Funding will be used to broaden partnerships with the NHS and improve patient experience.
Leva has announced that it has secured £3m ($3.5m) of funding from Óskare Capital and 2420 Partners. A significant investment will be used to scale the delivery of digital solutions for chronic pain patients. Crucially, it will also accelerate innovation in medical cannabis therapeutics.
A quarter of adults in the UK are living with a pain condition that has lasted over three months. Chronic pain has often been dubbed a ‘silent epidemic’, while pain costs the UK economy significantly more than cancer and heart disease, and almost as much as diabetes and obesity costs.
Currently, a lack of personalised treatment options, and difficulties in accessing clinical support, currently prevent millions of adults from addressing pain without taking opioids – the risks of which have been well-publicised.
Leva Clinic remains the UK’s first online facility for patients living with chronic pain. Regulated by the Care Quality Commission, the clinic delivers a range of digital services to help patients manage their conditions. These include physiotherapist support, pain management techniques, doctor-led medication reviews, and prescription provision.
Justin Hartfield, who founded the global cannabis technology platform ‘Weedmaps’ in 2008, made his investment via his private investment office 2420 Partners.
He commented: “Our investment in Leva is perfectly aligned with our goal to support emerging businesses in the pain management space globally. Leva is on the path to being a market leader in delivering innovative pain management solutions by industry-leading pain experts in the UK. We are excited to partner with the company in its next chapter of growth.”
Leva is a founding member of Project Twenty21 – the largest observational medical cannabis study in the UK.