- Lightspeed Venture Partners, the VC behind Nest and GrubHub, is leading a $10 million round for Freespira, an FDA-cleared digital therapeutic proven to significantly reduce or eliminate panic attacks and PTSD symptoms by training users to normalize respiratory irregularities.
- In 28 days, Freespira can reduce or eliminate panic attacks and PTSD symptoms from home with just a tablet, sensor, and custom app. There’s no medicine with possible side effects and no need to see a doctor or therapist in person.
Freespira, Inc.(formerly Palo Alto Health Sciences, Inc.), a Kirkland, WA-based maker of the first FDA-cleared digital therapeutic that significantly reduces or eliminates symptoms of panic attacks, panic disorder and post-traumatic stress disorder (PTSD) in only 28 days, announced it has completed a $10 million capital raise led by Lightspeed Venture Partners. Joining the financing round, the largest in the company’s history, were previous investors Aphelion Capital, Medvest Capital, and Freespira Chairman, Russell Siegelman.
Free from Panic Attacks & PTSD in 28 Days
Founded in 2013, Freespira® is the only FDA-cleared digital therapeutic proven to significantly reduce or eliminate Panic Disorder and PTSD symptoms by training users to normalize respiratory irregularities in just 28 days. This 4-week medication-free program can be done from the comfort of your home for 17 minutes, twice daily. Treatment is authorized and completed under the supervision of a licensed healthcare provider and is clinically proven to reduce or eliminate panic attacks and other symptoms of panic disorder. Freespira uses a custom sensor to train patients to stabilize their respiration rate and exhaled carbon dioxide levels, thereby reducing or eliminating panic attacks and PTSD symptoms.
Recent Peer-Reviewed Studies
Numerous peer-reviewed studies have demonstrated the clinical effectiveness and cost savings of the Freespira solution, including:
– A clinical trial conducted at the VA Palo Alto Health Care System in Palo Alto, Calif. demonstrated the efficacy of Freespira for veterans and non-veterans suffering from PTSD. Significant reductions in measures of PTSD severity were achieved by 85% of subjects post-treatment, with half of subjects reporting remission scores six months post-treatment. Patient satisfaction was 84% at six months post-treatment, and mean patient adherence to the treatment protocol was 77%.
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– A large multi-center trial conducted by David Tolin, PhD, Director of the Anxiety Disorders Center at The Institute of Living, and Adjunct Professor of Psychiatry at Yale University School of Medicine, found that Freespira produced a clinically significant reduction in panic symptoms 12 months post-treatment in 82% of subjects, with 84% adherence and 88% patient satisfaction.
– A study led by Alicia Kaplan, MD at the Allegheny Health Network in Pittsburgh found that use of Freespira not only resulted in 91% of patients reporting significant reduction in symptoms at 12-months but also significant cost savings for the patients’ insurance provider, Highmark Blue Cross Blue Shield. These included a 65% reduction in emergency department costs; a 68% reduction in pharmacy costs; and a 35% reduction in total medical costs for treatment of the study subjects.
“We’re honored that Lightspeed, one of Silicon Valley’s premier venture firms, has joined our existing investors to help speed the commercialization of Freespira to benefit the millions of people who suffer from panic attacks and PTSD, including veterans, first responders, and increasingly, frontline healthcare workers,” said Dean Sawyer, Chief Executive Officer of Freespira. “Now that we have accumulated overwhelming evidence of the clinical and cost effectiveness of Freespira and achieved FDA clearance for its use treating both panic disorder and PTSD, we believe health plans and employers across the country will support the use of Freespira for their members and employees.”
Source: Hit Consultant
