US-based digital therapeutics company Propeller Health added an undisclosed amount of funding to its series D round on Monday with a commitment from McKesson Ventures, the corporate venturing arm of healthcare company McKesson.
Propeller raised an initial $20m from investors led by drug delivery company Aptar Pharma, with participation from Hikma Ventures, SR One and 3M Ventures, respective investment units of pharmaceutical firms Hikma and GlaxoSmithKline and manufacturing company 3M.
Safeguard Scientifics and Social Capital also contributed capital to the first close.
Founded in 2010, Propeller Health is developing a digital therapy platform for patients suffering from chronic respiratory diseases such as asthma and chronic obstructive pulmonary disease. It relies on machine learning to recommend a personalised treatment.
The money will go towards the development of additional connected devices and support the existing pipeline of digital therapeutics. The company will also seek to expand into new therapeutics areas, such as immunology, diabetes and migraines.
Propeller has disclosed more than $60m in funding to date, previously closing a $21.5m series C round in 2016 that featured 3M Ventures, SR One, Hikma Ventures, Safeguard Scientifics and Social Capital.
Propeller also secured a strategic investment of undisclosed size from Well Ventures, the investment arm of pharmacy retailer Walgreens, in 2014.
Carrie Hurwitz Williams, principal of McKesson Ventures, said: “Propeller’s strong base of clinical evidence demonstrates meaningful benefits to patients and all key stakeholders involved in delivering patient care.
“We are excited for their continued success as part of the digital supply chain, an emerging category that will be integral to the future of medicine.
“McKesson Ventures is uniquely positioned to help accelerate growth in the digital supply chain as our healthcare system becomes increasingly connected via secure data exchange and the use of digital therapies continues to rise.”