FUTURE OF HEALTHCARE
Prenosis | March 10, 2022
Prenosis, Inc., a precision medicine company,announced a venture investment from PACE Healthcare Capital, an early-stage investment firm committed to improving health outcomes. This investment brings total funding in the company to over$20 million, including partnerships with Foxconn, Roche Diagnostics, the Defense Threat Reduction Agency, and others.
Prenosisis leveraging machine learning algorithms trained on deep biological data and broad clinical data to create precise and comprehensive maps of acute disease. Using these maps, Prenosis develops and markets valuable navigational tools to improve patient care by illuminating the optimal treatment pathways for each patient.
"This capital will further accelerate our deep biological mapping of acute disease and to further grow the NOSIS™dataset/biobank, which is the largest such dataset/biobank ever created for sepsis," saidBobby Reddy, Jr., CEO and Co-Founder, Prenosis Inc. "Using our mapping technology, we are developing sophisticated methods to define, divide, and conquer diseases. The navigational guidance solutions based on our health state maps will address the critical challenge of sepsis by providing critical and actionable information tailored to each patient's health state."
Prenosis is pioneering a revolution in managing acute diseases that have previously eluded conventional methods, starting with sepsis. Sepsis occurs when the immune system reacts abnormally to an infection, setting off a chain of events that leads to tissue damage and organ failure. Sepsis is currently one of the leading causes of mortality in U.S. hospitals, and the WHO estimates that it causes 1 in 5 deaths worldwide1.
Prenosis has spent nearly a decade building fit-for-purpose biological and clinical datasets at an unprecedented level to better understand sepsis and other acute care conditions.
Using this information, Prenosis has developed patient maps and valuable navigational tools to empower physicians to administer optimal treatment to patients faster. Prenosis' first such tool, the Sepsis ImmunoScoreTM, is a Software-as-a-Medical Device (SaMD) digital diagnostic designed to aid in the risk assessment for progression to sepsis of patients admitted in the emergency department or hospital. Prenosis is currently seeking to obtain FDA clearance for the tool by the end of 2022. The test runs on Prenosis's Immunix™software platform, which interfaces with hospital Electronic Medical Records that hosts multiple products to improve patient care.
"Personalized medicine is the next frontier of healthcare. Complex acute diseases, such as sepsis, can only be conquered through a robust understanding of the biological response of each patient's immune system – one patient at a time. Prenosis brings our understanding of the disease patterns to a whole new level and enables physicians to make better decisions faster for their patients. We are excited to partner with Bobby and the whole Prenosis team as they continue to develop their technology and transform the way we understand and provide care for patients with complex acute diseases."
Julia Monfrini Peev, Founder and Managing Partner of PACE Healthcare Capital
The funding builds on a recent string of strategic partnerships and accolades for Prenosis, including being selected as part of the MedTech Innovator 2021 Showcase, being named the #2 Medtech Startup of 2021 by MDDI, and being asked to present its research at scientific meetings, including the forthcoming 2022 annual meetings for the Society of Critical Care Medicine and the American Thoracic Society.
"In addition to support from other investors and partners, PACE Healthcare Capital's involvement is a strong endorsement of our solutions and will help to accelerate our growth as we further expand our proprietary dataset and work towards commercialization of the Immunix™platform later this year," said Reddy. "As we use our technology to map acute disease, we hope to usher in a new age of data-driven treatment and medical discovery."
Prenosis is a health tech innovator devoted to ushering in a new era of precision diagnostics in acute care using artificial intelligence. Its Immunix™precision diagnostics platform leverages machine learning algorithms trained on deep biological data and broad clinical data designed to capture and illuminate the complex health states of patients more holistically. Its proprietary NOSISTMdataset is one of the largest and fastest-growing hybrid biomarker-clinical datasets for sepsis care. The Sepsis ImmunoScore™diagnostic on the Immunix™platform has the potential to save thousands of lives and billions of dollars in healthcare spending annually. The Sepsis ImmunoScore™is not yet approved for commercial use in the United States.
About PACE Healthcare Capital
PACE Healthcare Capitalis an early-stage venture capital firm focused on investing in companies that have developed high-impact solutions to critical healthcare challenges. With decades of combined experience and $1B+ of capital raised and deployed in healthcare, PACE applies institutional-grade investment processes to identify the best entrepreneurs and deploy financial and human capital to help them grow their business.
FUTURE OF HEALTHCARE
House Rx | March 15, 2022
House Rx, a health technology platform focused on improving affordability and patient access to specialty medications, announced it has secured $25 million in Series A financing led by Bessemer Venture Partners, bringing total funding to $30 million.
House Rx's technology platform and pharmacy service enable specialty practices to offer medically-integrated dispensing, which means patients can receive both their physician and pharmacy care from one team, collaborating on a unified technology platform. Since it launched in March 2021, House Rx has partnered with four medical specialty practices and 30 prescribers in California and Washington.
"We have a simple idea: partner with specialty clinics all over the country to enable medically integrated dispensing where the physician, pharmacist, nurses and techs can work together as one team, under one proverbial roof, to improve patient care. Our vision for the future of specialty pharmacy is a more local, more collaborative, and ultimately a more affordable system that leads to much better outcomes for patients."
