RxRevu, the US-based developer of a prescription drug discovery platform, has collected $15.9m in a series A round led by healthcare system UCHealth.
Inception Health, an innovation hub formed by hospital operator Froedtert and the Medical College of Wisconsin, also took part in the round, as did care providers Presbyterian Healthcare Services, Children’s Hospital Colorado and UnityPoint Health.
University of Virginia’s LVG Venture Fund and investment firm Jazz Venture Partners filled out the round, which followed $3.8m of convertible note financing that closed in 2016 and $4.7m of equity funding in early 2017, according to securities filings.
Founded in 2013, RxRevu has built a platform that helps clinicians and healthcare providers find cheaper alternatives to prescription medicines. Its SwiftRx platform, which was developed in partnershp with UCHealth, analyses a patient’s medical history and individual insurance coverage to help find medications specific to their health.
Richard Zane, UCHealth’s chief innovation officer, said: “UCHealth and our Care Innovation Center have been working closely with RxRevu for more than two years in a co-development partnership. We share their vision to improve prescribing to help reduce medication costs and ensure our patients fill prescriptions with as little friction as possible.
“SwiftRx holds the promise to improve both our clinician and patient satisfaction. Finally, we will have an enterprise approach to better measure and manage our prescribing.”