One Drop Secures $98.7M in Financing and Payments from Bayer to Expand Digital Health Platform

One Drop, a leader in providing digital solutions for patients with diabetes and other chronic diseases, announced that the company has reached a new agreement with Bayer to jointly develop digital health products for multiple therapeutic areas, based on One Drop’s platform for prediction, prevention, and personalized self-care. The company has completed a $34.7 million financing round led by Bayer.USDIn addition to the Series C financing round, it will also receive $64 million in development costs and potential commercial milestone payments.

This new agreement underscores Bayer’s commitment to partnering with One Drop and supporting its vision for the future of chronic disease management: data-driven, efficient, and personalized self-care. One Drop’s successful solutions are data-driven; its app has been downloaded more than 3 million times, and the company has collected over 13 billion distinct health data points from users who have downloaded the app. This data-driven platform delivers a user-centric experience, providing timely interventions to enable predictive health outcomes.

One Drop currently supports patients in managing diabetes, prediabetes, hypertension, and high cholesterol. The $64 million in development funding and potential commercial milestone payments provided by Bayer will help expand One Drop’s industry-leading solutions into Bayer’s key therapeutic areas, such as cardiology, oncology, andWomen's HealthThe modular structure of the One Drop solution will help the company expand into new therapeutic areas. One Drop’s self-care experience will support all conditions that individuals may need to manage, rather than focusing on a single disease, thereby providing a comprehensive approach to drive sustainable outcomes.

(PR Newswire, New York, August 24, 2020)