The UK-based healthtech startup Medopad that rebranded to Huma back in April 2020 is on a mission to go beyond remote patient monitoring and into digital biomarkers and therapeutics. In a recent development, the healthtech company announced that it has raised $130M (approx €107.5M) in its Series C round of funding.
In addition, the company also mentions that a further $70M (approx €57.9M) commitment that can be exercised at a later date, has also been agreed as part of the funding, taking the total raised to over $200M (approx €165.4M).
The round is led by Leaps by Bayer and Hitachi Ventures, with new strategic and financial investors also becoming shareholders. This includes Samsung Next, Sony Innovation Fund by IGV, Unilever Ventures, and HAT Technology & Innovation Fund by HAT. Besides, former president of SoftBank Nikesh Arora and chairman of Allianz Michael Diekmann also participated in this round.
Goldman Sachs International acted as lead placement agent to Huma. HSBC Bank plc± and Nomura acted as joint placement agents, with the latter also becoming a shareholder.
Funds for expansion
The raised capital will help Huma to expand its digital platform in the US, Asia, and the Middle East. The funds will also help scale Huma’s modular platform, which can power digital ‘hospitals at home’ nationally and support the pharmaceutical and research industries to run decentralised clinical trials.
Dan Vahdat, Founder & CEO of Huma, says, “This is a pivotal moment in Huma’s development. We have exceptional partners and strategic investors who will support us in our mission to help people worldwide live longer and fuller lives. We’re already demonstrating how ‘hospital at home’ can transform healthcare and how decentralised clinical trials can advance research in ways that weren’t imaginable even one year ago. Now we want to accelerate the pace of change and continue to innovate for better care and research worldwide.”
Digital ‘hospitals at home’
The digital ‘hospital at home’ was co-created with clinicians and has been independently shown to almost double clinical capacity, reduce hospital readmissions by over a third, and has patient adherence levels of over 90 per cent.
The service is supporting governments’ pandemic responses on a not-for-profit basis and is now used for a range of patients, including those going through knee- and hip-replacement surgery, e.g. with Smith & Nephew – a medical equipment manufacturing company.
Dr Claudia Suessmuth Dyckerhoff, Huma Board Director, says, “The pandemic has exposed weaknesses across health systems around the world, but through collaboration, innovation, and compassionate leadership Huma can support faster and safer care for patients through digital technologies and rapid access to treatments by accelerating clinical research.”
The company claims to have established a reputation as a trusted health technology and innovation partner to four national governments, including England’s NHS, Wales, Germany, and UAE.
The company was founded in 2011 by Dan Vahdat and Rich Khatib. Huma is a global health technology company that provides a modular platform to support digital ‘hospitals at home’ across different disease areas.
Partnering with scientists, healthcare and pharmaceutical professionals, and technologists, Huma’s platform combines predictive algorithms, digital biomarkers, and real-world data to advance proactive, predictive care and research.
Dr Claudia Suessmuth Dyckerhoff joined Huma’s Board of Directors in April, bringing a global experience in life sciences and healthcare. In the past year, the company’s team has hired specialists across technology and AI, legal, healthcare, life sciences, and corporate affairs.
Helping hands during the pandemic
Huma works with leading life science companies, including AstraZeneca, Bayer and Janssen, and academic institutions such as Stanford Medicine, the Johns Hopkins Bloomberg School of Public Health and the University of Cambridge. Its research at the intersection of predictive care and machine learning has been peer-reviewed and published across a range of scientific and medical journals.
The company offers Covid-19 digital services, not-for-profit, to national governments to help fight against the pandemic and have shipped over a million devices that complement its ‘hospitals at home’ to help power them. Huma advanced its work in the US in 2021 with an experienced team that has fostered new partnerships with clinical research organisations, health care providers, payers, research organisations, and technology companies.