20 Future Scottish HealthTech and MedTech Leaders

Nelson Advisors
May 11
15 min read

The Scottish healthcare, medtech and life sciences sectors are currently undergoing a systemic transformation, shifting from a collection of academic research clusters into a globally competitive industrial powerhouse.

This evolution is guided by the Life Sciences Strategy for Scotland 2035 Vision, which targets a sectoral turnover of £25 Billion by 2035. Having already surpassed its interim 2025 goal of £8 Billion four years ahead of schedule, generating over £10 Billion by early 2021, the industry is leveraging a unique "Triple Helix" of collaboration between academia, industry, and the National Health Service (NHS) Scotland.

The current momentum is characterised by the emergence of high-growth ventures in biopharmaceuticals, medical devices, and artificial intelligence (AI), all of which are addressing significant unmet clinical needs.

The following analysis identifies 20 future leaders, encompassing both innovative organisations and visionary individuals, who are defining the next decade of HealthTech and MedTech in Scotland. These leaders are categorized by their technical domains, ranging from microbiome therapeutics and oncology to robotic surgery and AI-driven diagnostics.

The Biopharmaceutical Vanguard: Advanced Therapeutics and Microbiome Science

The therapeutic landscape in Scotland is increasingly focused on "disease-modifying" interventions, moving beyond symptom management toward the restoration of biological homeostasis. This shift is most pronounced in the fields of microbiome science and targeted immunotherapy.

1. EnteroBiotix: Pioneering Microbiome Modulation

EnteroBiotix, a clinical-stage biopharmaceutical firm headquartered at the Clyde Gateway, represents the leading edge of microbiome research in Europe. Under the leadership of its founder and CEO, Dr. James McIlroy, the company has developed an integrated platform for the production of full-spectrum microbiome therapeutics. The core thesis of EnteroBiotix is that restoring microbial balance in the gut can treat a wide array of debilitating diseases, particularly those involving the gut-brain axis and chronic inflammation.

The company's lead investigational product, EBX-102-02, is a next-generation, orally delivered therapeutic containing more than 400 species of gut bacteria derived from vetted, healthy donor samples. In April 2026, EnteroBiotix secured £19 Million ($25 Million) in a financing round led by Thairm Bio and the Scottish National Investment Bank (SNIB). This capital is being deployed to initiate the "RISE" trial (Restoring Intestinal Symbiosis for Efficacy in IBS), a Phase 2b study involving approximately 300 patients with moderate-to-severe irritable bowel syndrome with constipation (IBS-C).

The RISE trial is noteworthy for being one of the largest interventional studies of a full-spectrum microbiome product ever conducted. Unlike traditional IBS treatments, which often carry limitations such as severe diarrhoea or lack of disease-modifying impact, EBX-102-02 is designed to form stable bacterial colonies in the small intestine, addressing the underlying dysbiosis.

The company's 20,000-square-foot facility, "Number One," includes MHRA-licensed manufacturing suites, allowing for end-to-end control over the production process, a critical factor in ensuring batch consistency for complex biological products.

EnteroBiotix Clinical Milestones	Phase	Expected Date / Status
Phase 2a TrIuMPH Trial	Phase 2a	Completed Jan 2026
Phase 2b RISE Trial Initiation	Phase 2b	Q2 2026
Topline Efficacy Data (RISE)	Phase 2b	H2 2027
Phase 3 Registrational Trials	Phase 3	2028 (Projected)

2. Medannex: Target-Specific Immunotherapy

Medannex, based in Edinburgh, is a pioneer in the development of first-in-class therapies targeting the protein annexin-A1 (ANXA1). High expression of ANXA1 is strongly correlated with poor prognosis, tumour growth and metastasis in several aggressive cancers, including pancreatic, triple-negative breast and colorectal malignancies.

At the European Society for Medical Oncology (ESMO) Congress 2025, Medannex presented preliminary clinical data from its Phase 1b first-in-human study, "ATTAINMENT," evaluating its lead monoclonal antibody, MDX-124. The study revealed that MDX-124 was well-tolerated at doses up to 30 mg/kg, with no dose-limiting toxicities observed.Crucially, the data indicated a disease control rate of 55% in evaluable patients, with one confirmed partial response in a patient with cholangiocarcinoma who remained on the study for approximately 12 months.

