Propeller Health’s app and connected inhalers.
Propeller Health, which developed a way for pharma companies and patients to quantify and contextualize asthma and COPD medication adherence, closed a $21.5 million Series C financing round, according to a news release. The company also took part in MedCity News’ patient engagement conference, ENGAGE, this week.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
SR One, the investment arm of GlaxoSmithKline, Hikma Ventures, part of Hikma Pharmaceuticals, and 3M Ventures, all new investors to Propeller Health, took part in the Series C round alongside existing investors Safeguard Scientifics and Social Capital.
“These organizations, who join Social Capital and Safeguard (among others), reflect the types of pharmaceutical and medical technology partners we increasingly work with to connect respiratory medications to Propeller and our system of digitally guided therapy,” Propeller Health CEO David Van Sickle said in response to emailed questions.
Propeller Health developed a platform cleared by the U.S. Food and Drug Administration in which its sensors are attached to inhalers to record when patients take their asthma or COPD medication. It’s the kind of data that pharma companies and providers are keen to have to quantify and improve medication adherence, predict exacerbations and to reduce the frequency of symptoms in asthma and COPD patients. Propeller Health has forged deals with GSK, as well as Boehringer Ingelheim and this year inked a deal with Vectura, which partnered with Hikma Pharmaceuticals.
Van Sickle noted that in the next six to 12 months, Propeller plans to add more respiratory medications to its software platform and expand commercial operations with healthcare systems in the U.S. and abroad.
“We’ll continue to increase the amount and type of data we gather, too, and use that information to help patient-physician teams identify and apply the right treatment and approach for a given individual.”
In an August interview with MedCity News, Propeller Health COO Chris Hogg offered a glimpse of how he expects the beyond the pill trend, which includes companies like Propeller Health, to evolve.
“In the next few years, we will begin to see new, differentiated products approved with the combination of medicines and digital experiences. These will be marketed as line extensions for existing branded drugs or as repurposed generic medications. In some cases, the digital component will be integrated directly into the medication or medication dispenser (i.e.: Propeller or Proteus Digital Health), or in some cases as a “digital wrapper” around a medicine (i.e.: Pear Therapeutics or Glooko).”
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