A lot of the tech startups that are disrupting other industries are doing so by applying their products and services to the Life Sciences industry. In this blog, wetly about the benefits of startup companies within the Pharmaceutical industry, and we’ve selected a handful of these companies and explained how they’re positively impacting the Life Sciences industry.
What are Life Sciences startups?
The Life Sciences Tech has over 4.7K+ startups, that comprise of companies which provide digital solutions to life sciences industry, including pharmaceutical, medical devices, diagnostics and Life Sciences instruments.
UK - Europe’s largest Life Sciences industry:
The UK is the world’s second largest Life Sciences industry, with 60,000 new jobs in the area and over 1,400 Life Sciences companies. The UK has been a global leader in Life Sciences since the 1950s, but it wasn’t until 2010 that the sector became a major driver for economic growth. Since then, its annual revenues have grown by around 10% annually. As well as being home to some of the biggest names like GSK and AstraZeneca. The country also has many smaller businesses making waves across Europe and beyond, including; MedImmune, Cell & Gene Therapy Catapult, Oxford BioMedica Ltd and Genomics England Limited.
Tech startups are making it easier to access healthcare:
Healthcare is a complex system. Patients have to navigate a web of NHS services and private providers, while doctors need to balance their workload with patient safety and the availability of new technology.
It’s easy to see how this can cause several problems such as Technological solutions can help save lives and improve the quality of life of vulnerable people:
1. Delivering healthcare to patients remotely
2. Improving treatment options for patents living with chronic conditions
3. Helping to prevent medical errors and infections at hospitals, clinics and surgeries
Tech startups are improving mental health:
Mental health is a serious issue in the UK. According to the mental health foundation, one in four people in Britain will experience a mental health problem each year and one in six people receive treatment for some sort of mental illness. This is an alarming statistic and it’s time for action on multiple fronts.
The good news is that tech start ups are tackling this issue head-on by using technology to improve people’s quality of life:
London based start up Aardvark Therapeutics helps people with schizophrenia better communicate with their family members or friends via a chatbot interface (essentially an intelligent robot).
Wheel is an app which helps clinicians and the industry deliver better care for everyone and patients are all to receive virtual care
Mindset App gives users the tools they need to live healer lives through daily reminders about mindfulness training exercises like meditation or breathing exercises - all through their smartphone apps!
Calm is a similar app to mindset with the goal to improve health, happiness, sleep and reduce stress
Moderna Inc is a company that is creating an any-cancer immune response tailored to individual tumours through a vaccination or immunotherapy approach.
AstraZeneca’s aim is to transform the lives of patients with improved outcomes and a better quality of life, through more effective treatment and prevention, ultimately working toward a cure for some of the worlds most complex diseases.
GSK prioritise innovation in vaccines and speciality medicines, maximising the increasing opportunities to prevent and treat diseases
Top Life Sciences Startups to Watch in 2023:
Odyssey Therapeutics, launched in December 2021 in Cambridge, London. The biotech startup is on a journey to discover and develop the next generation precision medicine for patients with cancer and inflammatory diseases.
Upstream Bio was launched very recently in June 2022 in Waltham. The biotech startup focuses on TSLP receptor to discover the reason for inflammation and conquer it.
Alto Neuroscience was launched in October 2021 in Los Altos, is also a biotech startup company, develops personalised and highly effective medicines to help patients get better but using artificial intelligence that measures biomarkers, wearable data, behavioural patterns, genetics etc.
Intergalactic Therapeutics launched in October 2021 in Cambridge, are building the future of non-viral gene therapy and expanding healthcare for patients
The Life Sciences industry is growing fast and there’s a lot of opportunity for startups to disrupt the sector. With patient data now being collected in real-time and more people diagnosed with chronic diseases, there are huge opportunities for startups that can bring innovation to this space.
What startups are you excited about?
Read more blogs from us: https://www.nufuture.co.uk/cm/blogs
Connect with nufuture today to find out how we can help you.
Bracknell phone: 01344 289224
Manchester phone: 0161 791 0237
Email info@nufuture.co.uk