The scientific mechanism of $MDX-124$ involves blocking the interaction between secreted forms of $annexin-A1$ and the formyl peptide receptors (FPR1/2), thereby inhibiting tumor immune evasion and metastasis. Following the establishment of the Recommended Phase 2 Dose, the clinical program is now expanding into tumor-specific arms, including biliary tract and pancreatic cancers. The firm was also awarded an Innovate UK 'Transforming Cancer Therapeutics' grant to evaluate MDX-124 in paediatric osteosarcoma, a rare and aggressive bone cancer with stagnant outcomes over the last four decades.

3. Tay Therapeutics and Hawkhill Therapeutics (Dr. Andrew Woodland)

Dr. Andrew Woodland, a prominent figure in the Dundee life sciences cluster, serves as the CEO of both Tay Therapeutics and its recent spin-out, Hawkhill Therapeutics. Tay Therapeutics, spun out from the University of Dundee in 2020, has established a high-efficiency model for drug discovery, delivering three candidate drugs for inflammatory and rare genetic conditions with less than £15 Million in funding.

In July 2025, Woodland launched Hawkhill Therapeutics to focus on the burgeoning metabolic health market. Hawkhill is specifically developing oral, "muscle-sparing" therapies for obesity. While current GLP-1 agonists like Ozempic and Mounjaro are highly effective for weight reduction, a significant portion of that weight loss (often up to 40%) can come from skeletal muscle, which is vital for metabolic health and physical function, particularly in aging populations. Hawkhill’s approach targets clinically validated mechanisms to preserve muscle mass while inducing fat loss, positioning it as a potentially superior alternative to existing blockbuster injectables.

Tay Therapeutics continues to advance its "readthrough" gene therapy platform, which uses small molecules to restore functional protein production in patients with rare genetic disorders. This platform is currently ready for IND-enabling studies and is actively seeking licensing partners for global development.

The MedTech and Robotic Frontier: Precision Engineering and Devices

Scotland has a deep-rooted history in ultrasound and medical device engineering, a legacy that is currently being revitalised through the integration of robotics and microwave technology.

4. Nami Surgical: Miniaturisation for Robotic Assisted Surgery

Nami Surgical is a high-growth spin-out from the University of Glasgow’s Centre for Medical and Industrial Ultrasonics (C-MIU). Led by CEO Nico Fenu and CTO Dr. Rebecca Cleary, the company is addressing a critical constraint in Robotic Assisted Surgery (RAS): the bulky size of traditional ultrasonic scalpels.

Ultrasonic scalpels are essential in minimally invasive procedures for their ability to simultaneously cut and coagulate tissue, reducing blood loss. However, the operational frequency of these devices (typically 30–55 kHz) has traditionally required large transducers that cannot be easily integrated into the flexible, wristed joints of surgical robots. Nami Surgical’s breakthrough technology enables the miniaturisation of these transducers, achieving a diameter of less than 10 mm and a length of less than 40 mm, without compromising the vibrational frequency required for tissue dissection.

In 2024, Nami secured £3.2 million in investment and grant funding, followed by an additional £1.9 million in venture funding in February 2026. The company is moving into a new headquarters in Stirling, which includes an R&D prototyping lab, as it prepares for global commercialisation in specialties like urology, gynaecology and cardiology.

5. Emblation (Gary Beale): Microwave Therapy Global Scaling

Stirling-based Emblation, co-founded by CEO Gary Beale and CTO Eamon McErlean, has become one of the most successful HealthTech companies in the UK. The firm’s "Swift" microwave device has transformed podiatry and dermatology by offering a highly effective, non-invasive treatment for HPV-based skin lesions such as warts and verrucae.

The Swift technology works through microwave-induced immune modulation, which triggers the body’s own immune system to recognise and clear the virus. To date, over 350,000 treatments have been carried out globally. In early 2026, Emblation announced the move into "Emblation House," a £4 Million headquarters in Stirling designed to integrate clinical research, engineering and sales teams under one roof.

Beyond dermatology, Emblation is conducting clinical testing to apply its microwave generators to pre-cancerous and cancerous lesions, including Basal Cell Carcinoma.

