Biofourmis Hauls In $100M to Scale Digital Therapeutics Globally
Summary
The new capital, a Series C round of funding, was led by SoftBank, a Japanese conglomerate whose investments include companies working in digital technology and healthcare. The FDA-cleared product includes a sensor worn on the arm and a companion mobile app that together measure up to 20 medical parameters for the condition—collecting nearly 10 million data points per day, Biofourmis CEO Kuldeep Singh Rajput (pictured above) tells Xconomy. The company’s software analyzes the data to predict heart failure events, then makes recommendations to a physician to either increase or decrease a patient’s medication. Soon after, the company announced a collaboration with Novartis (NYSE: NVS) in which patients discharged from a hospital and prescribed the pharma giant’s blockbuster heart drug sacubitril/valsartan (Entresto) would also receive Biovitals. Biofourmis Health will continue the remote patient monitoring offerings provided through Biovitals, supporting those who are managing heart failure, coronary artery disease, respiratory conditions, and cancer.
Classifications
AskAI Classifications
LabelsLinked Companies
