The UK based start-up Medopad has raised £19.3m investment led by Bayer to further develop its digital health platform.
The capital will be used for clinical studies including digital biomarker discovery, creation of digital therapeutics, technology development, geographic expansion and commercial growth through strategic collaborations.
Dan Vahdat, founder and CEO of Medopad, said “Medopad has a bold mission to help people live their life to the fullest – one that requires long-term commitment and partnership to achieve. We are delighted that Leaps by Bayer who participated in our Series A round have now become the lead investor in our Series B.”
“We have found the ideal partner with the dedication to help us reach our vision of creating a world where each person lives their life to the fullest.”
The company has now raised over $50m since 2011.
Medopad partners with scientists, technologists, and healthcare and pharmaceutical professionals to create a portfolio of digital biomarkers and digital therapeutics. Digital biomarkers, a new category in medicine, seeks to collate data to predict risk and condition progression and diagnosis through digital technologies.
The app is designed to provide knowledge with medical conditions to support care and treatment for patients with chronic illness. Its new services include a clinical validation engine to run clinical trials of digital medicine, a portfolio of disease-specific digital modules with digital biomarker capabilities, and new device integration.
Medopad has several clinical trials underway for conditions such as Aortic Stenosis, Parkinson’s, Diabetic Neuropathy, and Depression.
Dr. Wei Fan, Executive Director of Tencent Medical AI Labs, commented: “Our joint Tencent/Medopad lab uses AI techniques to solve clinical problems such as motion disorder syndromes such as Parkinson’s disease, cancer, psoriasis and the early detection of heart failure.”
“Over the past two years, we have worked extensively with Medopad to develop and clinically validate digital biomarkers and digital therapeutics (DTx) for Parkinson’s, psoriasis, heart failure and more.”
