Headquartered in Madison, Wisconsin, Propeller Health was founded in the fall of 2010. The digital therapeutics company offers sensors that can attach to inhalers. Said sensors are also paired with a mobile app so patients can track their medication use and gain insight into how to cope with their condition.
Since its founding eight years ago, Propeller has had its share of accomplishments, including nine FDA clearances and commercial programs with payers, pharmaceutical companies and health systems.
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This year alone, Propeller closed a $20 million funding round and inked a strategic partnership with Aptar Pharma. The goal of the collaboration is to expand Propeller’s connected device capabilities beyond asthma and COPD inhalers to include other disease states. Shortly thereafter, it announced a strategic investment of an undisclosed amount from McKesson Ventures. Later this summer, the company also revealed a collaboration with Anthem Blue Cross Blue Shield through which Anthem Medicare Advantage members in Ohio with COPD can use Propeller’s offerings.
In a phone interview, two of Propeller’s co-founders — CEO David Van Sickle and CTO Greg Tracy — spoke about their organization’s achievements and the growth it has experienced. Propeller’s third co-founder, Mark Gehring, is no longer with the company.
Van Sickle commented on how Propeller has changed since 2010. “We were met with a lot of skepticism and questions about what the regulatory landscape was going to look like, as well as whether it would be able to deliver meaningful clinical value to patients,” he said.
Propeller’s evolution has been about accumulating clinical evidence to show digital therapeutics can be beneficial, Van Sickle added.
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Tracy echoed these thoughts, noting that acceptance has been key across multiple areas. In the eight years Propeller has been around, consumers have become more interested in being digitally connected.
There has been acceptance in the pharma space as well. “[Pharma companies are] not just selling drugs but are looking for ways to make those drugs more effective,” Tracy said.
Van Sickle agreed. “I think you’re seeing pharma and other healthcare organizations realize that there can be real value here,” he said.
But it’s not only about pharma companies and health systems. When asked about how Propeller is altering its approach to keep up with the changing field of digital therapeutics, Tracy pointed to keeping the focus on one stakeholder: the patient.
Looking ahead, the Wisconsin company intends to bring its approach to additional diseases through the aforementioned partnership with Aptar Pharma.
“We’re going to be working with Aptar in the future to prioritize and figure out where digital makes the most sense,” Van Sickle said. “You’ll see Propeller expand into some of those new therapeutic areas in the time ahead.”
Photo: Natalie Mis, Getty Images
