11th Apr 2019 13:04
LONDON (Alliance News) - Biopharmaceutical firm PureTech Health PLC on Thursday said its Sonde Health affiliate has completed a USD16 million series A funding round.
PureTech founded Sonde, which is developing a voice-based technology platform to monitor and diagnose health conditions. Following the financing, PureTech has a 55.8% stake in Sonde on a diluted basis.
Other participants in the funding round included M Ventures - which is the corporate venture capital arm of medicine maker Merck KGaA - and MP Healthcare Venture Management Inc, the venture capital arm of Mitsubishi Tanabe Pharma Corp.
Proceeds from the financing will be used to advance the capability of Sonde into multiple health conditions and different types of devices, as well as to fund commercialisation.
Sonde's technology measures subtle changes in the vioce and uses them as biomarkers to assess patient health. Mental health problems, such as depression, are of particular focus for the technology.
PureTech Chief Innovation Officer Eric Elenko said: "Sonde is pioneering an entirely new approach to health care with its proprietary platform. Their technology is designed to efficiently detect early signs of illness and monitor for changes in health using just a few seconds of voice. It's an exciting approach with the potential to improve treatments and outcomes across a wide range of diseases, and we're pleased to have a strong group of investors take it forward."
Shares in PureTech were up 2.6% at 170.00 pence on Thursday afternoon.
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