Medopad Discloses Funding for Ambitious Digital Medicine Innovations
5 November 2019 - LONDON - Medopad, a fast-growing healthtech AI startup headquartered in London, has earned investment in a funding round led by Leaps by Bayer in to further develop its digital health platform. The investment brings Medopad’s total amount raised to over $50M. The company will use the new funds to fuel clinical studies, including digital biomarker discovery, creation of digital therapeutics (DTx), technology development, geographic expansion and commercial growth through strategic collaborations.
Medopad partners with scientists, technologists, and healthcare and pharmaceutical professionals to understand, treat, and ultimately prevent ill health by helping to build a proactive healthcare category via a portfolio of digital biomarkers and DTx. Digital biomarkers are a new category in medicine which seeks to collate data to predict risk and condition progression and diagnosis through digital technologies. Medopad has expanded its capabilities beyond its core remote patient monitoring product and now offers a range of services to global life sciences and technology partners to increase the speed that new digital biomarkers and DTx can be developed, validated, and deployed to achieve proactive and preventative health that keeps patients out of hospitals.
Medopad’s app and clinician platform gives knowledge and power to those with medical conditions while saving clinicians time, energy, and valuable resources to drive better diagnosis, care, and treatment for patients with chronic illnesses. This valuable data exchange has enabled Medopad to develop new services which include access to world-leading clinicians, key opinion leaders (KOLs) and healthcare systems, a clinical validation engine to run clinical trials of digital medicine, a portfolio of disease-specific digital modules with digital biomarker capabilities, device integration, patient data storage & regulatory platform across US, China and Europe and deep expertise in payment systems and reimbursement codes.
Dan Vahdat, founder and CEO of Medopad, commented, “Medopad has a bold mission to help people live their life to the fullest - one that requires long-term commitment and partnership to achieve. 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.”
New Research for Digital Biomarkers
Medopad intends to use some of its new investment to focus on R&D projects in partnership with leading clinical and life science institutions to discover digital biomarkers and develop DTx.
Medopad has several clinical trials underway that this new investment will support, for conditions such as:
- Aortic Stenosis (AS) - Clinical trial with Royal Wolverhampton that will test whether a digital application for AS can effectively optimise the timing of intervention and improve prognosis in patients with asymptomatic severe aortic stenosis, a condition where the heart valve narrows and restricts blood flow. On the project, Professor James Cotton at The Royal Wolverhampton NHS Trust said, “This is a very exciting project and fits with our ethos of ‘proactive’ and ‘one to many care’ which, we think, will benefit patients and release valuable clinical time.”
- Parkinson’s, Diabetic Neuropathy, and Depression - Medopad also has three feasibility studies underway with a Contract Research Organisation that seeks to identify gait and voice-based digital biomarkers in patients.
Strategic Collaborations in Life Sciences and Beyond
It takes a life sciences company more than ten years to bring a new drug to market. For life sciences companies, Medopad provides a way to validate their treatments with real-world data to get to market faster to improve patients’ well-being.
Some of Medopad’s strategic collaborations in life sciences include:
- Bayer Pharmaceuticals: Bayer has signed a project that leverages Medopad’s ecosystem, extensive hospital reach and analytical capabilities to develop AI-driven digital and molecular cardiovascular therapies for those with Coronary Artery Disease (CAD). It aims to create one of the most comprehensive prospective cardiovascular databases that will combine and analyse clinical, observational, biochemical, and genomic data with machine learning to develop biomarkers and digital therapeutics. The project begins in Hong Kong and will scale into additional countries.
- Janssen: Medopad is working with Janssen Pharmaceuticals, Inc., one of the Janssen Pharmaceutical Companies of Johnson & Johnson to validate, scale and potentially commercialise the ReVeRe® platform as a novel digital biomarker for Alzheimer's disease (AD). This deal was facilitated by Johnson & Johnson Innovation Limited. The ReVeRe® platform, developed and clinically validated by Janssen Pharmaceuticals, Inc., aims to enable reliable, remote and automated assessment and monitoring of verbal memory in individuals at risk of AD. The goal of this collaboration is to implement a home-based, validated automated cognitive tool that could facilitate unsupervised and reliable longitudinal assessment of early cognitive decline due to AD within a real-world environment.
- Discover-NOW: Medopad is also a participant in the new consortium led by Imperial College Health Partners (ICHP), creating a Health Data Research Hub for Real World Evidence in the UK, alongside companies such as Google Health, AstraZeneca, and IBM.
- Tencent Medical AI Lab: Medopad and Tencent have jointly committed to establishing a medical AI lab with 50 team members working globally on AI projects to develop digital biomarkers and digital medicines in China.
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 (DTx) for Parkinson’s, psoriasis, heart failure and more.”
Medopad now has over 100 employees in the UK, APAC, and North America, building partnerships, ecosystems, and clinical validation. It will use its new investment to grow its technology, clinical and commercial teams further.
Medopad is a global health technology company that aims to use data and technology to give everyone the full picture of patients’ health to help people live longer, fuller lives. Medopad partners with the world’s largest healthcare systems, pharma companies, research institutes, insurers and technology companies like Apple and Tencent to create a connected health ecosystem that empowers patients, improves clinical outcomes and enables the future of healthcare. www.medopad.com