One Drop Announces Nearly $100M Financing And Commitments By Bayer
PR85230
NEW YORK, Aug. 24, 2020 /PRNewswire=KYODO JBN/--
-- $98.7M financing, development fees and commercial milestone commitments
accelerate the development and commercialization of One Drop's digital health
platform and data-driven predictive capabilities across multiple therapeutic areas
One Drop, a leader in digital solutions for people living with diabetes and
other chronic conditions, today announced a new agreement with Bayer to jointly
develop digital health products for multiple therapeutic areas based on One
Drop's predictive, preventative, personalized self-care platform. It has closed
on a $34.7 million Series C financing led by Bayer as well as $64 million in
development fees and potential commercial milestone payments.
Logo - https://mma.prnewswire.com/media/427008/One_Drop_Logo.jpg
Logo - https://mma.prnewswire.com/media/1232140/One_Drop_and_Bayer_Logo.jpg
Photo -
https://mma.prnewswire.com/media/837526/One_Drop___Automated_Decision_Support.jpg
Photo -
https://mma.prnewswire.com/media/1153979/One_Drop___Real_Time_Glucose_Forecasts.jpg
Photo -
https://mma.prnewswire.com/media/1153980/One_Drop___Everything_you_need_to_manage_your_diabetes.jpg
Photo - https://mma.prnewswire.com/media/427006/One_Drop_Android_Feature.jpg
Photo - https://mma.prnewswire.com/media/445314/One_Drop_Coffee_and_One_Drop.jpg
The new agreement demonstrates Bayer's commitment to its partnership with One
Drop and the One Drop vision of data-powered, efficient, personalized self-care
as the future of chronic condition management. One Drop's winning solution is
fueled by data, drawing on more than 13 billion diverse health data points from
users who have downloaded One Drop over three million times. This data-powered
platform enables health predictions delivered through a user-centric experience
that provides the right interventions at the right times.
While One Drop currently supports people in the management of diabetes,
prediabetes, high blood pressure, high cholesterol, or any combination of these
conditions, Bayer's $64 million in development commitments and potential
commercial milestones will help expand One Drop's industry-leading solution
into Bayer's focus areas, e.g., cardiology, oncology and women's health. The
modular architecture of One Drop's solution will enable expansion into the new
therapeutic areas. Rather than treating individual conditions, One Drop's
self-care experience will support all the conditions that an individual may be
managing, delivering a whole-person approach that drives sustainable outcomes.
"To deliver better health outcomes and cost savings at a population level, we
must focus on individuals," said Jeff Dachis, CEO and founder. "One Drop
delivers a personalized health transformation program that dynamically tunes to
your needs and behaviors each day, empowering each individual to achieve the
best possible health outcomes. In contrast, other platforms lacking our data
wealth and predictive engine continue to focus on telemedicine and remote
monitoring, reacting to problems that have already occurred and delivering a
one-size-fits-all model that works for some, but fails for most."
One Drop's digital health platform has been available to consumers, employers,
insurers, and healthcare providers since 2016, and its effectiveness has been
confirmed by over 20 peer-reviewed studies demonstrating significant
improvements in glycemic control among people living with diabetes in as little
as one month. Most recently, at the 80th Annual American Diabetes Association's
Scientific Sessions, One Drop presented long-term A1C, blood pressure, and
for individuals living with diabetes, hypertension, and prediabetes, as well
as overnight hypoglycemia predictions for continuous glucose monitor (CGM)
users. These forecasts are powered by the same pooled population data that
drives the machine learning models behind One Drop's health forecasting and
Currently, One Drop users can receive eight-hour glucose forecasts, along
with real-time advice for exercise, diet, and lifestyle adjustments, every time
they log data in the One Drop app.
"Building new digital business models is a key element of our business strategy
with the ambition to actively shape the future of healthcare," said Jeanne
Kehren, PhD, Head of Digital & Commercial Innovation and Member of the
Pharmaceuticals Executive Committee of Bayer AG. "We are convinced that a
data-driven approach will empower patients to drive better outcomes for
themselves and will bring back the person, not the disease, as the point of
focus. The new collaboration with One Drop allows Bayer to further accelerate
its evolution towards a digital health business and paves the way for new
integrated care patient service offerings."
By focusing on the individual, One Drop's intelligent solution bridges the
final mile between healthcare and self-care by meeting the needs of
stakeholders across the industry, from the provider who desires improved
patient care, to the manufacturer who wants to maximize effectiveness, and
finally to the payers who seek to improve outcomes and lower healthcare costs.
About One Drop
One Drop (https://c212.net/c/link/?t=0&l=en&o=2893874-1&h=3280307868&u=https%3A%2F%2Fonedrop.today%2F&a=One+Drop )
reimagines possible by harnessing the power of clinical science, behavioral
science and advanced AI to transform the lives of people with chronic
conditions worldwide. Evidence-based and clinically effective, One Drop's
digital health platform delivers one-on-one coaching and personalized health
transformation plans that promote positive behavior change and drive outcomes
for all individuals, while reducing costs for their insurers, employers, and
healthcare providers. One Drop products and services can be purchased in One
Drop's award-winning app (iOS and Android) and at https://onedrop.today,
the Apple Store (https://c212.net/c/link/?t=0&l=en&o=2893874-1&h=3566588332&u=https%3A%2F%2Fwww.apple.com%2Fshop%2Fproduct%2FHMN02LL%2FA%2Fone-drop-chrome-blood-glucose-monitoring-kit&a=Apple+Store ), and CVS.
For information on helping your organization lower the cost of care, contact
results@onedrop.today.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields
of healthcare and nutrition. Its products and services are designed to benefit
people by supporting efforts to overcome the major challenges presented by a
growing and aging global population. At the same time, the Group aims to
increase its earning power and create value through innovation and growth.
Bayer is committed to the principles of sustainable development, and the Bayer
brand stands for trust, reliability and quality throughout the world. In fiscal
2019, the Group employed around 104,000 people and had sales of 43.5 billion
euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3
billion euros. For more information, go to www.bayer.com
Find more information at www.pharma.bayer.com
Our online press service is just a click away: media.bayer.com
Follow us on Facebook: http://www.facebook.com/pharma.bayer
Follow us on Twitter: @BayerPharma (https://c212.net/c/link/?t=0&l=en&o=2893874-1&h=1946365603&u=https%3A%2F%2Ftwitter.com%2Fbayerpharma&a=%40BayerPharma )
SOURCE: One Drop
CONTACT: Rachel Sanchez-Madhur
Email: press@onedrop.today;
Sarah-Christine Wanner
phone +49-30-468-193-178
Email: sarah-christine.wanner@bayer.com;
Silke Lengemann
phone +49-30-468-193-184
Email: silke.lengemann@bayer.com
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。
