Cohero Health closes $9m financing round
November 7, 2016
New York digital health company Cohero Health has closed a $9m series A financing round to expand its connected health tools and technologies to empower respiratory patients and improve care through smart mobile devices.
The funding round was led by Three Leaf Ventures, an affiliate of the Broe Group, with continuing participation from Zaffre Investments, the investment arm of Blue Cross Blue Shield of Massachusetts, and BioAdvance.
New investors include GIS Strategic Ventures, Heitkamp & Thumann Group and P5 Health Ventures. Funds will be used to grow Cohero’s commercial business development efforts, expand its clinical trial programme and evolve BreatheSmart, the company’s connected platform.
Cohero Health enables tracking of controller medication, rescue medication and discern lung function in real time, in an integrated comprehensive model.
“We started Cohero Health with the goal of empowering pulmonary patients to engage in their care,” said Melissa Manice, co-founder and CEO. “This investment will sustain this mission, transforming respiratory care for patients and the many stakeholders that support the respiratory community.”
BreatheSmart actively engages and empowers respiratory patients by tracking medication adherence and measuring lung function. The company’s toolkit supports patient monitoring and engagement. Wireless medication inhaler sensors tracks patient adherence; an FDA cleared mobile spirometer measures lung function; mobile applications engage patients, and generate custom reminders and reward compliance; and web applications access custom data via HIPAA-compliant servers.
“Using wireless technology, Cohero Health’s approach is clinically transformative in dramatically improving the standard of care for pulmonary patients,” said Sean Kearney, managing director of Three Leaf Ventures. “We are thrilled to be involved in their success and look forward to supporting their growth.”
Clinical validation has demonstrated the platform’s viability, achieving medication adherence rates 2.5 times those of standard of care, along with drastic reductions in emergency room visits.
The company is transforming care of asthma, COPD and cystic fibrosis patients and empowering clinicians with critical data to ensure optimal respiratory care. In addition to improving care through digital tools, the company is building what it says is the world’s largest data set of respiratory patient demographics, medication utilisation, symptoms, exacerbations, pulmonary function, medical history, outcomes and costs. With this data, Cohero is introducing a paradigm of respiratory medicine powered by predictive analytics and personalised treatment.
"With this investment, we will further progress our leading connected health platform, and scale our business to meet market demand," said co-founder and COO Dan Weinstein. "We're proud of what we have achieved so far, and excited to continue setting the new standard for respiratory care."
The company has grown significantly in the past year, earning a range of industry accolades. The start-up also announced strategic partnerships with ImagineCare, developed by Dartmouth Hitchcock, as well as H&T Presspart, with which it has debuted the eMDI, an integrated metered dose inhaler that tracks and communicates medication use.
The company has deployed its platform across more than 25 commercial partnerships including major healthcare systems, hospital systems, payers, pharmaceutical manufacturers, pharmacy benefit managers, and other strategic partners, representing more than one million paediatric and adult asthma, COPD, and cystic fibrosis patients.
Based in New York City, the company is a member of StartUp Health, Springboard Enterprises and Grand Central Tech.