Healthtech company raises £1.5m for mental health diagnosis

Healthtech start-up Psyomics has closed a £1.5m funding round from existing investors to bring its mental health assessment and diagnosis platform, Censeo, to market.

The round was led by fund manager Parkwalk and existing investors Jonathan Milner, Martlet, and Cambridge Enterprise.

Censeo is a digital diagnostic platform that combines technology with clinical knowledge to deliver a psychiatric assessment.

Dan Cowell, chief executive and co-founder of Psyomics, said: ‘This funding will enable Psyomics to support the UK’s plans to improve mental health provisions for the nation. 

‘Through giving patients, clinicians, and caregivers an earlier and clearer understanding of individual mental health needs, we believe we can make significant improvements in patient experience and clinical capacity, with positive impacts throughout the entire healthcare system. Our investors share our belief in the opportunity to make a genuine impact with Censeo.’

Martin Glen, investment director at Parkwalk added: ‘Covid-19 has accelerated adoption of digital tools for a wide range of applications, and Psyomics’ clinical and tech-led diagnostic tool can transform mental health diagnosis.

‘We have always felt that what sets Psyomics apart is its deep clinical roots/knowledge. We are pleased to be a part of this next funding round and look forward to seeing Psyomics continue to grow with its market-ready product.’ 

Established in 2015, Psyomics is a spin-out from the University of Cambridge, co-founded by Professor Sabine Bahn, head of the Cambridge Centre for Neuropsychiatric Research, and Daniel Cowell, former chief operating officer of gene editing company Horizon Discovery. 

The healthtech start-up develops clinical products to assist in the diagnosis and triage of key mental health conditions.