PHILADELPHIA – Group K Diagnostics has raised $2 million in Series A funding to expand its laboratory infrastructure. The company’s microfluidic point-of-care device, called the MultiDiagnostic, provides test results in 20 minutes, allowing patients to have direct access to their medical results and enabling doctors to adjust medical treatments sooner. “The growth and expansion enabled by this investment brings our team closer to making our mission a reality—providing reliable, affordable test results to patients, and giving providers the opportunity to take immediate therapeutic action based on those results,” said Brianna Wronko, CEO of Group K Diagnostics, in a statement. “We are looking to the future of both our company and the industry, and expect this funding will open many doors for us.” GKD is looking to obtain clearance from the U.S. Food and Drug Administration for the device, and is working on a clinical trial for liver function testing.
SEATTLE – 98point6 has raised $50 million in new funding to scale its text-based primary care service, grow its physician teams and expand the capabilities of its platform. The company has raised a total of $86.1 million since its beginnings in 2015. “We set out to make primary care accessible and affordable for everyone, to address a crisis in America that has led to nearly one-fifth of the population not having a relationship with primary care,” said Robbie Cape, CEO and co-founder of 98point6, in a statement. “The phenomenal demand we’ve seen in just a short period of time reaffirms the need for 98point6, and this latest investment will enable us to deliver on our vision, driving deep engagement with our patients and empowering them to take control of their health.” 98point6 combines artificial intelligence with board-certified physicians to deliver care to a patient’s smartphone. The technology automates and completes tasks that don’t require direct physician interaction, allowing them to focus their time on treating more patients. The new funding will also allow 98point6 to expand into new markets, including health plans, health systems and higher education, said Cape.
CAMBRIDGE, Mass. – Glympse Bio has raised $22 million in Series A funding to conduct clinical trials for a digital platform that uses bioengineered activity sensors to noninvasively detect human diseases and to monitor drug response. The financing follows an initial $6.6 million seed round in 2015. Glympse Bio is a spinoff from the laboratory of Dr. Sangeeta Bhatia at the Massachusetts Institute of Technology. “This fundraise will propel our pipeline in non-alcoholic steatohepatitis and cancer into the clinic, catalyze our product engine to address diseases with high global burden and advance partnerships with pharma for real-time monitoring of drug response in patients,” said Bhatia, in a statement. “We are delighted to have strong investment partners join in this journey to improve care for patients.” Glympse’s activity sensors are precisely bioengineered to be transported to the site of disease in patients, directly interrogate the biological activity of the diseased tissue and emit a signal that can be detected noninvasively from the recipient’s urine.
NEW YORK – Digital health company Thirty Madison has raised $12.5 million in Series A funding to launch Cove, a direct-to-consumer health care company that will offer personalized treatment solutions for migraine sufferers. “We know that consumers expect more from their healthcare than they’re currently getting,” said Steven Gutentag, co-founder of Thirty Madison, in a statement. “Most young people no longer have a primary care physician, the costs of care are skyrocketing and patients are increasingly thinking like consumers—yet the health care experience has not evolved to meet any of this. We want to change that.” Cove provides a virtual consultation with a licensed physician and a personalized treatment plan, including symptom tracking. Thirty Madison will also use the Series A funds to continue growing their first brand Keeps, a digital platform for male pattern baldness. The company will launch Cove later this year.
NEW YORK – Hero has raised $12 million in Series A funding and launched a new medication management platform. The automated in-home medication manager intuitively sorts and dispenses medication, has audible and digital reminders, automates refills and provides real-time and historical adherence data. “I knew there had to be a way to use technology to ease the daily burden of managing multiple medications and to provide reliable support to caregivers, while addressing some of the obstacles in place from our challenged healthcare system,” said Kal Vepuri, founder and CEO of Hero, in a statement. The Hero system includes: the Hero countertop device which automatically stores, dispenses and tracks medications; the Hero mobile app that creates and manages all medication regimens, sends notifications to caregivers regarding dispensed, skipped and additional doses, provides real-time access to drug information and tracks adherence over time; and the Hero fill service option, which prompts and manages the delivery of prescription medication, over-the-counter medication and supplements directly to the home.
