Proteus Digital Health, a Redwood City, Calif.-based digital medicines company, raised $120m in funding.
Major new institutional investors based in the United States, Europe and Asia participated in the round. In conjunction with it, Steve Fieler joined the executive team as Chief Financial Officer, while Jonathan Symonds CBE, Chairman of HSBC Bank Plc and former CFO of Novartis AG, was appointed to the Board of Directors.
The company intends to use the funds to advance its plans to commercialize digital medicines at scale.
Led by Andrew Thompson, President and Chief Executive Officer, Proteus Digital Health is creating a new category of products, services and data systems aimed at improing 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. They leverage the digital health feedback system, which provides a deep view into an individual’s personal health choices and physiologic response, allowing patients to better manage their health and effectively collaborate with caregivers and clinicians.
Proteus has received a CE mark in Europe and FDA market clearance in the U.S. for its wearable and Ingestible Sensor™ devices.