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. The significant investment will be used 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 prevents 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 condition. These include, physiotherapist support, pain management techniques, doctor-led medication reviews and prescription provision.
Justin Hartfield, who founded 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.