Medopad, a U.Okay.-based well being expertise startup that makes use of machine studying and massive knowledge analyses to assist predict and handle continual illnesses, has raised $25 million in a sequence B spherical of funding led by Leaps by Bayer, the VC arm of German pharmaceutical big Bayer, with participation from NWS Holdings and Healthbox, amongst different traders.
Based out of London in 2011, Medopad connects sufferers with a spread of medical professionals and goals to “perceive, deal with, and finally stop sick well being.” On the coronary heart of its platform is an app that integrates well being knowledge from medical our bodies, cellular gadgets, and affected person wearables. By making use of AI to giant knowledge units, Medopad says it will probably generate predictive insights which will detect medical situations.
“Medopad has a daring mission to assist individuals dwell their life to the fullest — one which requires long-term dedication and partnership to realize,” mentioned Medopad founder and CEO Dan Vahdat.
Medopad claims quite a few high-profile companions from throughout the pharmaceutical, analysis, insurance coverage, and expertise realms. Again in 2015, it was one of many first well being apps out there on the Apple Watch, the place it was utilized by King’s Faculty Hospital in London to observe chemotherapy sufferers. Final yr, Medopad introduced a partnership with China’s Tencent to make use of AI to enhance the diagnostic accuracy for situations corresponding to Parkinson’s illness. This effort has concerned establishing a medical AI lab with a globally distributed workforce of 50 individuals working to develop “digital biomarkers and digital medicines” for China.
“Our joint Tencent/Medopad lab makes use of AI methods to unravel scientific issues, corresponding to movement dysfunction syndromes [like] Parkinson’s illness, most cancers, psoriasis, and the early detection of coronary heart failure,” mentioned Dr. Wei Fan, government director of Tencent Medical AI Labs.
By remotely monitoring sufferers, healthcare professionals can observe unwanted effects of medication and dosage, for instance, and keep away from the journey time concerned in assembly in particular person. Moreover, the Medopad app can be utilized to solicit checks for situations corresponding to Pulmonary Hypertension, a type of hypertension that may have an effect on the arteries within the lungs and coronary heart. Such a take a look at may embody a standardized six-minute stroll take a look at (6MWT) to measure signs and a sequence of quality-of-life questions.
A slew of digital well being platforms have come to the fore lately, overlaying every part from health trackers to step counters and sleep trackers, in addition to sensors for monitoring coronary heart charge, coronary heart rhythm, and blood strain. Apple is investing closely in well being monitoring instruments enabled by the mass proliferation of iPhones and the Apple Watch, whereas Google is ramping up its funding within the well being sphere, evidenced by final week’s announcement that it plans to accumulate Fitbit for greater than $2 billion.
Mixed, wearables and linked gadgets create an unimaginable quantity of knowledge about people, with knowledge factors often known as digital biomarkers used to foretell health-related outcomes.
Medopad had beforehand raised round $29 million, the majority of which got here by its sequence A spherical practically two yeas in the past. With one other $25 million within the financial institution, it plans to assist continued growth of scientific research and pursue R&D initiatives with scientific and life science our bodies to “uncover digital biomarkers and develop digital therapeutics (DTx),” in line with an announcement issued by the corporate. It additionally plans to push its merchandise and partnerships into extra geographies globally.
Medopad has quite a few present scientific trials presently underway, together with one with its newest lead investor, Bayer Prescription drugs. Certainly, Bayer has signed as much as entry Medopad’s intensive hospital attain and analytics to develop AI-powered therapies for these with Coronary Artery Illness (CAD).
As with most different industries, AI is more and more infiltrating the healthcare realm, as medical researchers and professionals search new methods to optimize therapies and convey medicine to market extra shortly. Prior to now month alone, Healx raised $56 million to additional develop its AI platform that seeks new drug therapies for uncommon illnesses, whereas Viz.ai secured $50 million for AI that detects early indicators of stroke. Elsewhere, Verisim Life just lately closed a $5.2 million seed spherical to create AI-powered biosimulations that may change animal drug testing.
Right now, Medopad claims 100 staff unfold throughout the U.Okay., North America, and Asia Pacific, boosted by its first — and so far, solely — acquisition. Final yr, Medopad snapped up U.S. rival Sherbit, which operated an identical enterprise — leveraging private knowledge to uncover well being insights by sensors, gadgets, and apps.
Medopad was beforehand touted as a unicorn within the making by KPMG, and whereas it has but to realize that standing, its newest funding spherical with such a high-profile strategic backer places it on a robust trajectory. An organization spokesperson advised VentureBeat that Medopad’s valuation is now within the $200 million to $300 million vary.
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