London-based Huma Therapeutics (formerly Medopad) has raised $130 million in a Series C funding round led by Bayer and Hitachi Ventures.
New investors in the round included Samsung Next, Sony Innovation Fund, Unilever Ventures, and HAT Technology & Innovation Fund, as well as Nikesh Arora, former president of SoftBank and Michael Diekmann, chairman of Allianz.
A further commitment of $70 million that can be exercised later has also been agreed as part of the round and takes the total financing raised to more than $200 million. Goldman Sachs International acted as lead placement agent to Huma. HSBC Bank and Nomura acted as joint placement agents, with the latter also becoming a shareholder.
Huma said its digital ‘hospital at home’ was co-created with clinicians and can almost double clinical capacity, reduce hospital readmissions by over a third and has patient adherence levels of more than 90%. The service is supporting governments’ pandemic responses on a not-for-profit basis and is now used for a range of patients including those going through knee and hip replacement surgery. It added that it partners with four entities (England’s NHS, and the governments of Wales, Germany and the UAE).
The company said the investment will be used to scale its modular platform which can enable digital ‘hospitals at home’ nationally, and support the pharmaceutical and research industries to run large decentralised clinical trials. Huma’s platform combines predictive algorithms, digital biomarkers and real-world data to advance proactive care and research. Huma added it is expanding its digital platform in the US, Asia and the Middle East.
Dan Vahdat, founder and chief executive of Huma, said: “This is a pivotal moment in Huma’s development. We have exceptional partners and strategic investors who will support us in our mission to help people worldwide live longer and fuller lives. We’re already demonstrating how ‘hospital at home’ can transform healthcare, and how decentralised clinical trials can advance research in ways that weren’t imaginable even one year ago. Now we want to accelerate the pace of change and continue to innovate for better care and research worldwide.’’
Alan Milburn, former UK health secretary and chairman of Huma’s board, added: “This is a significant moment in Huma’s history and I will work to build enduring, trusted relationships with our new partners. We are living through unprecedented times and the importance of health and wellbeing is underlined as never before. Together with our partners we can use our expertise, technology, and innovation to change the face of healthcare and research and impact people’s health everywhere.”
Dr Claudia Suessmuth Dyckerhoff, Huma board director, commented: “The pandemic has exposed weaknesses across health systems around the world but through collaboration, innovation, and compassionate leadership Huma can support faster and safer care for patients through digital technologies and rapid access to treatments by accelerating clinical research.”
Date published: May 12, 2021