The ventures arm of Channel 4, the state-owned broadcaster, is taking a stake in a new digital health company which aims to help tackle the growing scourge of chronic allergies in the UK.
Sky News has learnt that AllergyRhino, which has been set up to offer patients access to personalised allergy immunotherapy, has struck a deal with Channel 4 Ventures as part of a fundraising which also includes the early-stage investment firm Lexham Partners.
The so-called media-for-equity arrangement will give the AllergyRhino brand exposure using Channel 4’s advertising inventory as it seeks to build name recognition.
It is the latest such agreement signed by Channel 4 Ventures, with previous counterparties having included the online estate agent Purplebricks and Crowdcube, the crowd-funding platform.
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AllergyRhino is chaired by Dr Sneh Khemka, a former global medical chief at Bupa and ex-chief executive of Simplyhealth.
It counts Professor Adam Fox, past president of the British Society for Allergy and Clinical Immunology, and Professor Stephen Till, a consultant allergist at Guy’s and St Thomas’ NHS Foundation Trust, among the members of its clinical advisory team.
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The company’s formation comes as the problem of chronic allergies soars in Britain, with data suggesting that one in four people now live with seasonal or persistent rhinitis, triggered by factors such as hay fever and dust mite allergy.
It is said to be the fastest-growing chronic condition among children.
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Its funding round – encompassing the value of the Channel 4 Ventures deal and capital from Lexham – is said to be worth more than £4m.
Channel 4 declined to comment, while neither Allergy Rhino nor Lexham could be reached for comment.