The firm’s ability to scale rapidly is evidenced by its acquisition of distribution companies in the US and the establishment of subsidiaries in Canada and Germany, supported by an eight-figure investment from Apposite Capital in 2021.

Emblation Business Performance	Metric	Value
Global Treatments Conducted	Count	> 350,000
New Headquarters Investment	Capital	£4,000,000
Global Distribution	Countries	> 20
Staff Count Growth	Expansion	Tripled since 2021

6. Touchlab: Tactile Perception for Robotics

Touchlab, an Edinburgh-based startup co-founded by Zakareya Elmo Hussein and Laura Garcia Caberol, is pioneering the field of tactile robotics. The company has developed an ultra-thin electronic "skin" that provides robots with human-like tactile perception.

This technology is critical for the next generation of remote-operated machines and prosthetics, allowing them to sense pressure, texture and temperature. At Expo 2025 Osaka, Touchlab showcased how its electronic skin could enable robots to perform delicate tasks in healthcare environments, such as patient handling or surgical assistance, with a level of nuance previously reserved for human touch. The company holds three patents in the field and has been recognised as a "One to Watch" in the 2026 Techscaler report for its deep technical expertise.

7. OptoLoc (András Kufcsák): Ensuring Patient Safety in Feeding

OptoLoc, a project led by Research Associate András Kufcsák and Principal Investigator Michael Tanner at Heriot-Watt University, addresses a major safety concern in clinical settings: the misplacement of nasogastric (NG) feeding tubes.Approximately 2% of NG tubes are misplaced into the lungs, which can lead to severe morbidity or death.

OptoLoc’s medical device uses a light source and an external photon detector to track the position of the tube in real-time during placement. By visually projecting the path of the tube onto the patient’s body, the device provides immediate confirmation of correct placement, reducing the need for confirmatory X-rays and preventing adverse events. The project won third place in the flagship 2025 Converge Challenge, securing £15,000 to advance toward clinical adoption.

AI-Driven Diagnostics and Molecular Insights

The integration of AI into diagnostic pathways is a primary theme of Scotland’s HealthTech strategy, aimed at achieving earlier detection and more personalised care models.

8. Prothea Technologies: Integrated Lung Cancer Diagnostics

Prothea Technologies, a spin-out from the Universities of Edinburgh and Bath, has developed an integrated platform that allows for the diagnosis and treatment of lung cancer in a single hospital visit. Lung cancer management is often fragmented, with significant delays between initial screening, biopsy and treatment.

Prothea's system combines a fiberoptic microendoscope with an ultrafast imaging and molecular analysis system.

This allows clinicians to visualise lung lesions at a molecular level and obtain real-time diagnostic insights. Furthermore, the platform integrates a laser ablation catheter, enabling the immediate removal of suspicious tissue following diagnosis. The firm launched in late 2024 with a €12 Million ($13 Million) Series A round and initiated its "Precision Lung" clinical study in September 2025.

9. ParkinSense (Adam Lockhart): Early Detection of Parkinson’s

Adam Lockhart, a graduate of Heriot-Watt University, is the founder of ParkinSense, a digital platform for the early detection of Parkinson’s Disease. Parkinson’s is notoriously difficult to diagnose in its early stages due to the subtlety of non-motor symptoms and overlap with other conditions.

ParkinSense utilises a mobile AI software that assesses non-invasive symptoms through structured digital assessments.The platform provides explainable machine learning results to identify those most at risk, facilitating earlier intervention and improving patient outcomes. Lockhart was awarded a Royal Academy of Engineering Enterprise Fellowship in 2025, which provides the mentorship and commercialisation support needed to integrate the technology into global healthcare pathways.

10. Neuro BioMark (Jemimah Maria Kuruvilla)

Jemimah Maria Kuruvilla, leading the Neuro BioMark project at Heriot-Watt University, has developed an AI-powered platform for the interpretation of motor neurone disease (MND) tissue samples. The diagnosis and research of MND currently depend on a very small number of specialist pathologists, creating significant bottlenecks in both clinical care and drug development.

