Biofourmis Raises $35M
Digital healthtech startup Biofourmis has raised $35m in a Series B round from Sequoia India, MassMutual Ventures, Openspace Ventures, Aviva Ventures, SGInnovate, EDBI, and Jinke. The company also announced it will be expanding its Boston office and moving its headquarters from Singapore to Boston.
Established in Singapore in 2015, Biofourmis combines AI, evidence-based therapeutic interventions, a patient-facing app, and FDA-approved wearable biosensors to optimize patient care and health outcomes. The components work synergistically to drive patient adherence to medication regimens. By remotely monitoring and analyzing physiological signals, the AI-powered digital therapeutics technology can predict and prevent adverse events.
The platform is used in tandem with Biofourmis’ lead product, BiovitalsHF, which is the first prescription software that utilizes wearable biosensors and pharmacotherapy to manage and support patients diagnosed with heart failure. Once activated, a treatment algorithm dynamically prescribes optimal guideline-directed therapies while driving adherence to the care plan through an interactive smartphone app.
“Our core focus has always been to optimize therapies to augment patient care and health outcomes. The past year was filled with exciting achievements as our team made great strides in advancing our products, in addition to strengthening our regulatory platform and signing contracts with numerous global pharmaceutical firms. Our new funds will allow us to rapidly expand our workforce and commercialization efforts, while further demonstrating the clinical efficacy of our digital therapeutics platform through research and development.” – Biofourmis’ founder and CEO Singh Rajput.
“Digital therapeutics are redefining the healthcare value chain by using technology to target specific diseases and generating clinically proven outcomes – and Biofourmis is on a path to become a leader in this space. We look forward to supporting Biofourmis in their mission to improve patient outcomes through the efficient and effective delivery of treatments.” – Anvesh Ramineni, managing director of MassMutual Ventures SEA.
