The next generation of therapeutics designed to prevent, treat and help people manage a wide range of medical disorders, digital therapeutics is the way forward.
Betting big on the segment, Icelandic digital therapeutics platform Sidekick Health has raised $55 million in Series B funding.
The round was led by London-based venture capital firm Novator Ventures, with participation from Wellington Partners, Asabys Partners, and Frumtak Ventures, and another US-based strategic investor. The new round follows an oversubscribed $20 million A round in 2020.
The new cash will help the startup to diversify its portfolio further by expanding its chronic disease treatments across even more therapeutic areas.
The platform will also enhance existing partnerships and forge new alliances with key stakeholders across the healthcare ecosystem. Currently, Sidekick works along with US medical companies such as Anthem, Pfizer and Bayer to offer digital-first care programmes and develop integrated combination therapeutics consisting of a molecular drug and a digital therapeutic.
Founded by two passionate doctors, Sidekick aims to bring healthcare into people’s everyday lives, empowering them to take control of their own health. It is developing and delivering personalised digital therapeutics to prevent suffering and add millions of quality life years to people around the world.
Sidekick’s CEO and co-founder Dr. Tryggvi Thorgeirsson said: “The major challenge facing the world’s healthcare systems is how to support and treat people who are dealing with with two or more chronic conditions. The cornerstone of our approach is the multi-chronic digital therapeutics platform. By harnessing the power of technology, we deliver personalised treatments via smartphones and other mobile devices, empowering people to take control of their own health.”
After the new round, Novator Ventures general partner and founder Birgir Mar Ragnarsson has joined Sidekick’s board of directors. He added: “The company may have begun in the Nordics, but I am proud to say that Sidekick is now a globally-recognised digital therapeutics player.”