Medopad Secures $25 Million Series B Funding Led by Bayer to Advance Digital Biomarker Diagnostics

On November 6, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that mobile health company Medopad announced the completion of a $25 million Series B financing round. The round was led by pharmaceutical giant Bayer, with participation from NWS Holdings and Healthbox.

Following the completion of this funding round, Medopad’s market valuation will exceed $200 million. Additionally, Bayer will collaborate with Medopad to develop digital biomarker diagnostic technologies aimed at improving human cardiovascular health.

Since its inception, Medopad has completed three rounds of financing, raising a total of $54 million. Specifically, the company closed a $1 million seed round in January 2016 and a $28 million Series A round in February 2018.

Medopad, established in 2008 and headquartered in London, UK, is a global mobile health company with offices in the United States and China. The company is dedicated to developing advanced diagnostic technologies to improve the quality of life for patients with chronic, rare, and complex diseases. Medopad collaborates with world-leading medical institutions, pharmaceutical companies, and technology enterprises to build an interconnected digital health ecosystem.

Currently, Medopad is developing non-invasive disease diagnostic technologies based on digital biomarkers. This approach leverages digital methods to convert signals released by biomarkers into quantified, objective data for interpreting or predicting disease progression. For example, while traditional diagnosis of Parkinson’s disease relies on physicians’ subjective assessment of patient behavior, advances in computer vision and sensor technology now enable clinicians to analyze digital biomarkers such as gait and posture, thereby providing guidance for clinical treatment.

In 2018, Medopad entered into a strategic partnership with Tencent to develop AI-assisted diagnostic technology for Parkinson’s disease. Medopad stated that the collaboration with Tencent would accelerate the development of its AI engine, and that China’s vast population would also facilitate the establishment and refinement of machine learning algorithms. In any case, Medopad’s primary assets are not data, but rather the algorithms and methodologies it employs to collect and process medical data.

Medopad’s technology can be used to diagnose chronic diseases such as Parkinson’s disease, Alzheimer’s disease, and diabetes. The company has partnered with the Royal Wolverhampton Hospitals NHS Trust in the UK to monitor systemic circulation in patients with aortic stenosis. Additionally, Medopad collaborates with Janssen, the pharmaceutical division of Johnson & Johnson, to facilitate early diagnosis of Alzheimer’s disease.

Medopad CEO Dan Vahdat stated, “Over the past 25 years, we have been discussing connected healthcare, yet no one has truly achieved it. The concept is highly challenging; however, our advanced technology can diagnose diseases based on patients’ behavioral patterns and other vital signs.”

Founded in 1863 and headquartered in Leverkusen, Germany, Bayer is a global leader in the life sciences industry. The company operates 750 production sites across 200 countries and regions on six continents, with a workforce of over 100,000 employees. Bayer’s four core pillars are polymers, pharmaceuticals and consumer health, chemicals, and agriculture, with its business presence spanning nearly every country worldwide.

New World Development Group, established in 2015 and headquartered in Hong Kong, China, is a financial services and investment firm. The company is committed to promoting the development of Hong Kong, with its investment portfolio spanning construction, logistics, environmental protection, and aerospace.

Healthbox, founded in 2010 and headquartered in Chicago, Illinois, USA, is a venture capital firm. The company primarily provides consulting and fund management services to support technology startups.

(Compiled by Xu Xiaoxue)