German health data startup Temedica raised another €25 million in Series B funding led by existing investor MIG Capital and an undisclosed Munich-based family office.
The latest influx of capital brings its total Series B raise to €42 million. The company had previously announced it had scooped up €17 million in January 2020.
WHAT THEY DO
The Munich-based company offers the Permea real-world data platform and builds digital companion apps, which allow patients to track symptoms and medication use.
Temedica’s ecosystem combines insurance data, sales data from medical products, patient experience information and patient-reported data from their companion apps. The company pitches the data platform as a way to gain insight into disease progression, treatment effectiveness and medication adherence for healthcare providers, researchers, and pharma and biotech companies.
“Temedica’s vision is to make a pioneering contribution to the development of personalized medicine by linking health-relevant data to new, evidence-based insights. We are convinced that big data sets and completely new types of data play a key role in this, such as patient-generated data from large populations outside of classic clinical trials,” Gloria Seibert, Temedica founder and CEO, said in a statement.
“These enable a completely new knowledge and understanding of diseases and their actual courses. I am very pleased that our investors share this vision and accompany and support us as we continue to expand the Temedica ecosystem.”
MARKET SNAPSHOT
Founded in 2016, Temedica has previously created apps like Waya, geared toward weight loss, and Pelvina, which aimed to help women train their pelvic floors.
Last year, the company partnered with Roche to launch Brisa, a digital management app for multiple sclerosis patients. It’s also working with Bristol Myers Squibb to develop an app for patients with psoriasis.
In January, Temedica launched its Permea data platform. The company later announced it had entered into a data collaboration with NOVENTI Health SE, a German provider of enterprise resource planning (ERP) systems and claims-management tools for pharmacies.
A number of companies aim to use real-world data, including patient-collected data from wearables and apps, to generate health insights or evidence to support treatments. San Mateo, Calif.-based Evidation Health raised $153 million in Series E funding in 2021, while Aetion most recently scooped up $110 million in a Series C round.
