Swing Therapeutics Closes $10.3M Series A Funding Round, Begins Enrollment in Pivotal Phase 3 Clinical Trial
Summary
The company also announced the commencement of its PROSPER-FM pivotal Phase 3 trial for its digital therapeutic for the treatment of fibromyalgia, which has received U.S. Food and Drug Administration (FDA) Breakthrough Device Designation.The company plans to use its Series A funding to support the execution of the PROSPER-FM randomized clinical trial and to launch an affiliated telemedicine clinic. Results from the study were presented at the American College of Rheumatology annual meeting in November 2021.The PROSPER-FM study is investigating the effectiveness of two treatments for fibromyalgia: Digital Acceptance and Commitment Therapy (ACT), a form of cognitive behavioral therapy; and a Digital Symptom Tracker. We are enthusiastic about Swings innovative approach to fibromyalgia, a painful condition that impacts every facet of the lives of its sufferers and disproportionately affects women, said Chelsea Clinton, co-founder, Metrodora Ventures. Because fibromyalgia manifests differently across the affected patient population and can be masked by other accompanying conditions, it is difficult to diagnose and treat.Swing Therapeutics was founded in 2019 with the goal of developing digital treatments and services in disease areas where patients are not well-served, and where digital interventions may be effective. Swing Therapeutics received FDA Breakthrough Device Designation for its digital therapy for fibromyalgia management.