Inhaler monitoring company Propeller Health has announced that its latest funding round included $10 million from device company Aptar Pharma, with an additional $10 million total from existing investors Safeguard Scientifics, Social Capital, Hikma, 3M Ventures and SR One.
In 2016, Propeller and Aptar announced that they would co-develop a connected MDI. The companies will now form “a strategic partnership to work with leading pharmaceutical brands to co-develop and co-market digital medicines across therapeutic areas, leveraging Aptar Pharma’s expertise in device development, packaging innovation and quality manufacturing.”
Propeller Health co-founder and CEO David Van Sickle commented, “Since starting Propeller in 2010, we’ve built the most advanced digital medicine platform and therapeutic patient experiences to improve chronic respiratory disease. Today marks a major step forward for our company. With our industry-leading platform and in partnership with our growing Propeller Provider Network, we now have the foundation in place to bring the benefits of digital medicines to many new conditions.”
Van Sickle also said, “Propeller draws on nearly a decade of experience pioneering digital respiratory medicines and putting them to work in healthcare organizations around the world. We’re excited to expand our relationship with Aptar and apply our expertise to new diseases. Our end-to-end infrastructure enables fast, flexible and secure development and commercialization of digital medicines.”
Aptar Pharma President Salim Haffar said, “Aptar Pharma is delighted to support Propeller Health in our common vision of using connected devices to enable improved patient management. We believe this approach will provide significant value to patients, healthcare providers, payers and our pharma company partners.”
In a separate announcement, Haffar said, “Aptar Pharma has been providing innovative drug delivery systems for nearly 50 years, helping billions of patients around the world. Today, we are excited to broaden our offerings as we continue this journey towards improved patient care and clinical outcomes by growing our partnership with Propeller Health, the leader in their field of digital therapeutics.”
Read the Propeller Health press release on funding.
Read the Propeller Health press release on the strategic partnership
Read the Aptar Pharma press release.
