Proteus Digital Health has managed to raise $120 million from new institutional investors based in the United States, Europe and Asia. As part of the deal, Steve Fieler will join the executive team as CFO, bringing its ten years of senior leadership experience from Hewlett-Packard; and Jonathan Symonds CBE, Chairman of HSBC Bank Plc and former CFO of Novartis AG, will join the company’s Board of Directors.

Proteus Digital Health is creating digital medicines which integrate medicines with ingestible, wearable, mobile and cloud computing to allow patients and physicians to make better decisions about health.“We are entering the commercial era of the Internet of Things (IoT) – your car, your clothes and increasingly your personal care products are going to be connected. Our focus is on partnering with major health systems to deliver solutions that enable consumers and their families to switch on their own healthcare, creating critical information that can be used to ensure they and their doctors make positive decisions about use of medicines and personal health choices,” said Andrew Thompson, President and CEO of Proteus Digital Health.”A key part of our success will be to ensure that we have the support of investors as we build this market. The financing we closed is an important demonstration of investor confidence in the growth potential created by IoT companies.”

Proteus Digital Health is creating a new category of products, services and data systems that promise to significantly improve the effectiveness of existing pharmaceutical treatments. Called digital medicines, these new pharmaceuticals integrate medicines with ingestible, wearable, mobile and cloud computing and deliver solutions that enable patients, their families and physicians to make better decisions about health.

The new money raised will advance the company’s plans to commercialize digital medicines at scale and further demonstrate outcomes benefits and cost savings achieved through digital health products.