"Smart pill" firm Proteus raises $172 million
29/07/2014 15:45
July 29 (Reuters) - A U.S. biotech company pioneering
tablets containing embedded microchips that can tell if patients
have taken their medication has raised a further $172 million,
showing investor interest in its ingestible and wearable
technology.
Privately held Proteus Digital Health, which is working with
drugmakers including Novartis NOVN.VX and Otsuka 4768.T ,
said on Tuesday the funding was one of the biggest U.S. private
financings this year and the largest in the digital health
sector.
Proteus already has European and U.S. approval for its
"smart pill" technology system, in which a tiny sensor is
embedded in a tablet and linked to a patch worn on the patient's
abdomen.
About the size of a grain of sand, the sensor has no battery
or antenna and is powered by reacting with stomach juices.
Information is sent from the sensor to the small skin patch,
which transmits data by Bluetooth to a smartphone or tablet
computer.
In addition to telling doctors if patients are taking their
medicines properly, the tiny sensors can also monitor vital
signs, such as heart rate.
Earlier this year the Redwood City, California-based group
announced it was establishing its first international
manufacturing site in Britain. ID:nL6N0M71FD
Proteus's funders include Carlyle CG.O , Essex Woodlands,
Kaiser Permanente, Medtronic MDT.N , Novartis, Otsuka, Oracle
ORCL.N and ON Semiconductor ONNN.O . The company said the
latest fundraising involved additional unidentified
institutional investors.
(Reporting by Ben Hirschler; Editing by David Holmes)
((ben.hirschler@thomsonreuters.com; +44 20 7542 5082; Reuters
Messaging: ben.hirschler.thomsonreuters.com@reuters.net))
Keywords: PROTEUS FUNDING/