Neuro BioMark acts as a digital assistant, highlighting relevant disease features in digital pathology images and supporting consistent subtype identification. Research published in December 2025 demonstrated that the platform’s machine learning models could distinguish ALS patients from control samples with high sensitivity and specificity using immunohistochemical features. By automating the analysis of glial activation and protein misfolding, Neuro BioMark opens tissue analysis to non-specialists in biotechnology and academia, accelerating the search for new therapies.

11. CanCan Diagnostics (Dr. Maciej Parys)

Dr. Maciej Parys, a clinical lecturer at the Royal (Dick) School of Veterinary Studies, founded CanCan Diagnostics to bring advanced molecular diagnostics to the veterinary market. The company’s primary product is a liquid biopsy blood test for dogs, which can detect and monitor cancer progression with minimal invasiveness.

CanCan’s success is a prime example of the "One Health" approach, where innovations in animal health provide valuable data and pathways for human medical advancements. The company won the "Innovation: Animal Health, Agritech and Aquaculture" award at the 2026 Scotland’s Life Sciences Awards. Following the successful deployment of the canine test, CanCan is now developing the first feline liquid biopsy, extending the reach of precision medicine across species.

12. iGii: Nanomaterial Biosensing

Formerly known as Integrated Graphene, iGii is a Stirling-based firm that has developed a proprietary 3D graphene nano-material called "Gii". Gii offers a highly sensitive and scalable platform for electrochemical biosensing.

The company's focus is on integrating Gii into next-generation diagnostic platforms for a variety of applications, including the rapid detection of biomarkers in healthcare, environmental monitoring, and industrial safety. iGii’s technology was selected for showcase at Expo 2025 Osaka as a key component of Scotland’s future HealthTech exports, particularly for its potential to enable point-of-care diagnostics in resource-limited settings.

13. Wobble Genomics: Revolutionising RNA Sequencing

Wobble Genomics, a spin-out from the Roslin Institute based at the Roslin Innovation Centre, is addressing the fundamental limitations of RNA sequencing. Traditional sequencing methods often struggle with long-read RNA, which is essential for understanding gene expression in complex diseases like cancer.

Wobble’s novel approach overcomes these challenges, enabling researchers to gain deeper insights into the transcriptome.This technology has broad applications, from drug discovery and basic research to agriculture and ecology. The company raised £12.9 Million in seed funding and was named a finalist in the "Extraordinary Talent" category at the 2026 Life Sciences Awards.

Digital Health and Educational Transformation

As healthcare systems face increasing pressure from aging populations and workforce shortages, digital solutions are becoming essential for maintaining service quality and accessibility.

14. MedAscend (Hana Woods): AI-Powered Medical Simulation

Hana Woods and Ahmed Sharaf are the founders of MedAscend, a digital platform designed to transform clinical training through AI-powered patient interactions. In standard medical education, students have limited opportunities to practice consultations with live patient actors, which is both expensive and difficult to scale.

MedAscend allows students to improve their communication and diagnostic skills through virtual consultations with AI patients. In a 2025 pilot with the University of Dundee, 300 students completed over 2,240 consultations in just eight weeks. The results were significant: students showed a 20% improvement in performance and a 54% increase in OSCE confidence. MedAscend was named the runner-up in the main category of the 2025 Converge Challenge, reflecting its potential to alleviate the clinical training bottleneck.

15. MyWay Digital Health: Empowering Chronic Disease Management

MyWay Digital Health (MWDH), a spin-out from the University of Dundee, has established itself as a leader in data-driven diabetes management. The company’s platform provides patients with access to over 250 multimedia education resources and direct access to their NHS health records.

The MWDH model focuses on self-management, allowing patients to monitor their condition and receive personalised care recommendations, which significantly reduces the burden on secondary care services. The platform has been widely adopted within the NHS and is expanding internationally, showcasing how Scottish HealthTech can deliver both clinical impact and return on investment (ROI).

16. Neon Guard (Chelsea Jarvie): Cybersecurity for Digital Health

Chelsea Jarvie, founder of Neon Guard, is addressing an increasingly critical aspect of HealthTech: the security of connected medical devices. As healthcare becomes more digitally integrated, the protection of patient data and the integrity of medical systems from cyber threats have become paramount.

