Hermann Hauser KBE backs Healx to combat rare diseases
Following the announcement of their investment in Healx, Amadeus Capital Partners co-founder Hermann Hauser, KBE, said: “Healx has taken advances in machine learning, data mining and analytics and combined them with deep pharma and life sciences expertise to address a growing need in the healthcare sector. With huge pressure on R&D budgets, drug repositioning will be essential in the fight against rare diseases. With this investment, Healx will take up a leadership position in the drug repurposing sector, expected to be worth over $31 billion by 2020.”
While there are around 8,000 rare diseases – disorders affecting fewer than 1 in 2,000 people in Europe – only about 500 have a cure. Many are linked to genetics and children account for some 75% of identified cases.
Tim Guilliams, Chief Executive, Healx, commented: “Studies into rare medical conditions have long failed to receive adequate funding. By repurposing existing drugs to combat rare diseases, Healx is able to find potential treatments at a fraction of the cost and in a much shorter timeframe than developing a new drug. With this investment, Healx will have the resources to expand our technology platform and accelerate our drug review process to find treatments to many more devastating illnesses.”