Digital therapeutics (DTx) agency Sidekick Well being right this moment introduced a elevate of $55 million (€52M) in Sequence B funding.
The spherical was led by London-based enterprise capital agency Novator Ventures, with further participation from Wellington Companions, Asabys Companions, and Frumtak Ventures, and a US-based strategic investor that can be revealed at a later stage.
WHAT IT DOES
Sidekick develops and delivers personalised DTx and programmes for persistent and way of life illness administration, starting from diabetes to ulcerative colitis and smoking cessation.
The agency operates in partnership with US-based well being firm Anthem Inc. to supply digital-first care programmes, in addition to international pharmaceutical giants Pfizer and Bayer, to develop built-in mixture therapeutics.
Throughout the top of the pandemic, Sidekick assisted the Authorities of Iceland by offering the distant triaging, distant monitoring and administration of individuals contaminated with COVID-19.
WHAT IT’S FOR
Sidekick, which has places of work in Berlin, Boston, Reykjavik and Stockholm, says it’s now trying to additional diversify its portfolio by increasing its persistent illness remedies throughout extra therapeutic areas, bolstering current partnerships and forging new alliances with key stakeholders throughout the healthcare ecosystem.
In the meantime within the DTx area Berlin-based startup HelloBetter not too long ago introduced a $4.2 million (€4M) extension of its $6.3 million (€6M) Sequence A funding spherical, bringing the entire funding spherical to $10.5 million (€10M). The funds can be used to push the commercialisation of HelloBetter’s merchandise within the German market and advance its enlargement.
Additionally this 12 months, Pfizer introduced a brand new strategic business partnership with Swedish startup Alex Therapeutics to create DTx for nicotine habit remedy for the German market.
In December 2021, UK digital psychological healthcare agency ieso introduced a elevate of $53 million (€47M) in Sequence B financing to assist take its DTx options by regulatory approvals and to market within the UK and US. Its core product affords synthetic intelligence (AI) powered digital cognitive behavioural remedy (CBT) delivered by a therapist.
ON THE RECORD
Sidekick chief government officer and cofounder Dr Tryggvi Thorgeirsson mentioned: “By harnessing the facility of expertise we’ve got a novel alternative to ship customized remedies by way of smartphones and different cell units, empowering individuals to take management of their very own well being.
“The main problem going through the world’s healthcare methods is methods to help and deal with people who find themselves coping with with two or extra persistent situations. The cornerstone of Sidekick’s strategy is our multi-chronic digital therapeutics platform, and this funding will permit us to scale even quicker the manufacturing of a brand new era of scientific remedies throughout all main persistent illnesses.”
Novator Ventures normal associate and founder Birgir Mar Ragnarsson, who has joined Sidekick’s board of administrators, mentioned: “Novator Ventures recognises the immense alternatives introduced by third era therapeutics and Sidekick’s capacity to scale and function on the international stage. We stay up for working intently with the Sidekick staff to rework how healthcare is delivered.”