Sonara Health, a Dallas, TX-based provider of a remote medication monitoring system, raised $3M in Seed funding.
The round was led by First Trust Capital Partners and Blue Cross Blue Shield of Kansas.
The company intends to use the funds to further developing its platform and partnering with more opioid treatment programs.
Led by CEO Michael Giles, M.D., Sonara provides a patented medication monitoring system that allows people to safely consume methadone from home, eliminating daily clinic visits. The remote medication monitoring system includes a tamper-evident label, a patient-facing web application to guide the patient’s daily consumption of methadone at home and a clinician-facing web application to remotely, asynchronously, observe patients dosing.
Sonara conducted preliminary market research with OHSU and Stanford earlier this year, and found that use of ira system was associated with improved quality of life, and early signs pointed to better treatment retention. The company received a US patent for its novel technology in September 2022.
One of the first backers of Sonara Health was Mark Cuban.
FinSME
04/10/2022