Sidekick, a Berlin, Germany, NYC, Kopavogur, Iceland, and Gothenburg, Sweden-based digital therapeutics company, raised $55M in Series B funding.
The round was led by Novator Ventures, with participation from Wellington Partners, Asabys Partners, and Frumtak Ventures, as well as a US-based strategic investor that will be revealed at a later stage. Novator Ventures general partner and founder Birgir Mar Ragnarsson joined Sidekick’s board of directors in conjunction with the closing of the Series B financing.
The company intends to use the funds to accelerate the multi-chronic capabilities of its platform and continue to grow its commercial presence in the United States.
Led by chief executive officer Dr. Tryggvi Thorgeirsson, Sidekick develops therapeutics developed and delivered with digital technology, addressing the same endpoints as traditional treatments – such as small molecule drugs and biologics, but with the added benefit of giving people the opportunity to be actively involved in their own treatment. The company operates its platform in partnership with healthcare companies, including US-based health company Anthem Inc. to offer a digital-first care programs, as well as global pharmaceutical majors such as Pfizer and Bayer, to develop integrated combination therapeutics consisting of a molecular drug and a digital therapeutic.
In 2019, Sidekick entered into a strategic partnership with Bayer to provide a digital therapeutic to patients with Peripheral Artery Disease (PAD). In 2020, Sidekick then secured a deal with Pfizer addressing five inflammatory diseases across Europe and beyond. Following this, the company assisted the Government of Iceland by providing the remote triaging, remote monitoring and management of people infected with COVID-19. Over the past year Sidekick has further increased its commercial footprint in the US, including a collaboration with Anthem to support members dealing with Crohn’s disease, COVID-19 and other chronic conditions.