Psyomics has strengthened its position as one of the most exciting new health technology start-ups by winning the Problem/Solution category of the prestigious AXA PPP Health Tech & You Awards, 2016.
The awards recognise the most forward-thinking companies in developing innovative technologies to help individuals manage their own health, either by helping them to deal with specific conditions or by facilitating positive changes in their lifestyle towards improving overall wellbeing.
The Problem/Solution award is a credit to the work Psyomics has carried out to-date in developing novel apps which combine digital approaches with biomarker technologies to tackle mental health challenges in both clinical and workplace settings. These apps compliment AXA PPP healthcare’s commitment to providing its members and the public with practical health information that can help them to understand more about preventing and managing health conditions at work.
In addition, Psyomics is the overall winner of Innovate UK’s IC Tomorrow Quantified Health competition, which qualified them for automatic entry to the AXA PPP Health Tech & You Awards. Winning these awards has seen Psyomics awarded £35,000 to further the development of their digital products as well as the opportunity to work alongside AXA PPP Healthcare in advancing these technologies.
Richard Cooper, Head of Digital and Content Marketing at AXA PPP healthcare commented: “Mental health affects an estimated one in four people in the UK at some point in their life, so we congratulate and praise Psyomics for looking to further help empower people to understand their own wellbeing and mental health.”
Dan Cowell, CEO of Psyomics added: “The AXA PPP Health Tech & You Awards have been a transformative experience for us at this early stage of the company. The opportunity to build relationships with the AXA PPP healthcare team and understand their commercial needs has helped us focus on delivering a relevant initial product in a rapid timeframe.”
Psyomics was founded in March 2015 by Professor Sabine Bahn of the University of Cambridge and Dan Cowell, CEO, with the aim of improving the speed and accuracy of the identification and diagnosis of mental health challenges.
Mental health is the single largest cause of disability in the UK and the wider economic costs in England have been estimated at £105.2 billion each year. This includes direct costs of services, lost productivity at work and reduced quality of life.
Working closely with the Cambridge Centre for Neuropsychiatric Research led by Professor Bahn, the mission is to develop digital tools and, for some challenges, biological tests that can be used to develop a comprehensive understanding of an individual in complete confidence, and then combined with an up-to-date record of scientific research, point the user towards sources of help and support, and treatment options available.
The team is currently working on a range of tools for prevention and early detection in the workplace, diagnosis of depression and bipolar in a clinical setting, and triage tools to be used in primary care.