US-based digital healthcare company Proteus Digital Health has secured $120m in its latest funding round from undisclosed new institutional investors based in the US, Europe and Asia.
Founded in 2001, Proteus is responsible for a range of products that enhance the effectiveness of medicine by integrating it with wearable, mobile and cloud computing technology.
The company previously raised $62.5m in a series F round that closed in May 2013, and which was funded by backers including computing hardware provider Oracle, pharmaceutical companies Otsuka and Novartis, and institutional investor Sino Portfolio.
According to press releases and SEC filings, Proteus has now received more than $250m in funding and its investors also include medical device makers Medtronic and St. Jude Medical, trading conglomerate Itochu, managed care provider Kaiser Permanente’s corporate venturing unit, semiconductor producer ON, Adams Street Partners, The Carlyle Group, Essex Woodlands and Spring Ridge Ventures.
Proteus also announced that it has hired Steve Fieler, formerly the chief financial officer of computer company Hewlett Packard’s software division, as its new CFO, and appointed Jonathan Symonds, previously the chairman of HSBC Bank and the CFO of Novartis, to its board.
“Proteus Digital Health has created a remarkable leadership position in the digital health care market by enabling medicines to communicate with the internet,” said Symonds.
“This technology has the potential to enable Proteus Digital Health and its partners to reengineer the existing commercial assets of the pharmaceutical industry in order to create high value proprietary products that leverage the drugs they already sell using the mobile phone in every consumer’s pocket.”