Neon Guard provides specialized cybersecurity solutions for the HealthTech sector, ensuring that innovative devices can be deployed safely within the NHS and other global health systems. Jarvie is part of the 2026 Converge Challenge cohort, highlighting the ecosystem's recognition that technological innovation must be matched by robust security infrastructure.

Strategic Leadership and Policy Influence

The success of individual companies is supported by a cadre of leaders who shape the policy and infrastructure of the Scottish life sciences ecosystem.

17. Professor David Lowe: The Clinical Architect

Professor David J. Lowe is a central figure in the Scottish HealthTech landscape, holding roles as the Clinical Director for Health Innovation for the Scottish Government and Emergency Consultant at Queen Elizabeth University Hospital.

He is a primary architect of the Scottish Health and Industry Partnership (SHIP), which creates the conditions for transforming innovative projects into viable healthcare products.

Lowe has been instrumental in developing a wide range of digital health solutions, including the "Trauma App" for the Scottish Trauma Network and "OPERA," an AI-driven tool for the early diagnosis of heart failure. His dual role ensures that HealthTech innovations are aligned with frontline clinical needs and can be successfully integrated into NHS care pathways.

18. Mark Cook: Leadership in Industrial Strategy

Mark Cook serves as the Co-Chair of the Life Sciences Industrial Leadership Group (ILG) in Scotland. With 30 years of experience in medical technology and biologicals, Cook has been a key driver in the refresh of Scotland's sector strategy.

Under his leadership, the sector exceeded its £8 Billion turnover goal for 2025 by over £2 Billion, four years early. Cook’s influence extends to the Scottish Health Technology Group, where he supports decision-making for non-medicine technologies, ensuring that MedTech remains a central pillar of the nation's economic and health strategy.

19. Dr. Lissa Herron: Fostering Entrepreneurial Talent

Dr. Lissa Herron is the Deputy Director of Converge, Scotland's flagship company creation program for the university sector. Converge has been instrumental in supporting many of the leaders on this list, including MedAscend, ParkinSense and OptoLoc.

Under Herron’s leadership, Converge has provided over £400,000 in annual prizes and business support to the most promising university spin-outs and start-ups. Since its launch in 2011, the program has trained over 830 aspiring founders and supported more than 450 companies, maintaining an above-average survival rate for its alumni. Herron’s work ensures a continuous pipeline of talent and innovation from Scotland’s 19 universities into the commercial market.

20. Andrew McGinley: Mentorship and Scaling

Andrew McGinley is an Entrepreneur in Residence for Techscaler and the founder of Care Sourcer, a HealthTech marketplace that raised £9 Million and exited in 2023. McGinley now leverages his experience to mentor the next generation of HealthTech founders, focusing on investment strategy and international scaling. His involvement in the "Ones to Watch 2026" report highlights his role in identifying and nurturing high-growth potential within the Scottish ecosystem.

The Ecosystem of Support: Infrastructure and Investment

The emergence of these 20 leaders is facilitated by a robust infrastructure designed to de-risk innovation and provide pathways to global markets.

The Role of Techscaler and CodeBase

Techscaler, operated by CodeBase, is a central pillar of the Scottish Government’s "National Strategy for Economic Transformation". In 2025, Techscaler facilitated over 50 curated investor introductions and supported 42 founders in international scaling programs in Silicon Valley, Japan and Singapore.

The Techscaler Health & Medtech Innovation Summit in March 2026 brought together founders, clinicians and investors to address the practicalities of moving from prototype to procurement, a major hurdle for many MedTech firms.

Regional NHS Innovation Hubs

NHS Scotland’s innovation efforts are coordinated through three regional hubs—North, West and South East, which act as testbeds for new technologies.

West of Scotland Innovation Hub: Led by Katriona Brooksbank, focuses on AI and precision medicine.
North of Scotland Innovation Hub: Led by Hazel Dempsey, focuses on telehealth and rural care solutions.
South East Regional Innovation Hub (HISES): Collaborates on patient-centred research and data-driven cancer pathways.

These hubs provide the clinical validation required for technologies like the "Flok Health" AI physiotherapy clinic or the "PneumoWave" respiratory monitor to be adopted at scale.