Ogi Kavazovic, CEO and a co-founder
Specialty medications, which include treatments for cancers, rheumatic diseases and other chronic and acute conditions, are some of the most expensive drugs available. Unlike infused therapies which are administered in the clinics, the burden of specialty medication access and adherence often falls on patients, who typically need to battle several large bureaucracies to gain access to their medications. These often lead to multi-week delays in treatment and much lower adherence rates compared to medications administered in clinics.
Currently, specialty medications are mainly dispensed via mail by a patient's insurance company, not their doctor or a pharmacy a patient chooses. A growing body of research demonstrates that when patients obtain timely access to cancer treatments directly from their care team, they have better outcomes, including improved quality of life and increased survivability.
House Rx currently has over 30 employees, who are mostly software engineers and pharmacy operations. In addition to Bessemer Venture Partners, First Round Capital, Character.vc, and 1984.vc participated in the Series A funding. First Round Capital led the seed round as the initial investor alongside Khosla Ventures, Maverick Ventures, and 1984.vc. The funding from this latest round will go towards continued investments in House Rx's technology platform and scaling pharmacy operations.
"The specialty pharmacy market is in much need of a new approach - the current system severely lacks in patient choice and innovation, and we think House Rx's vision for a more modern, more decentralized approach will have incredible impact," said Steve Kraus, Partner, Bessemer Venture Partners. "Bessemer is proud to back a company with a mission to ultimately make it easier and more cost effective for patients to get the treatment they need."
In addition to Kavazovic, the health technology start-up was co-founded by Tesh Khullar, who serves as the company's President. Kavazovic and Khullar are former Flatiron Health executives, where they gained experience working closely with hundreds of oncology clinics. The company's Chief Pharmacy & Operating Officer is Denali Cahoon, PharmD, who is a former executive at Trellis Rx.
"The antiquated pharmacy systems developed decades ago inhibit coordinated patient care and increase costs. The current system also prevents patients from choosing where they can get their medically prescribed life-sustaining therapies," said Tesh Khullar, President and a co-founder. "We started House Rx to make the medically integrated dispensing model the new normal in specialty pharmacy. With the right technology, and the right distribution partners, we can re-establish the partnership between physicians and pharmacists that brings a new level of transparency and patient care."
House Rx's technology platform helps prescribers and pharmacists collaborate more effectively via one integrated system. Built based on in-depth feedback from pharmacists and physicians, the platform is designed specifically for the management of specialty medication, and includes built-in analytics to enable continuous improvement in operational efficiency and quality of care.
The specialty medical practices that have already partnered with House Rx include Care Oncology Center, California; Sarcoma Oncology, California; Arthritis Northwest Washington; and Northwest Medical Specialties, Washington.
About House Rx
House Rx is a technology-enabled service company focused on making specialty medication more accessible and affordable. We do so by helping clinics dispense specialty medications to their patients in a medically-integrated way using pharmacist expertise and modern technology. By helping physicians and pharmacists collaborate on patient care, we're able to improve patient outcomes, lower the cost of care, and create a better experience for patients and their caregivers.
FUTURE OF HEALTHCARE
Gozio Health | March 31, 2022
Gozio Health, an industry-leading location-aware mobile patient engagement platform, announced the closing of an investment from funds managed by Morgan Stanley Expansion Capital. The investment round will be used to accelerate Gozio's growth and sets the stage for a long-term financial partnership.
“We are at a turning point in healthcare where digital strategy is not only a competitive differentiator for health systems but is foundational to positive consumer experiences. An effective digital platform can enhance engagement with patients, prevent revenue leakage and increase overall patient satisfaction. With the strong support of Morgan Stanley, Gozio is poised to substantially ramp up efforts to equip health systems with the kind of robust, extensible platform needed to optimize digital engagement.”
Joshua Titus, Founder and CEO of Gozio
Gozio’s mobile patient engagement solution provides health systems with a turnkey digital front door, offering a unified platform which integrates HCIT applications, including physician directories, appointment scheduling, EHR and patient record access, into an easy-to-use mobile application. Gozio’s solution also leverages the Company’s patented, industry-leading wayfinding technology to provide real-time, turn-by-turn directions to patients and staff.
“The consumerization of healthcare is driving hospitals and health systems to increasingly focus on patient experience and engagement. Gozio offers a solution that helps patients not only navigate the physical network of the health system, but also provides patients mobile access to the services, information and applications necessary to engage patients in their own care,” said Melissa Daniels, Managing Director at Morgan Stanley Expansion Capital. “We believe Gozio’s digital front door and wayfinding technology provide a compelling value proposition by enhancing the personal end-to-end consumer experience within the network of the health system. We are thrilled to be partnering with Joshua and the Gozio team to support the Company as it continues on its growth trajectory.”
Gozio will use the funding to expand its client base among leading health systems, grow its client services and engineering teams, and advance the extensibility of its platform to support a digital health ecosystem.
