HealthTech start-up Medopad raises $25m
HealthTech AI start-up Medopad has secured a $25m (£19.3m) investment to further develop its digital health platform.
The fresh capital will be used to fuel clinical studies, including digital biomarker discovery, creation of digital therapeutics, technology development, geographic expansion and commercial growth through strategic collaborations.
The investment brings the London-firm’s total amount raised to over $50m.
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.
Its app and clinician platform are designed to give knowledge and power to those with medical conditions while saving clinicians time in an effort to drive better diagnosis, care, and treatment for patients with chronic illnesses.
The data exchange has enabled Medopad to develop new services which 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.
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.”
Medopad intends to use some of its new investment to focus on research and development projects in partnership with clinical and life science institutions to discover digital biomarkers and develop digital therapeutics.
Medopad has several clinical trials underway that this new investment will support, for conditions such as Aortic Stenosis, Parkinson’s, Diabetic Neuropathy, and Depression.
Medopad also has three feasibility studies underway with a Contract Research Organisation that seeks to identify gait and voice-based digital biomarkers in patients.
Its strategic collaborations include Bayer Pharmaceuticals, with which it will develop AI-driven digital and molecular cardiovascular therapies for those with Coronary Artery Disease (CAD).
It is also working with Janssen Pharmaceuticals, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson, and Tencent Medical AI Lab, an arm of Chinese tech giant Tencent.
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.”