UK-based health technology developer Medopad has gained $25m in a series B round led by pharmaceutical and chemicals group Bayer, TechCrunch reported yesterday.
Infrastructure and services conglomerate NWS Holdings and venture capital firm Healthbox filled out the round, which reportedly valued Medopad at $200m to $300m post-money.
Medopad operates a platform for patients to capture healthcare data through devices such as smartphones and watches, sharing the information with physicians in real time.
The company is working on artificial intelligence-based methods for creating and tracking digital biomarkers that are not picked up through blood tests or examinations by medical staff. It is exploring applications in Parkinson’s, Alzheimer’s and diabetes.
The series B round will allow Medopad to further extend the range of its applications. Bayer will work with Medopad on digital biomarkers and therapeutics for cardiovascular health.
NSW Holdings previously led a $28m series A round in February 2018, with participation from unnamed family offices and institutional investors.
Both Bayer and Healthbox were identified as returning investors for the series B round by TechCrunch, but details about their earlier commitments have not been revealed.
