DoseMe, a Brisbane, Australia-based digital medical solutions provider, closed a $2.6m Series A financing.
The round brought the valuation of the company to $20m. Backers included veteran healthcare executives Greg Spurgin and Gary Cunningham, both founders of leading US outpatient orthopaedic physical therapy company Results Physiotherapy. Mr Spurgin will join Shark Tank star and DoseMe seed investor Steve Baxter, on the board.
The company will use the funds to commercialize DoseMe in Australia, expand into the US market, develop sales capability in Europe, and integrate the product into existing electronic medical record providers in key markets. The funding will help expand the number of drug molecules on the platform (including regulatory costs for each molecule in Australia, Europe where DoseMe has medical regulatory clearance, and the US where the submission is being assessed.
Led by CEO Charles Cornish and founder Dr Robert McLeay, DoseMe provides a software based precision dosing tool built on the principles of Bayesian dose forecasting, a mathematical algorithm that uses patient data and laboratory results to estimate a person’s metabolism – their ability to absorb, process and clear a drug from their system. DoseMe can simulate the potential outcome of different dosing regimens to support clinicians in making decisions for challenging cases and, in addition, it continues to learn over time, becoming always more refined in its dose recommendations.