Digital therapeutics startup Swing Therapeutics wrapped up a $10.3 million Collection A funding spherical led by Jazz Enterprise Companions.
Different contributors within the elevate embrace Alumni Ventures, AME Cloud Ventures, Asahi Kasei Company Ventures, Gaingels, Kicker Ventures, Mana Ventures and Metrodora Ventures. Swing Therapeutics was based in 2019 and launched with $9 million in seed funding.
WHAT THEY DO
Swing focuses on constructing and testing a digital therapeutic for fibromyalgia, which causes widespread musculoskeletal ache in addition to fatigue, sleep, reminiscence and temper issues.
In August, the startup introduced it had obtained FDA Breakthrough Gadget designation for its smartphone-administered therapeutic, a 12-week program that makes use of acceptance and dedication remedy (ACT), a kind of cognitive behavioral remedy, to assist sufferers perceive and handle their signs.
Swing plans to make use of the Collection A to assist its PROSPER-FM randomized scientific trial learning the effectiveness of its digital ACT program and its symptom tracker. It additionally will use the funds to open an affiliated telemedicine clinic.
“Individuals residing with fibromyalgia have restricted therapy choices, and behavioral therapies and different non-pharmacologic approaches are sometimes not simply accessible,” Dr. Lesley Arnold, lead investigator of the PROSPER-FM research, stated in an announcement. “I’m trying ahead to evaluating additional how Swing’s remedy would possibly enhance fibromyalgia administration utilizing an method that may very well be available to individuals with fibromyalgia, a lot of whom proceed to have unmet therapy wants.”
MARKET SNAPSHOT
One other firm within the digital therapeutic area, AppliedVR, makes use of cognitive behavioral remedy in digital actuality classes to handle power ache. The startup obtained FDA De Novo clearance to make use of its VR system to deal with power lower-back ache final 12 months, across the identical time it introduced a $36 million Collection B.
Late final 12 months, digital irritable bowel syndrome (IBS) care startup metaMe Well being obtained FDA 510(ok) clearance for Regulora, a prescription digital therapeutic (PDT) that delivers gut-directed hypnotherapy to alleviate stomach ache related to IBS in adults. The corporate just lately partnered to convey the PDT to market, not lengthy after a $2.2 million elevate.
Others providing digital therapeutics embrace Happify Well being, Pear Therapeutics, Huge Well being and Alex Therapeutics.
