14 April 2020 | News
The funds will be deployed to enhance its product suite, build further real world evidence, expand to newer therapy areas, and grow its international business
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Mumbai based Wellthy Therapeutics, one of Asia’s leading digital therapeutics (DTx) companies, has raised $4 million (~Rs 30 crores) from Saama Capital, as part of its Pre Series A round for a ~16% stake in the company.
Wellthy Therapeutics works with leading insurance, pharmaceutical, medical device companies and large hospital systems to deliver clinically-validated digital therapies that improve the health outcomes and quality of life of those with a chronic condition. Apart from utilizing this raise to deepen its product-suite and expand geographically, the company will accelerate the launch of its respiratory digital therapeutic portfolio (amongst other new indications), which is especially relevant in the current situation.
“The success of our initial commercial launch in FY2019-20 with our pharmaceutical, insurance, medical device, and healthcare systems partners has shown us the scope of what is possible in augmenting patient outcomes. The success stories of our patients, their unique patient journeys and the data collected inspires us to invest deeper into clinical validation, product and distribution. We are excited to kickstart FY2020-21 with an incredible new shareholder on our cap table. The funding will allow us to invest further into improving patient outcomes and generate further real world evidence, while expanding our therapeutic portfolio, geographic and stakeholder reach.” says Abhishek Shah, CEO and Co-founder of Wellthy Therapeutics.
“Wellthy Therapeutics is bringing technology enabled, affordable digital therapeutics to make patient outcomes more accessible”, added Suresh Shanmugham, Managing Partner at Saama Capital. “The company uniquely combines real world evidence with clinically validated care pathways, to deliver its digital therapeutics across multiple therapeutic areas, via leading enterprise partners in healthcare, to patients in multiple countries. Wellthy Therapeutics has a unique opportunity to redefine chronic disease management, and we are excited to back their vision.”
As part of the deal, Suresh will be joining Wellthy Therapeutics’ Board.