PhysIQ, a Chicago, IL-based developer of solutions that leverage artificial intelligence (AI) to empower digital health for ambulatory patient monitoring and clinical trial support, closed an $8m Series B financing.
The round was led by 4490 Ventures with participation from the Global Health Sciences (GHS) Fund through Quark Venture Inc. and GF Securities, along with existing investor LionBird and others. In conjunction with the funding, Dan Malven, Managing Partner at 4490 Ventures, and Zafrira Avnur, PhD, Chief Scientific Officer at Quark Venture, have also both joined PhysIQ’s Board of Directors.
The company intends to use the funds for the commercial launch of the physIQ VitaLink solution.
Led by Gary Conkright, CEO, Director and Founder, physIQ VitaLink collects continuous physiological patient data from wearable and implantable sensors and applies AI technology to transform this data into personalized patient insight. Healthcare providers, payers, pharmaceutical and medical device companies are leveraging the FDA-cleared personalized analytics to manage at-risk ambulatory patients while pharmaceutical and medical device manufacturers integrate VitaLink into their clinical trials in order to capitalize on new, “real world” data sets to validate the safety and efficacy of their products.
The VitaLink end-to-end solution includes:
– the physIQ software platform and AI analytics suite,
– third-party wearable biosensors,
– a mobile Android device for secure patient data transmission, and
– a clinician user interface.
As a data- and device-agnostic platform, it can accommodate any Bluetooth-enabled biosensor and has been engineered to be massively scalable and capable of continuously monitoring tens of thousands of patients at a time. The condition-agnostic personalized analytics solution is being studied and evaluated across multiple clinical use cases (e.g. post-acute skilled nursing, home health and clinical trials) and patient populations (e.g. heart failure, COPD, oncology and chronic pain).