Strategic Investment Landscapes

The financing of Scottish HealthTech is increasingly characterized by domestic venture firms and state-backed investment. The Scottish National Investment Bank (SNIB) has been a key participant in large rounds for companies like EnteroBiotix and CMAC. Eos Advisory, Maven Capital Partners, and Old College Capital (the University of Edinburgh’s in-house fund) provide the early-stage and seed capital necessary for academic spin-outs to reach their first clinical milestones.

Notable Investment Rounds (2024-2026)	Company	Amount	Lead Investor(s)
EnteroBiotix (April 2026)	Microbiome	£19,000,000	Thairm Bio, SNIB
Prothea Tech (Sept 2024)	Lung Cancer	€12,000,000	Early-stage VC Syndicate
Nami Surgical (May 2024)	Robotic Surgery	£3,200,000	Eos Advisory, Maven
Wobble Genomics (2021)	RNA Sequencing	£12,900,000	Old College Capital
Exergy3 (2026)	Industrial Heat	£10,000,000	Old College Capital

Convergence and Future Outlook

The trajectory of the Scottish life sciences sector toward 2035 is defined by "convergence", the blurring of lines between pharmaceuticals, medical devices and digital health.

The Move Toward Value-Based Care

The work of leaders like Prothea Technologies and Emblation reflects a broader shift toward value-based care. By consolidating diagnostic and therapeutic steps into a single visit or providing non-invasive alternatives to surgery, these companies are reducing the total cost of care while improving patient experience. This aligns with the "NHS Recovery and Renewal" plan, which prioritises innovation as a means of reducing wait times and bed occupancy.

International Ambition and Global Health

Scotland’s HealthTech leaders are increasingly looking beyond domestic markets. The participation of companies like Touchlab, iGii, and MyWay Digital Health in Expo 2025 Osaka underscores the sector’s global export impact. With 40% of the sector's turnover already coming from international sales, the expansion into markets like the US, Japan, and the UAE is a primary driver of the 2035 £25 Billion goal.

Scientific and Technical Depth

The transition to a "Deep Tech" economy is evident in the technical sophistication of the 2026 "Ones to Watch" cohort.From the application of machine learning to MND tissue samples to the use of Gii nanomaterials for biosensing, Scottish firms are building on a foundation of rigorous academic research. The success of these ventures will depend on their ability to maintain this technical edge while navigating the complex regulatory and procurement landscapes of global healthcare.

In summary, the 20 leaders identified in this report, whether through the development of EBX-102-02 for gut health, the miniaturisation of ultrasonic scalpels for robotic surgery, or the creation of AI patients for medical training, represent a holistic approach to the future of health.

They are supported by a maturing ecosystem of investment, policy, and infrastructure that positions Scotland as one of the most effective environments in the world for life sciences innovation. As these companies and individuals progress through the clinical and commercial stages of the 2035 strategy, they will continue to deliver transformative changes to the health of populations globally.

Nelson Advisors > European MedTech and HealthTech Investment Banking

Nelson Advisors specialise in Mergers and Acquisitions, Partnerships and Investments for Digital Health, HealthTech, Health IT, Consumer HealthTech, Healthcare Cybersecurity, Healthcare AI companies. www.nelsonadvisors.co.uk

Nelson Advisors regularly publish Thought Leadership articles covering market insights, trends, analysis & predictions @ https://www.healthcare.digital

Nelson Advisors publish Europe’s leading HealthTech and MedTech M&A Newsletter every week, subscribe today! https://lnkd.in/e5hTp_xb

Nelson Advisors pride ourselves on our DNA as ‘Founders advising Founders.’ We partner with entrepreneurs, boards and investors to maximise shareholder value and investment returns. www.nelsonadvisors.co.uk

#NelsonAdvisors #HealthTech #DigitalHealth #HealthIT #Cybersecurity #HealthcareAI #ConsumerHealthTech #Mergers #Acquisitions #Partnerships #Growth #Strategy #NHS #UK #Europe #USA #VentureCapital #PrivateEquity #Founders #SeriesA #SeriesB #Founders #SellSide #TechAssets #Fundraising #BuildBuyPartner #GoToMarket #PharmaTech #BioTech #Genomics #MedTech