Proteus Digital Health has secured $50 million in Series H financing to further expand its Digital Medicine platform. The company plans to drive increased adoption of its Proteus Discover offering by partnering with health system customers.
“This financing demonstrates confidence in our Digital Medicine platform and deliberate, staged approach to market building,” Andrew Thompson, President and CEO of Proteus Digital Health, said in a statement. “We are at the forefront of the digital transformation of healthcare, and are excited to work with our customers, partners and investors to help lead the way.”
Proteus’ Digital Medicine offerings consist of a sensor-enabled pill, a small wearable patch, and applications that can be accessed via mobile devices by patients and healthcare providers. Proteus Discover directly measures medication-taking (adherence) and physiologic metrics to support patient self-management and to help physicians and care teams optimize therapy.
The company’s FDA cleared Ingestible Sensor, which is the size of a grain of sand, is co-encapsulated (placed into a capsule) with the patient’s prescribed medications by a pharmacist, based on a healthcare provider’s prescription. When the patient takes this medication, the Ingestible Sensor sends a signal to the wearable patch, which records the time each pill is swallowed and also collects physiologic metrics such as heart rate, physical activity, and rest.
Barton Health was the first health system to implement Proteus’ digital health solution, starting with patients with uncontrolled and co-morbid hypertension.
Although no names were mentioned in the press release, mHealth Spot earlier reported that Chinese drug maker Gloria Pharmaceuticals is planning to invest $40 million into the company so it could bring Proteus’ technology to China.