Copenhagen-based digital health company specializing in chronic disease management Dawn Health secured $13 million (€11.5 million) from existing investors Chr. Augustinus Fabrikker, the export and investment fund of Denmark (EIFO) and Trifork.
WHAT IT DOES
Dawn Health’s platform and products are used in oncology and for multiple sclerosis and rare pediatric conditions, like growth disorders, to help pharma companies, patients and healthcare professionals boost outcomes and patient care by leveraging advanced capabilities in AI, data, evidence generation, clinical integrations, personalization and connected health.
Merck and Novartis are among the companies that have adopted Dawn’s offerings.
The company will use the funds to market its platform and product suite to global pharmaceutical companies through a software-as-a-service (SaaS) model.
“Our ambition is to be the global leader in digital health, powering pharma’s next-generation products and ultimately improving the lives of patients worldwide,” Alexander Mandix Hansen, CEO of Dawn Health, said in a statement.
“This funding allows us to bring our proven platform to more markets and deepen our impact.”
MARKET SNAPSHOT
In 2023, Dawn Health partnered with Novartis to develop a chronic condition management platform.
Under the collaboration, Dawn and Novartis built remote monitoring and management tools for chronic conditions where they see an unmet need and concerns around disease progression, like multiple sclerosis, hypertension, cardiovascular disease and breast cancer.
The platform includes patient mobile apps, symptom monitoring, digital biomarkers, clinical decision support services and virtual clinic offerings geared toward specific diseases and conditions.
Other companies in the chronic condition space include Wellth, which secured $20 million in Series B funding in 2023.
The round was led by SignalFire, with participation from former Evolent Health CEO Frank Williams and previous investors the Social Entrepreneurs’ Fund, CD Venture, Yabeo and the Partnership Fund for NYC.
In 2022, Omada Health included behavioral health support in its existing programs for diabetes prevention and management, hypertension and musculoskeletal care.
The behavioral health integration includes anxiety and depression assessment, resources to manage social determinants of health, stress management and sleep tools. It offers care teams supplemented by mental health specialists and training, triage and guidance in serious mental health crises.
That same year, the company raised a hefty $192 million in Series E funding, which it used to invest in new hires, its tech road map for care personalization and its Omada Insights Lab.
Fidelity Management & Research Company led the round, which included participation from aMoon, Perceptive Advisors, Wellington Management, Civilization Ventures and others.
