Source: Propeller Health
Propeller Health, which works with pharma companies to develop sensors to convert inhalers into connected devices, has closed a $20 million funding round and has inked a strategic partnership with Aptar Pharma. The goal is to expand its connected device capabilities beyond asthma and COPD inhalers to include other diseases and drug delivery devices.
Aptar Pharma led the round with a $10 million strategic investment, according to a company news release. Other companies in the round included existing investors Safeguard Scientifics, Social Capital, Hikma Ventures, 3M Ventures and SR One. Propeller previously closed a Series C round two years ago.
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Propeller and Aptar initially collaborated in 2016 on an integrated connected metered dose inhaler. They plan to co-market the technologies coming out of the joint venture — Propeller will manage the digital services and Aptar Pharma will manage the device development, manufacturing, and supply chain.
So, what direction will its drug delivery ambitions take them? In a phone interview, Propeller Health CEO and Cofounder David Van Sickle said the business will initially focus on connected injectables, such as biologics for treating severe asthma.
He noted that one thing that will happen through its expanded partnership is that Aptar will be to take on the responsibility of producing and manufacturing devices at scale and optimizing them for widespread distribution. The future is electronics being more integrated into drug delivery, according to Van Sickle. The goal is to industrialize connectivity.
“From there we think it is a short step to disease areas with high unmet medical needs. We include [in that category] immunology, diabetes, migraine and what I think of as other diseases that have a high unmet medical need and undifferentiated diseases area — either diseases with only one standard of care or with lots of similar products on the market.”
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He added: “The idea is to think about how the infrastructure that Propeller has accumulated can be expanded. Where can digital medicine be expanded?”
Several companies have added connectivity to medical devices and medical equipment so that patients can be monitored remotely so their medication use can be tracked and in case there are problems with their device, among other reasons. Similar to Propeller, Cohero Health developed a device aimed at connecting asthma and COPD inhalers to help health systems and payers remotely monitor their patients and engage them. It, too, works with pharma companies to jointly develop products. Last year, Bayer got FDA approval for its Betaconnect Electronic Autoinjector and myBetaApp. The connected auto-injector is designed for relapsing-remitting multiple sclerosis medications and was obtained via a supplemental Biologics License Application for the drug Betaseron. The goal of the device and companion app is to automatically record injections for the patient, who can share that information with healthcare professionals.