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Huma Therapeutics Ltd today announced the completion of its Series C funding round with financing of around $130 million.
Leaps by Bayer and Hitachi Ventures led the round, which also saw new strategic and financial investors become shareholders.
Samsung Next, Sony Innovation Fund by IGV, Unilever Ventures and HAT Technology & Innovation Fund by HAT, as well as individuals Nikesh Arora (former president of SoftBank) and Michael Diekmann (Chairman of Allianz) are also new shareholders.
A further commitment of $70 million, that can be exercised later, has also been agreed as part of the round, taking the total financing raised to more than $200 million.
WHAT IT DOES
Huma’s modular remote monitoring platform aims to power digital ‘hospitals at home’ nationally and support the pharmaceutical and research industries to run the largest ever decentralised clinical trials.
The platform combines predictive algorithms, digital biomarkers and real-world data to advance proactive care and research.
WHAT IT’S FOR
The investment will be used to expand Huma’s digital platform in the US, Asia and the Middle East.
Last year Huma underwent a rebranding and acquired AI and wearable tech companies, Biobeat and Tarilian Laser Technologies, reinforcing its mission to play a pioneering role in discovering digital biomarkers.
Meanwhile in the remote monitoring space, Israeli telehealth platform and remote care device maker TytoCare recently added another $50 million to its Series D funding round, bringing the oversubscribed round to a total of $100 million.
In March, Israeli remote care automation company, Datos Health announced a collaboration with AI-based clinical insights provider, Medial EarlySign to offer an integrated platform to identify high-risk patients.
Health tech giant Royal Philips also launched the Philips Medical Tablet, which is designed to help clinicians remotely monitor larger patient populations during emergency healthcare situations.
ON THE RECORD
Dan Vahdat, Huma founder and CEO, said, “We’re already demonstrating how ‘hospital at home’ can transform healthcare, and how decentralised clinical trials can advance research in ways that weren’t imaginable even one year ago. Now we want to accelerate the pace of change and continue to innovate for better care and research worldwide.’’
Alan Milburn, former UK health secretary and chairman of Huma’s board, said, “Together with our partners we can use our expertise, technology, and innovation to change the face of healthcare and research and impact people’s health everywhere.”
Dr Claudia Suessmuth Dyckerhoff, Huma board director, said: “The pandemic has exposed weaknesses across health systems around the world but through collaboration, innovation, and compassionate leadership Huma can support faster and safer care for patients through digital technologies and rapid access to treatments by accelerating clinical research.”
Juergen Eckhardt, head of Leaps by Bayer, said: “As an early investor into Huma we know how perfectly the company fits into that frame as one of the leading digital innovators in healthcare and lifesciences.”