Stockholm-based Pilloxa, a startup improving medical adherence in clinical studies, has raised a $1.3 million round led by Bonnier Ventures. The medtech company, first founded in 2015, plans to expand across Europe.
Through a combination of smart hardware, phone apps, data visualisation and analytics, the Pilloxa platform helps people take medicine and follow treatment guidelines properly. Improving patient adherence is especially important in clinical trials, where measuring a medication’s efficacy is entirely dependent on user behavior.
The Swedish company’s product has shown patient adherence at over 90 percent in studies, compared to market averages of 60-65 percent. In fact, big pharmaceutical brands like Bayer and Sandoz/Novartis are already piloting Pilloxa in their own clinical trials and patient support programs.
With the platform’s real-time data, timely interventions, and engaged patients, clinical trials wrap up faster, bringing new therapies to market sooner and saving research resources.
Dajana Mirborn of Bonnier Ventures said, “Digital health is one of the key focus areas for Bonnier Ventures. The clinical trial market is of substantial size with great digitalisation potential. Pilloxa, with its data driven solution, tackles one of the industry’s major problems. We look forward to supporting the team as they expand their customer base.”
Commenting on the fresh funding, Pilloxa CEO Francesco Mazzotta said: “Pilloxa is ready to expand outside Scandinavia with this strengthened investor base. Bonnier Ventures is a great fit for us, we both share a deep commitment to making long-lasting impact and have a time perspective spanning generations. Pilloxa is now ready to help thousands of patients by delivering a solution creating conditions for the best possible treatments to patients as fast as possible.”