Ieso Digital Health secures £39 million Series B investment led by Morningside
Summary
US investor Morningside leads Series B financing to develop clinical software treatments for US market Financing led by Morningside, alongside new investors including Sony Innovation Fund and further participation from existing shareholders, IP Group, Molten Ventures and Ananda Impact Ventures The funds will help take AI-enabled, evidence-based digital therapeutics through regulatory approvals and to market in the US and UK iesos 460,000-hour therapy dataset and real-world evidence platform offers a route for accelerated development and trialing of personalized mental health treatmentsBoston, MA and Cambridge, UK, 23 November 2021 ieso, a UK leader in digital mental healthcare, today announces the completion of its $53 million Series B financing round led by investment firm Morningside, with further new investment from Sony Innovation Fund and existing shareholders IP Group, Molten Ventures and Ananda Impact Ventures.Each year, 1 in 5 people experience a mental condition and depression is estimated to cost the global economy $1 trillion. Whilst we have seen an explosion in the number of mobile apps to help address mental health conditions, there is an urgent need for true digital therapeutics which have been approved for treating patients. With a growing network of 600 fully qualified therapists, ieso serves more than 20 million adults through the UK National Health Service (NHS).By analysing over 500 million data points contained in the worlds largest outcome-linked mental health dataset, iesos AI and data research teams are decoding the active components of therapy and enabling ground-breaking approaches for digital therapeutics (DTx). They have already created AI tools that review therapy sessions to highlight suboptimal treatment and drive improved patient recovery outcomes.ieso is developing new digital therapeutic products that will support the transformation needed in mental healthcare. The short-term ambition is to bring a rolling pipeline of regulatory-approved autonomous digital assessment and treatment products to the UK and US markets.For more information, visit www.iesogroup.com and connect with us on Twitter @IesoHealth and LinkedIn.With 1 in 4 people in the UK, and 1 in 5 in the US, having a diagnosable mental health condition and less than half of those affected receiving treatment, the need for clinically evidenced recovery based digital therapies has never been more pressing.Poor mental health is a leading cause of disability worldwide.