PhysIQ Closes $8 Million in Series B Financing
• 4490 Ventures and Quark Venture, with partner GF Securities, invest in commercial launch of physIQ VitaLink solution and join Board of Directors
• PhysIQ’s go-to-market leverages continuous real-world patient data and personalized analytics to transform both post-acute care and clinical trials implementation
• Market traction validates physIQ’s value proposition as an industry leader in AI-driven digital medicine
CHICAGO—July 25, 2017– PhysIQ, a leader in developing solutions that leverage artificial intelligence (AI) to empower digital health for ambulatory patient monitoring and clinical trial support, today announced the closure of $8 million Series B financing led by 4490 Ventures. Joining 4490 is the Global Health Sciences (GHS) Fund through Quark Venture Inc. and GF Securities, along with existing investor LionBird and others. Dan Malven, Managing Partner at 4490 Ventures, and Zafrira Avnur, PhD, Chief Scientific Officer at Quark Venture, have also both joined the PhysIQ Board of Directors.
The financing will be used in support of the commercial launch of the physIQ VitaLink solution. The company’s solution collects continuous physiological patient data from wearable and implantable sensors and applies AI technology to transform this data into personalized patient insight. Healthcare providers, payers, pharmaceutical and medical device companies are leveraging the FDA-cleared personalized analytics to proactively manage at-risk ambulatory patients. Pharmaceutical and medical device manufacturers are also integrating VitaLink into their clinical trials in order to capitalize on new, “real world” data sets to validate the safety and efficacy of their products.
“Market reception to our transformational VitaLink solution confirms we have entered a new era of health care…one where continuous real world data and personalized analytics are generating unprecedented patient insight. PhysIQ’s proprietary AI-enabled technology detects subtle, yet significant, changes in physiological parameters, thereby allowing healthcare enterprises to proactively manage patients to mitigate the costs associated with readmissions, inadequate therapies, non-adherent patients and other clinical events in commercial, government and clinical trial settings. As we scale to meet demand for our game-changing healthcare solution, we enthusiastically welcome our new financial partners 4490 Ventures and Quark Venture/GF Securities,” said Gary Conkright, physIQ CEO, Director and Founder.
“The convergence of IT and medicine holds the promise to fundamentally change how clinicians diagnose, treat, prescribe, intervene and manage patient health. Converting continuous data into actionable insight is a foundational capability to the future of healthcare delivery,” added Malven. “The physIQ team is uniquely equipped to make that happen with their market leading cloud-based platform and personalized analytics technology, protected with over 100 issued patents, that they previously commercialized in other highly demanding industries.”
“PhysIQ’s ability to detect changes from a patient’s personalized baseline is a game-changer for pharmaceutical and medical device companies seeking better approaches to validate the safety and efficacy of their products. As a fund that invests in breakthrough health science technology platforms that lead to transformational change, we are very excited about the opportunity presented by physIQ’s powerful technology,” added Karimah Es Sabar, Director of the GHS Fund and Chief Executive Officer of Quark Venture.
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