Business
Portfolio company ieso raises £39m
Portfolio company ieso raises £39m.
About this update from Ip Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3349T\n IP Group PLC\n 23 November 2021\n \n \n \n \n \n \n \n \n FOR RELEASE ON\n \n \n \n \n 23 November 2021\n \n \n \n \n \n \n \n \n \n \n IP Group plc - Portfolio company ieso \n \n \n raises £39 million Series B financing \n \n \n \n \n \n \n IP Group plc (LSE: IPO) (\"IP Group\" or \"the Group\"), the developer of intellectual property-based businesses, is pleased to announce that Ieso Digital Health Ltd (\"ieso\" or \"the Company\"), \n a UK leader in digital mental healthcare, \n announced it has completed a £39m Series B round of investment\n \n to develop clinical software treatments built on the world's largest mental health treatment data set.\n \n \n \n \n \n The round was led by \n investment firm Morningside, with further new investment from Sony Innovation Fund alongside existing shareholders IP Group, Molten Ventures and Ananda Impact Ventures.\n \n \n \n \n \n Following \n completion of the fundraise, IP Group has an \n undiluted beneficial holding of 32.3% in ieso, valued at £21.8m, representing a net unrealised fair value gain to the Group of approximately £2m. IP Group\n committed £6.1m to the funding round.\n \n \n \n \n \n The funds raised will help ieso address the global mental health crisis by developing autonomous therapy systems that match the high standards of human care delivery, at significantly lower cost to health systems. These new tools could improve the lives of the 500 million people globally who struggle with their mental and behavioural health every day but cannot access appropriate personalised care. \n \n \n \n \n \n ieso's AI-enabled digital assessment tools and therapeutics for mental health conditions will build on the insights developed from the world's largest outcomes-linked therapy dataset, which surpasses 460,000 hours. The data encompasses insight into, and treatment of, common mental health conditions including depression and anxiety and those linked with long term conditions such as diabetes. ieso intends to seek regulatory approval for its autonomous digital tools in the US and UK ahead of bringing them to those markets. The Company will extend its commercial teams to the US and target co-development and distribution partnerships that can facilitate scalable market access.\n \n \n \n \n ...