NEW YORK – Digital health startup Wellth Inc. has raised $5.1 million in a recent round of funding to expand its team to meet growing demand from the marketplace and to execute on strategic goals. Wellth works with insurers and providers to motivate patient behavior change and better adherence to treatment through the use of financial incentives and behavioral economics strategies via a mobile patient experience. “We are looking forward to working closely with our investors in this round to identify new opportunities within health insurance, life insurance, health systems and the pharmaceutical industry,” said Matt Loper, CEO and co-founder of Wellth, in a statement. “We hope to use these new avenues to establish a wider range of use cases to improve patient health and drive down costs for insurers and health systems.” Wellth’s mobile solution includes daily digital contextual and personalized nudges, as well as quick “check-ins” for daily medications for patients with Type 2 diabetes, congestive heart failure, chronic obstructive pulmonary disease and other conditions.
LOS ANGELES – Telehealth technology provider SnapMD has raised $7.1 million in Series B funding to further advance its technology platform and accelerate sales and marketing efforts. The company’s Virtual Care Management telehealth software is a digital health system that enables providers to deliver virtual, high-quality and coordinated care. As a cohesive and complete suite of services in the cloud, the technology enables providers to launch and manage virtual care that can be scaled across a health enterprise and the care continuum. The white-label VCM platform is configured to support multiple hospital and health system service lines with unique operational requirements, and with architecture that can be integrated to work with existing and future systems. “Since our inception, SnapMD has been focused on improving patient care,” said Dave Skibinski, president and CEO of SnapMD, in a statement. “The new investment allows us to continue to further drive our marketing and business development efforts in support of our rapidly growing provider base across the country.”
AMSTERDAM — SkinVision has raised $7.6 million in funding to continue the development of a skin cancer screening app. “This investment places SkinVision at the forefront of the integration of machine learning within health care,” said Erik de Heus, CEO of SkinVision, in a statement. The app uses clinically validated machine learning algorithms to check for visible signs of skin cancer, comparing lesions to the 3.5 million photos already checked by SkinVision dermatologists within its database. The technology indicates which skin spots should be tracked over time, giving a low, medium or high-risk indication within 30 seconds. All high-risk photos receive extra personal advice from doctors on next steps to take within 48 hours. “This funding will be instrumental in reaching our target of saving 250,000 lives by 2027. We have seen huge growth in the past year and this investment will help us to expand our insurance provider partnerships, ensuring that as many people as possible are provided access to the technology.” In May the company won the Dutch Digital Health Challenge for their work with Dutch health insurer CZ.
SAN FRANCISCO — Profusa, a company that develops tissue-integrating biosensors for the continuous monitoring of body chemistries, has raised more than $45 million in a Series C financing. New investors, VMS Investment Group, Tasly Pharmaceutical Group and Maxim Integrated Ventures, joined existing investors, 3E Bioventures Capital and Atinum Investment, in this latest round of funding. Profusa plans to use the proceeds from the financing to advance the commercialization of its Profusa Lumee Oxygen Platform for continuous, real-time monitoring of tissue oxygen and to accelerate the development of its transformative glucose biosensor technology. “We appreciate the support and confidence of our new and existing investors,” said Ben Hwang, chairman and CEO of Profusa, in a statement. “Together, we are working to realize our vision of revolutionizing the management and utilization of personalized healthcare data.”
BOSTON – Digital medicine company Akili has raised $13 million in new funding as an extension of its Series C financing, bringing the total capital raised this year to $68 million. The company’s digital medicines embed specific stimuli designed to engage targeted areas of the brain into immersive action video game experiences to treat medical conditions across neurology and psychiatry. “Both Akili and the broader field of digital medicine have been advancing at a significant pace,” said Eddie Martucci, CEO of Akili, in a statement. “This additional backing from investors will help us significantly drive forward the development and deployment of our technology platform toward our goal of having a major impact in millions of patients and toward fulfilling the immense promise of digital medicine.”