Private equity-backed digital medicines company Proteus Digital Health has secured a $120m investment.
Proteus said it raised the money from “major new institutional investors.
The company’s existing backers include Adams Street Partners, Asset Management Ventures, Carlyle, Fletcher Spaght Ventures, Kaiser Permanente Ventures, Novartis and Spring Ridge Ventures.
It said the new investors are based in the US, Europe and Asia.
HSBC chairman and Proteus director Jonathan Symonds said, “ We are at the beginning of a new growth cycle in the pharmaceutical industry driven by breakthrough technology in areas like stem cells, genomics and digital platforms.
“Proteus Digital Health has created a remarkable leadership position in the digital health care market by enabling medicines to communicate with the internet.
“This technology has the potential to enable Proteus Digital Health and its partners to re-engineer the existing commercial assets of the pharmaceutical industry in order to create high value proprietary products that leverage the drugs they already sell using the mobile phone in every consumer’s pocket.”
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