Evidation Health eyes virtual care with $45M Series D, Genome Medical pursues 'telegenomics' with $14M and more digital health fundraising news

Also: NexHealth's $15 million Series A, Avive Solutions' $7 million raise and Cyclica's $16.9 million Series B.
By Dave Muoio
02:57 pm

Health data analytics company Evidation Health secured a $45 million Series D raise led by B Capital Group. New backers McKesson Ventures and Section 32 joined the round, as did prior backers Revelation Partners, Rethink Impact and SV Health Investors.

The San Mateo company combines real-life patient data collected through more than 100 different sources, such as Apple Health, Fitbit, Epic and Dexcom, to name a few, in order to assess care or specific interventions for payer, pharma, systems and device-maker customers.

The company will use its new funds to continue growing its study solutions business, as well as to kick off new programs for those participating in its app-based data collection efforts. These will take the form of digital interventions, treatments and education tools, the company said, with the first scheduled to be released later this year.

“Participation in research is an activator for individuals to better understand their health and seek care proactively,” Evidation CEO Deborah Kilpatrick said in a statement. “The natural next step for Evidation is to decrease the latency between evidence and action by offering virtual health programs, while still keeping privacy and consent at the forefront."

The company also announced that Sam Marwaha, a senior partner at Boston Consulting Group and Evidation advisor, has been appointed as chief commercial officer.

Genome Medical has raised $14 million in Series B extension financing. Samsung Catalyst Fund headed the investments, which also saw participation from existing investors, the company's founders and other growth partners.

Founded in 2016, Genome Medical offers patient-facing virtual visits and provider-facing consultations with genetic experts through its "telegenomics" platform. The raise will help the startup accelerate development of the platform, first by expanding the patient-engagement and care-navigation platform for cancer, reproductive health and pharmacogenomics use cases.

"The global COVID-19 pandemic and its health care impact are creating an unprecedented need for telehealth solutions," Lisa Alderson, CEO and cofounder of Genome Medical, said in a statement. "As a nationwide telehealth medical practice, Genome Medical is able to meet this need by expanding access to standard-of-care genetics and genomics through virtual health services – reaching people everywhere in a timely and safe manner."

NexHealth, maker of an interoperable online healthcare appointment system, has raised $15 million in a Series A funding round led by Josh Buckley, founder of Mino Games, Forbes reports. Others backers included Scott Belskey, founder of Behance; Naval Ravikant, cofounder of AngelList; and Rahul Vohra, founder of Superhuman.

In addition to appointment scheduling, the NextHealth has expanded since launch to include two-way patient messaging, video telehealth, online reviews, payment processing and other features. The startup told Forbes that it is aiming to grow its API offering with the new funds.

Avive Solutions has brought in $7 million from Laerdal Million Lives Fund, as well as Kenko Venture Partners, Irish Angels and other individual investors with healthcare experience. Founded in 2017, the company develops technologies that integrate with emergency response systems to quickly help those experiencing out-of-hospital sudden cardiac arrest. It is still awaiting FDA review, but said that the new funds will help prepare for its commercial launch.

"By bringing data-driven connectivity in the form of an integrated software and device platform, we believe Avive can play a meaningful role across the chain of survival for cardiac arrest," Jeff Trost, managing partner of Laerdal Million Lives Fund, said in a statement. 

AI drug-discovery company Cyclica closed $16.9 million ($23 million CAD) in a Series B round announced last week. Drive Capital led the raise, which also included Chiesi Farmaceutici, GreenSky Capital and members of Cyclica's management team.

The company said that these new funds would support Cyclica's integrated proteome-wide drug-discovery platform, support expansion into adjacent sectors such as agrochemicals and broadly accelerate its commercial strategy.


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