30 May With $20 Million In Funding, Propeller Health Partners With Aptar Pharma To Make Digital Medicines
In a move that signals the pharmaceutical industry’s growing interest in digital therapeutics, Aptar Pharma has partnered with Propeller Health, a pioneer in this burgeoning field. The company, a division of Aptar Group, is one the biggest makers of drug delivery devices. Last year, it generated $800 million in revenue, selling inhalers, injectors and other dispensers to drug companies. Aptar and Propeller will connect those devices via sensors to Propeller’s software to manage respiratory diseases, opioid addiction and pain, among other areas. “[It’s] a great opportunity to industrialize connectivity,” says David Van Sickle, co-founder and CEO of Propeller.
Aptar is investing $10 million as part of a $20 million funding round, which includes returning investors Social Capital, Hikma Ventures (the venture arm of Jordan’s Hikma Pharmaceuticals) and SR One (the VC arm of GlaxoSmithKline). This brings the total amount Propeller has raised to $65.5 million.
The partnership represents a milestone for the Madison, Wisc.-based company, which focused until now on asthma and other chronic respiratory diseases.
Sorry, the comment form is closed at this time.