Launched last year, SIS Ventures is the impact investment arm of Scotland’s leading social investor, Social Investment Scotland. The company invests for impact, meaning their investments are made with the intention to generate positive, measurable social and environmental impact, alongside financial return. We believe that impactful enterprises, those that deliver profit with purpose, should be the bedrock of society; supported with the full power of the investor community. They seek to work with ambitious individuals committed to creating long-term, scalable social impact. These are businesses that look to combine more traditional business objectives with the creation of social impact at scale.
Talking Medicines, founded by Jo Halliday, Scott Crae and Elizabeth Fairley, is a healthcare data start-up. The company has developed an app, called Medsmart®, which helps patients better manage their medicines at home. Aimed at ensuring medicines are taken correctly, at the right time and for the specified duration, Medsmart® turns complex information into easy-to-understand content for the user.
The business model works by disrupting the way in which pharmaceutical companies access real-world data, by allowing them to see how their medicines are actually used. Talking Medicines believe that data can be used for good to drive more effective use of medicines. They believe it’s important that those in the healthcare system listen to how real people use medicines in the real world. The latest funding round for Talking Medicine’s was led by SIS Ventures and included investment from private investors and founders of the business, as well as the Scottish Investment Bank, the investment arm of Scottish Enterprise.
Jo Halliday, who is the firm’s chief executive, said: “This latest investment round demonstrates the growing support around the vision of enriching the experience of patients and understanding how their medicines are being taken.” Thomas Gillan, director, SIS Ventures, said: “We’re delighted to have made our first investment in such a purpose-led, impact-focused business as Talking Medicines.
Although still a young company, Talking Medicines has established strong initial traction with consumers, pharmaceutical companies and the investor community. “Working with Jo and the team, we’re looking forward to supporting them on their journey to becoming the global gold standard for real world insights on consumer usage of medicines.”
Author: Stephanie Smith, Marketing Manager at Social Investment Scotland