Propeller and Aptar first collaborated in 2016. The former just gave the latter a big chunk of change—and a long-term partnership.
Digital therapeutics company Propeller Health announced today that it added 8 figures’ worth of additional latitude in a Series D round—and formalized a partnership to expand its offerings dramatically.
With $20 million in new funding, the company said it will further invest in its pipeline of digital therapeutics and connected devices for chronic respiratory diseases. Existing investors Safeguard Scientifics, Social Capital, Hikma, 3M Ventures and SR One all contributed, while lead investor Aptar Pharma accounted for $10 million.
Propeller’s technology leverages sensors and analytics to provide patient-specific guidance via mobile app for those who suffer asthma or chronic obstructive pulmonary disorder (COPD). Their existing product is an internet-and-Bluetooth-enabled node that attaches to a standard inhaler canister.
In a separate announcement, Aptar and Propeller unveiled a new strategic partnership. Aptar produces pharmaceutical delivery devices—like inhalers and injectors—that it will pair with Propeller’s software suite to track outcomes and encourage drug adherence. The companies first partnered in 2016 to produce the first fully-integrated connected metered dose inhaler.
Under the new partnership, the 2 companies will launch “a comprehensive platform to develop digital medicines for multiple therapeutic areas and diseases.” Aptar’s deck includes a host of drug delivery systems meant to address a diverse array of conditions, which should help Propeller grow beyond its bread-and-butter in the respiratory health market.
Executives at both companies emphasized the partnership’s potential to broaden their reaches.
“We now have the foundation in place to bring the benefits of digital medicines to many new conditions,” Propeller co-founder and CEO David Van Sickle said while discussing the new funding. “We’re excited to expand our relationship with Aptar and apply our expertise to new diseases,” he added in the partnership announcement.
Aptar Pharma president Salim Haffar called his company’s partner “the leader in their field of digital therapeutics” and said that the arrangement “will provide significant value to patients, healthcare providers, payers and our pharma company partners."
Formally launched in 2010, Propeller has raised nearly $70 million to date. The company has 8 FDA 510(k) medical device clearances, and it claims its technology is used by over 25,000 patients in more than 500 health systems.