Proteus Digital Health, the US-based digital medicine technology developer backed by a range of corporate investors, raised $50m in series H financing on Friday from undisclosed investors.
Proteus is working on a wide range of digital medicine products based on its Proteus Discover platform, and the funding will be used to increase the system’s adoption by health systems.
Products being developed through Proteus Discover include wearable sensors that track the body’s response to drugs, medicines that signal when they have been taken, data analytics technology and applications that help bolster patient behaviour and care decisions.
Andrew Thompson, president and CEO of Proteus Digital Health, said: “This financing demonstrates confidence in our Digital Medicine platform and deliberate, staged approach to market building.
“We are at the forefront of the digital transformation of healthcare, and are excited to work with our customers, partners and investors to help lead the way.”
The funding boosted the company’s overall funding to more than $350m since 2001. Proteus closed a $172m series G round in July 2014 backed by undisclosed institutional investors based in the US, Europe and Asia.
Computer technology manufacturer Oracle, pharmaceutical firms Otsuka and Novartis, and investment firm Sino Portfolio were among the investors in a $62.5m round closed by Proteus in 2013.
Other investors in the company include medical device makers Medtronic and St. Jude Medical, trading conglomerate Itochu, managed care consortium Kaiser Permanente, semiconductor manufacturer ON, Adams Street Partners, Carlyle Group, Essex Woodlands and Spring Ridge Ventures.