Propeller Health, a Madison, Wis.-based digital therapeutics company, raised $20m in funding.
The round was led by Aptar Pharma, with participation from existing investors Safeguard Scientifics, Social Capital, Hikma, 3M Ventures and SR One.
The company intends to use the proceeds to invest in its pipeline of digital therapeutics and additional connected devices for the treatment of chronic respiratory disease, and begin to develop digital medicines for new therapeutic areas.
Led by David Van Sickle, co-founder and CEO, Propeller Health operates a platform that enables medical technology and pharmaceutical companies to conceptualize, develop and commercialize digital medicines. The company also offers distribution at scale through the Propeller Provider Network and payers, pharmacies and PBMs such as Express Scripts.
In addition, Propeller is working with industry experts and regulators to advance clinical research, real-world evidence and the design and validation of novel endpoints.
The company and Aptar Pharma also announced a strategic partnership to work with pharmaceutical brands to co-develop and co-market digital medicines across therapeutic areas, leveraging Aptar Pharma’s expertise in device development, packaging innovation and quality manufacturing.
Propeller’s platform is backed by 8 FDA 510(k) clearances and CE marking.