About Gozio Health
Gozio Health offers an end-to-end, customizable digital health platform exclusively for healthcare systems. Gozio’s extensible mobile platform enables seamless consumer interactions and provides an anytime, anywhere connection to patients that improves their overall experience and access to care. Popular patient engagement features include patented indoor wayfinding with turn-by-turn navigation, virtual visits, physician directories, appointment scheduling, access to electronic health records, Urgent Care and Emergency Department wait-times, and extensive analytics capabilities. Gozio customers surveyed in a 2021 KLAS Research Emerging Technology Spotlight report found 100% satisfaction and improved experience for patients and staff.
About Morgan Stanley Expansion Capital
Morgan Stanley Expansion Capital is the growth-focused private investment platform within Morgan Stanley Investment Management. Morgan Stanley Expansion Capital targets growth equity and credit investments within technology, healthcare, consumer, digital media and other high-growth sectors. For over three decades, Morgan Stanley Expansion Capital has successfully pursued growth investment opportunities and has completed investments in over 200 companies, leveraging the global brand and network of Morgan Stanley.
FUTURE OF HEALTHCARE
Endonovo Therapeutics, Inc. | April 26, 2022
Endonovo Therapeutics, Inc. announced an agreement with NAMSA – a leading Global Contract Research Organization and medical device reimbursement specialist – as strategic advisors to develop in-patient and out-patient medical reimbursement strategies for Endonovo’s flagship PEMF product SofPulse®.
“Engaging NAMSA as strategy advisors to develop and apply proven medical device reimbursement strategies is a huge advantage for Endonovo and our shareholders, according to Endonovo CEO Alan Collier. “NAMSA is a proven medical device development partner with relevant therapeutic know-how that is critical when seeking acceleration of reimbursement efforts and commercialization objectives,” he pointed out.
NAMSA was founded in 1967 as a scientific research company and later transitioned into a Global CRO and Medtech (Medical Technologies) reimbursement specialist. Today, it has 1,000 strategic associates who provide Medtech reimbursement advisory expertise to more than 300 clients in 15 global regions.
NAMSA offers a full continuum of reimbursement services for medical technologies. Their reimbursement consultants provide: payer relations, medical policy research, coverage advocacy, Healthcare Common Procedure Coding System Current Procedural Terminology code analysis/applications and health economic analysis.
“Our team strives to bring impactful products like the Endonovo SofPulse into higher adoption. With this technology, and its favorable economics, there are multiple opportunities ahead for serving populations in need. We will work together with the Endonovo team to improve market access for this novel device in the very near term.”,
Joseph Sierra, Director, Reimbursement Consulting, North America, NAMSA
NAMSA provides strategic guidance and tactical support to fast-track medical device commercialization and to make an immediate impact on patient healthcare worldwide. NAMSA’s services have grown to include regulatory, reimbursement and quality consulting as well as clinical research. These additions have helped NAMSA to become the pre-eminent 100% medical device-focused Global CRO that offers proven strategic solutions throughout the full development continuum. NAMSA is the only US FDA ASCA accredited medical device biocompatibility laboratory in the world. This allows medical device sponsors to fast-track commercialization efforts, while achieving time and cost efficiencies in every major market of the world.
Collier stated: “We are fortunate to be working directly with Joseph Sierra, at NAMSA. With over 10 years of reimbursement experience, and his proven track-record in developing successful medical device reimbursement strategies is exemplary and will be helpful in developing the path toward reimbursement for our main product SofPulse®. Joseph is an adjunct instructor at USC Masters of Health Administration Program, and his prior professional work includes successful stints with NeoFect USA and Medtronic Ltd. where he demonstrated a record of success leading roles in reimbursement programs, analysis, and strategies for their medical devices.”
NAMSA’s reimbursement expertise and track-record in the introduction and adoption of medical devices into multiple medical specialties includes: orthopedics, cardiovascular surgery, general surgery, plastic surgery, neurology, robotic surgery and wound care. Collaborating with NAMSA on global reimbursement allows Endonovo to explore reimbursement for the U.S. medical markets as well as the European Union market adoption through SofPulse® medical CE Mark. Additional target markets would be Taiwan and other Asian countries.
About Endonovo Therapeutics Inc.
Endonovo Therapeutics is a commercial-stage developer of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives. The Company's current portfolio of commercial and clinical-stage wearable Electroceuticals® therapeutic devices addresses wound healing, pain, post-surgical pain and edema, cardiovascular disease, chronic kidney disease, and central nervous system disorders, including traumatic brain injury, acute concussions, post-concussion syndrome and multiple sclerosis. The Company's noninvasive Electroceutical® therapeutic device, SofPulse®, which uses pulsed short-wave radiofrequency at 27.12 MHz, has been FDA-cleared and CE marked for the palliative treatment of soft tissue injuries and post-operative pain and edema. It also has CMS national coverage for the treatment of chronic wounds. The Company's current portfolio of preclinical-stage Electroceuticals® therapeutic devices addresses chronic kidney disease, liver disease, non-alcoholic steatohepatitis cardiovascular and peripheral artery disease and ischemic stroke. The Company's noninvasive, wearable Electroceuticals® therapeutic devices work by restoring key electrochemical processes that initiate anti-inflammatory and growth factor cascades necessary for healing to occur.