Digital therapeutics (DTx) agency Sidekick Well being immediately introduced a elevate of $55 million (€52M) in Sequence B funding.
The spherical was led by London-based enterprise capital agency Novator Ventures, with extra participation from Wellington Companions, Asabys Companions, and Frumtak Ventures, and a US-based strategic investor that can be revealed at a later stage.
WHAT IT DOES
Sidekick develops and delivers personalised DTx and programmes for continual and life-style illness administration, starting from diabetes to ulcerative colitis and smoking cessation.
The agency operates in partnership with US-based well being firm Anthem Inc. to supply digital-first care programmes, in addition to world pharmaceutical giants Pfizer and Bayer, to develop built-in mixture therapeutics.
In the course of the top of the pandemic, Sidekick assisted the Authorities of Iceland by offering the distant triaging, distant monitoring and administration of individuals contaminated with COVID-19.
WHAT IT’S FOR
Sidekick, which has places of work in Berlin, Boston, Reykjavik and Stockholm, says it’s now seeking to additional diversify its portfolio by increasing its continual illness remedies throughout extra therapeutic areas, bolstering current partnerships and forging new alliances with key stakeholders throughout the healthcare ecosystem.
MARKET SNAPSHOT
In the meantime within the DTx area Berlin-based startup HelloBetter lately introduced a $4.2 million (€4M) extension of its $6.3 million (€6M) Sequence A funding spherical, bringing the whole funding spherical to $10.5 million (€10M). The funds can be used to push the commercialisation of HelloBetter’s merchandise within the German market and advance its growth.
Additionally this 12 months, Pfizer introduced a brand new strategic business partnership with Swedish startup Alex Therapeutics to create DTx for nicotine habit therapy for the German market.
In December 2021, UK digital psychological healthcare agency ieso introduced a elevate of $53 million (€47M) in Sequence B financing to assist take its DTx options by means of regulatory approvals and to market within the UK and US. Its core product gives synthetic intelligence (AI) powered digital cognitive behavioural remedy (CBT) delivered by a therapist.
ON THE RECORD
Sidekick chief government officer and cofounder Dr Tryggvi Thorgeirsson stated: “By harnessing the facility of expertise we have now a singular alternative to ship personalised remedies by way of smartphones and different cellular units, empowering folks to take management of their very own well being.
“The most important problem dealing with the world’s healthcare techniques is find out how to help and deal with people who find themselves coping with with two or extra continual circumstances. The cornerstone of Sidekick’s strategy is our multi-chronic digital therapeutics platform, and this funding will permit us to scale even quicker the manufacturing of a brand new era of scientific remedies throughout all main continual illnesses.”
Novator Ventures basic companion and founder Birgir Mar Ragnarsson, who has joined Sidekick’s board of administrators, stated: “Novator Ventures recognises the immense alternatives offered by third era therapeutics and Sidekick’s capability to scale and function on the world degree. We look ahead to working carefully with the Sidekick crew to rework how healthcare is delivered.”
