Biofourmis also said today that it is realigning its internal operations into two verticals: Biofourmis Therapeutics, which partners with companies like AstraZeneca and Chugai to created software that can help increased the efficacy of drug treatments, and Biofourmis Health, a “home hospital” platform that allows health providers to monitor patients remotely as they transition out of acute care.
The digital therapeutics company, which launched in Singapore and is now headquartered in Boston, announced today it closed a $100 million Series C led by SoftBank Vision Fund 2, with participation from returning investors Openspace Ventures, MassMutual Ventures, Sequoia Capital and EDBI.
The first Vision Fund is coping with heavy losses stemming in large part from its investments in WeWork and Uber, so the performance of Vision Fund 2’s focus on markets including healthtech (its other investments in the space include pharmaceutical delivery startup Alto and life sciences company Karius) is being closely watched.
Biofourmis also made several acquisitions, including wearable biosensor startup Biovotion and Gaido Health, a digital therapeutics company for cancer patients.
Since its Series A funding, Biofourmis has grown through a series of partnerships with seven pharmaceutical companies and 10 health systems, including Novartis, AstraZeneca, and Mayo Clinic.
Biofourmis’ platform combines AI-based health analytics and wearable sensors to help healthcare providers gauge patient progress and the effectiveness of drugs and other treatments.
Biofourmis, which combines AI-based data analytics and biosensors to monitor the progress of medical treatments, has raised funding from one of the world’s most high-profile investors.
The company’s last funding announcement was in May 2019 for a $35 million Series A led by Sequoia India and MassMutual, the venture capital arm of Massachusetts Mutual Life Insurance Company.