Company Receives Investment from Johnson & Johnson Innovation – JJDC, Inc., Bringing Total Series B Raise to $29.5 Million
Baltimore, MD – March 1, 2016 –WellDoc, a digital health technology leader, today announced a collaboration with LifeScan, Inc., a business within the Johnson & Johnson Diabetes Care Companies and a world leader in blood glucose monitoring, to deliver a bestin-class digital health solution for patients living with Type 2 diabetes. The agreement was facilitated with LifeScan affiliate Cilag GmbH International. In addition to the collaboration, Johnson & Johnson Innovation – JJDC, Inc. (JJDC) participated in WellDoc’s $29.5 million Series B financing.
Under the collaboration, WellDoc’s BlueStar® product, the first FDA-cleared digital therapeutic for adults who live with Type 2 diabetes, will be integrated with LifeScan’s OneTouchVerio Flex™ Bluetooth® Smart blood glucose monitoring system and OneTouch Reveal® mobile app. The collaboration will seek to leverage LifeScan’s trusted blood glucose monitoring system and mobile application along with the robust data analytics and patient engagement of WellDoc’s clinically validated, reimbursable, mobile prescription therapy, BlueStar®, to create a comprehensive, real-time, personalized approach for the
management of Type 2 diabetes.
“Entering into a development agreement with LifeScan, as well as receiving a financial investment from Johnson & Johnson Innovation – JJDC, Inc., marks the start of an important relationship. Together, we will seek to provide those living with Type 2 diabetes a best-in class diabetes management solution that delivers evidence-based and outcomes-driven support in a consumer-friendly manner,” said Kevin McRaith, CEO of WellDoc. “This is a very significant step forward for our company and has the potential to make a difference in the lives of millions of people living with this chronic disease.”
As announced in December 2015, Samsung Ventures, the venture arm of the consumer electronics giant, acted as the lead investor in the initial Series B raise with existing investor Merck Global Health Innovation (GHI) Fund serving as co-lead. Adage Capital Management, Excel Venture Management, Asset Management Ventures, Alexandria Venture Investments, Hudson River Capital Partners LLC, and other investors also participated in the financing.
WellDoc is a digital health technology company that develops mobile solutions to drive behavioral and clinical change in chronic disease. WellDoc’s goal is to improve patient self management and help physicians overcome gaps in the delivery system to improve clinical outcomes and decrease cost. WellDoc has commercialized BlueStar®, a digital therapeutic, for adults with type 2 diabetes. This therapeutic is designed to fill the support gap between patients and providers during the 8700 hours that individuals live their lives outside the healthcare system each year. WellDoc has a proven track record of contributing published, peer-reviewed clinical evidence since 2008 and in June 2015 presented real-world patient engagement and clinical outcomes at the American Diabetes Association’s (ADA) 75th Scientific Session. BlueStar® is recognized by the ADA on its website as the first and only in the new class of diabetes treatment known as Mobile Prescription Therapy. In a recently published Forbes blog, WellDoc was named among one of five healthcare tech companies to
watch in 2016. For more information, visit www.WellDoc.com and www.BlueStarDiabetes.com.