New age health startups are all the rage right now and rightly so since they are introducing new ways to better our health and lives. By leveraging some of the cutting edge technologies available, many medtech startups have already made a name for themselves. The UK-based healthtech startup Medopad is one such company that has come a long way since it was established in 2011.
Funding details
Medopad has announced of securing €22.5M in Series B round of investment, which was led by Leaps By Bayers. With the new investment, Medopad’s total amount raised till now stands over €45 million and with the freshly acquired funds, the company aims to support new clinical studies, including digital biomarker discovery and creation of digital therapeutics (DTx). It will also focus on technology development, geographic expansion and
Commercial growth through strategic collaborations
The founder and CEO of Medopad, Dan Vahdat, says, “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.”
Funding new research for Digital Biomarkers
Medopad was founded in 2011 by Dan Vahdat and Rich Khatib. The company teams up with scientists, healthcare and pharmaceutical professionals, and technologists to build proactive healthcare category via a portfolio of DTx and digital biomarkers. These digital biomarkers are a relatively new category in healthcare that collates data to risk predict, detect condition progression and enable diagnosis through digital technologies. The new Series B investments will be used by the company to discover digital biomarkers and develop DTx.
Medopad currently has several clinical trials underway to develop new digital biomarkers for conditions like Aortic Stenosis (AS), Parkinson’s, Diabetic Neuropathy, and Depression. With its modular approach that covers a wide variety of disease areas to deliver better and more personalised care, the startup aims to transform the way patients and data interact with clinicians.
Image credits: Medopad
Stay tuned to Silicon Canals for more European technology news.