Redecol are developing an asthma monitoring device to address the need for a new type of lung function test.
Redecol completed its funding round in September 2017, raising £555,437.50.
Asthma is a common chronic respiratory problem, representing a serious health concern affecting approximately 300 million people around the world – a figure predicted to grow to 400 million by 2025. In the UK alone, 5.4 million people are affected by asthma and, on average, three people a day die from the disease. The European Asthma Research Innovation Partnership claims that over a period of eight years, 4 million asthma sufferers will be hospitalised and 120,000 will die.
Patient home monitoring of asthma is a problem space, with only 5% of asthmatics monitoring their condition effectively at home. Current monitoring methods, such as peak flow meters, require asthmatics to use a ‘forced’ breathing technique (forcefully emptying the lungs of air). Given that asthma is a respiratory disease, this can be exceedingly uncomfortable for sufferers (especially children and elderly people, who may be frailer than average).
It is estimated that asthma leads to a direct cost to the NHS of £1.1bn and a considerable indirect cost to society, due to time off work and loss of productivity. Home monitoring of asthma could therefore be a considerable cost saver.
Redecol wants to save lives via the deployment of their Breathe EasyFlow product, a home monitoring device that enables asthma sufferers to accurately take readings of their breathing capacity and status without undue forceful breathing. The company is also developing an app in tandem which will facilitate medical professionals’ home monitoring of patients, and track patient history.
Redecol's Breathe EasyFlow
The Breathe EasyFlow analyses lung function and the severity of asthma symptoms, monitors results over time and provides an easy, app-based channel of communication between patient and doctor – without a reliance on forced breathing.
The Redecol breath sensor used in the device tracks deep, controlled breaths to create a breath profile shape which is then recorded and analysed, leading to improved asthma management and control.
This method also hopes to avoid undue hospital visitations, which can be time consuming, stressful and costly – according to the Asthma UK Centre in Applied Research, GP consultations for asthma currently cost the UK £160m per year.
The device is paired with Redecol’s cloud solution and app, intended to enable both sufferers and healthcare professionals to monitor the patient’s condition, allowing for corrective actions to be taken to minimise risk and monitor trends in the patient's condition.
The lead investor
Barbara Lead is CEO of Oval Medical, a specialty pharmaceuticals company based in Cambridge which was acquired by SMC Ltd last year. She has spent her career in pharma, having held VP positions in drug development and marketing. She has worked in the asthma and allergy therapy areas, including working with many international clinical opinion leaders in the development and marketing of asthma medication. In addition to her medical career, she is an experienced investor having invested in a number of startups.
I am excited about this opportunity, the product has the potential to really make a difference to patients. Since childhood asthma is increasing in the developed world the market will only continue to grow and there are many different commercial models that can be applied in different markets to maximise future sales.
Barbara Lead, Redecol lead investor
What investors say
'Redecol have a brilliant technology that assesses lung function; I have invested in this technology for some years. Whilst the other applications of the core sensor have great potential, the take up has been slow. Its application in Asthma monitoring meets a very immediate need. This was highlighted by Asthma UK in their report.
The team have made impressive progress in their plan to commercialise this application, which should be of tremendous benefit to asthma suffers. I expect this to be one of my best life science investments.'
– Henry P, investor
'I’ve been following the Redecol technology as an investor and asthma sufferer for over two years. As an asthma sufferer, I recognise the clear need for an effective way to monitor and treat it.
Redecol have developed a strong team who are making great progress against clearly defined milestone. With the Leicester study under their belt, and with both the Indian study and market access work underway, they are making great strides. This progress is important to me as an investor.'
– David L, investor