Digital therapeutics startup Swing Therapeutics wrapped up a $10.3 million Sequence A funding spherical led by Jazz Enterprise Companions.
Different individuals within the elevate embody Alumni Ventures, AME Cloud Ventures, Asahi Kasei Company Ventures, Gaingels, Kicker Ventures, Mana Ventures and Metrodora Ventures. Swing Therapeutics was based in 2019 and launched with $9 million in seed funding.
WHAT THEY DO
Swing focuses on constructing and testing a digital therapeutic for fibromyalgia, which causes widespread musculoskeletal ache in addition to fatigue, sleep, reminiscence and temper issues.
In August, the startup introduced it had acquired FDA Breakthrough System designation for its smartphone-administered therapeutic, a 12-week program that makes use of acceptance and dedication remedy (ACT), a sort of cognitive behavioral remedy, to assist sufferers perceive and handle their signs.
Swing plans to make use of the Sequence A to help its PROSPER-FM randomized scientific trial learning the effectiveness of its digital ACT program and its symptom tracker. It additionally will use the funds to open an affiliated telemedicine clinic.
“Individuals residing with fibromyalgia have restricted remedy choices, and behavioral therapies and different non-pharmacologic approaches are sometimes not simply accessible,” Dr. Lesley Arnold, lead investigator of the PROSPER-FM examine, stated in a press release. “I’m wanting ahead to evaluating additional how Swing’s remedy would possibly enhance fibromyalgia administration utilizing an strategy that might be available to folks with fibromyalgia, lots of whom proceed to have unmet remedy wants.”
MARKET SNAPSHOT
One other firm within the digital therapeutic area, AppliedVR, makes use of cognitive behavioral remedy in digital actuality periods to handle persistent ache. The startup acquired FDA De Novo clearance to make use of its VR system to deal with persistent lower-back ache final yr, across the identical time it introduced a $36 million Sequence B.
Late final yr, digital irritable bowel syndrome (IBS) care startup metaMe Well being acquired FDA 510(okay) clearance for Regulora, a prescription digital therapeutic (PDT) that delivers gut-directed hypnotherapy to alleviate stomach ache related to IBS in adults. The corporate lately partnered to convey the PDT to market, not lengthy after a $2.2 million elevate.
Others providing digital therapeutics embody Happify Well being, Pear Therapeutics, Large Well being and Alex Therapeutics.
