Digital healthcare start-up Medopad has earned $25m in an investment round led by Leaps by Bayer, the German pharmaceutical multinational’s venture capital arm.
The investment, which brings Medopad’s total funding to over $50m, will be used to help develop the company’s digital health platform and to fund new clinical studies.
Medopad’s flagship project is the development of digital biomarkers, which collect and patient collate data to predict risk, condition progression and diagnosis, for chronic diseases including Parkinson’s, Alzheimer’s and Diabetes.
The data collected through Medopad’s technology allows life sciences companies to validate the effectiveness of their treatments and thus bring them to market faster.
The investment will support clinical trials on these conditions, as well as heart condition Aortic Stenosis.
Dan Vahdat, founder and chief executive officer of the start-up, said: “We are delighted that Leaps by Bayer who participated in our Series A round have now become the lead investor in our Series B.
We have found the ideal partner with the dedication to help us reach our vision of creating a world where each person lives their life to the fullest.”
Medopad has also been working with Chinese conglomerate on a joint AI lab, developing digital medicines.
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Dr. Wei Fan, executive director of Tencent Medical AI Labs, commented: “Our joint Tencent/Medopad lab uses AI techniques to solve clinical problems such as motion disorder syndromes such as Parkinson’s disease, cancer, psoriasis and the early detection of heart failure.
“Over the past two years, we have worked extensively with Medopad to develop and clinically validate digital biomarkers and digital therapeutics for Parkinson’s, psoriasis, heart failure and more.”
Main image credit: Getty