Web-based patient choice platform secures £135k grant and gains lead industrial client.

TomorrowsMedicines2

Background

Established in 2010, Tomorrow's Medicines is a communication and recruitment company that matches patients to clinical trials through an independent platform called YourTreatmentChoices.com.

Patients use the platform to find, understand and join clinical trials and recruiters use it to quickly and cost effectively communicate with, and recruit self-referring patients.

Business Objectives

Following a period of resource intensive market research with patients, Tomorrow's Medicines required funding for commercialisation market research for its service to organisations running clinical trials. Having identified patient demand in over 60 countries, the aim was to develop its value proposition and pricing model for trial recruiters.
The key challenge was resourcing its on-going collaboration with industrial stakeholders, including big pharma, charities, academia, government, legal and financial partners.

Technical Challenges

Operating a communication and recruitment platform in such a competitive and highly regulated area as clinical trials requires a detailed understanding of the demands of all stakeholders. To co-ordinate this, at the same time as developing a user friendly and commercially attractive platform, significant expertise in market research and grant funding was required.

Inventya Solution and timescales

Inventya assisted Tomorrow's Medicines with Technology Strategy Board (TSB) Proof of Market and Proof of Prototype grant applications which would enable it to develop the platform's value and pricing structure. Upon successfully winning grants worth £135k (match funded by the business) Inventya supported the company with its programme of market research and market analysis. The funding supported Tomorrow's Medicines in the crucial first 18 months of business.

Outcomes

  • Inventya helped drive a successful investment strategy.
  • £135k proof of market and proof of concept grant funding.
  • Support with global market research enabling Tomorrow's Medicines to engage industry that helped identify and secure its lead industrial client.
  • Alignment of Tomorrow's Medicine's objectives with those of TSB to secure a mutually beneficial outcome.

Next Steps

With its successful grant funding applications and industrial engagement, Tomorrow's Medicines is ideally positioned to present an attractive proposition to venture capital funds, which will enable its global marketing to be scaled up.

Working with Inventya is a pleasure. They have extremely knowledgeable and helpful staff who are committed to helping companies grow. Their deep understanding of the grant application process and TSB requirements enabled us to present two successful bids and take our business to the next stage of development.

Dr Clare Nolan, CEO,
Tomorrow's Medicines Ltd