Health IT, Patient Engagement, Startups

Medication monitoring company for asthma, COPD attracts $14.5M

Propeller Health, which developed an FDA-cleared sensor to track where and when patients with asthma, […]

Propeller Health, which developed an FDA-cleared sensor to track where and when patients with asthma, COPD and other respiratory diseases use their inhalers and take medication related to their condition, has closed a Series B round to accelerate product development and ramp up sales and marketing.

Safeguard Scientifics led the financing for the $14.5 million round which also had participation from Social + Capital Partnership. Gary Kurtzman, managing director for healthcare at Safeguard, said in a company statement that Propeller was positioned at two critical points in healthcare that were appealing to the company: diagnostics and data driven outcomes management.

Other investors in Propeller have included California HealthCare Foundation, Kapor Capital, and angel investor group Silicon Pastures.

The platform uses a sensor which attaches to the top of an inhaler. The company, which used to be called Asthmapolis, also makes use of apps and data analytics to help users share the information collected on their medication use with medical professionals and family. An iOS and Android app give users personalized feedback and offers information on how they can improve the management of their condition.

In May, the company received 510(k) clearance from the FDA to update its sensor. The new version can help predict flare-ups for patients with asthma and COPD. It compares Metered-Dose Inhaler use to what’s normal for the patient and clinical guidelines, and alerts care teams to people who do not have their disease under control, or who may be worsening. As part of its program to improve adherence, a coaching program also includes teaching users how to improve the way they use their inhaler.

Improving medication adherence for chronic conditions such as asthma and COPD is key to knocking down unnecessary hospitalization costs. Asthma and COPD are estimated to cost payers and patients more than $100 billion annually, but the CDC estimates that managing the care of COPD alone will cost upwards of $90 billion by 2020, according to the statement.

Chris Hogg also joined Propeller as COO. His work will focus on the product and data teams and he will be based in San Francisco. He had previously worked for 100Plus, a mobile health business that takes a similar approach as Propeller Health, particularly in the use of collecting and analyzing data based on location to help people better manage their health.

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