Proteus Digital Health Raises Additional $50 Million in Equity Financing
REDWOOD CITY, CALIF. – April 15, 2016 – Leading Digital Medicine company Proteus Digital Health announced today it has secured $50 million in Series H financing. This investment further strengthens the company’s balance sheet and provides capital to expand the world’s first Digital Medicine platform.The company plans to drive increased adoption of Proteus Discover®, the company’s initial service offering, by partnering with health system customers to further demonstrate the outcomes that can be achieved with Digital Medicines. The additional capital expands the company’s investor base and underscores progress made since closing its previous Series G financing in 2014.
“This financing demonstrates confidence in our Digital Medicine platform and deliberate, staged approach to market building,” said Andrew Thompson, President and Chief Executive Officer of Proteus Digital Health. “We are at the forefront of the digital transformation of healthcare, and are excited to work with our customers, partners and investors to help lead the way.”
Digital Medicine offerings, such as Proteus Discover, consist of a sensor-enabled pill, a small wearable patch, and applications that can be accessed via mobile devices and other computers by patients and healthcare providers. Proteus Discover directly measures medication-taking and physiologic metrics to support patient self-management and to help physicians and care teams optimize therapy.
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About Proteus Discover®
Proteus Discover is an innovative Digital Medicine offering that includes drugs that communicate when they’ve been taken, wearable sensors that capture physiologic response, applications that support patient activation and physician decision making, and data analytics to serve the needs of health systems. The FDA cleared Ingestible Sensor, which is the size of a grain of sand, is co-encapsulated (placed into a capsule) with the patient’s prescribed medications by a pharmacist, based on a healthcare provider’s prescription. When a patient takes the co-encapsulated medication, the Ingestible Sensor sends a signal to the small wearable patch, which records the time each pill is swallowed and also collects physiologic metrics such as heart rate, physical activity, and rest. While the co-encapsulation model is on the market today, Proteus and the company’s partners are undergoing further FDA review for a panel of Digital Medicines, where the ingestible sensor is directly integrated into the medication.
About Proteus Digital Health®
Headquartered in Redwood City, Calif., Proteus is privately held and funded by leading institutional and corporate investors, including: Novartis, Otsuka, Oracle and Sutter Health. For more information, visit www.proteus.com.