Company name: Elcelyx Therapeutics.
Industry: Pharmaceuticals.
Why Pharma Companies Should Look To Social Media For Better Patient Insight
Healthcare decision-makers, especially at pharmaceutical companies, must prioritize patient input. Data collected from social media listening is a significant step in the right direction.
Location: San Diego, California.
Solution/product: Lovidia is a dietary supplement that helps in weight loss; NewMet treats type 2 diabetes.
Money raised: $4 million of a $7 million extension round; filings show it has raised $20 million to date.
How it will be used: To fund clinical trials of Lovidia and NewMet.
Automation Didn’t Dehumanize Care. Bad Systems Did.
We have the opportunity to design systems that give people greater capacity for the work where human presence matters most: listening, understanding, reassuring, deciding, and caring.
Investors: Morganthaler Ventures, Kleiner Perkins Caufiled & Byers, Technology Partners.
Management team: Dr. Alain Baron, president and CEO; Martin Brown, chief business officer; Mark Fineman, vice president of R&D; Mark Wiggins, senior vice president, business development.
Market size: Market for antiobesity drugs to reach $3.1 billion by 2016; global type 2 diabetes therapeutics market will be $45.1 billion by 2020.
Competitors: Eli Lilly, Novo Nordisk, GSK — diabetes; Vivus, Arena Pharmaceuticals — weight loss drugs.
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