Digital therapeutics startup Swing Therapeutics wrapped up a $10.3 million Sequence A funding spherical led by Jazz Enterprise Companions.
Different individuals within the elevate embody 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 acquired FDA Breakthrough Device designation for its smartphone-administered therapeutic, a 12-week program that makes use of acceptance and dedication remedy (ACT), a sort of cognitive behavioral remedy, to assist sufferers perceive and handle their signs.
Swing plans to make use of the Sequence A to assist its PROSPER-FM randomized scientific trial finding out the effectiveness of its digital ACT program and its symptom tracker. It additionally will use the funds to open an affiliated telemedicine clinic.
“Folks residing with fibromyalgia have restricted remedy choices, and behavioral therapies and different non-pharmacologic approaches are sometimes not simply accessible,” Dr. Lesley Arnold, lead investigator of the PROSPER-FM examine, stated in a press release. “I’m trying ahead to evaluating additional how Swing’s remedy may enhance fibromyalgia administration utilizing an method that may very well be available to individuals with fibromyalgia, lots of whom proceed to have unmet remedy wants.”
MARKET SNAPSHOT
One other firm within the digital therapeutic house, AppliedVR, makes use of cognitive behavioral remedy in digital actuality periods to handle persistent ache. The startup acquired FDA De Novo clearance to make use of its VR system to deal with persistent lower-back ache final 12 months, across the similar time it introduced a $36 million Series B.
Late final 12 months, digital irritable bowel syndrome (IBS) care startup metaMe Well being received FDA 510(k) clearance for Regulora, a prescription digital therapeutic (PDT) that delivers gut-directed hypnotherapy to alleviate stomach ache related to IBS in adults. The corporate lately partnered to deliver the PDT to market, not lengthy after a $2.2 million raise.
Others providing digital therapeutics embody Happify Health, Pear Therapeutics, Big Health and Alex Therapeutics.
