Cohero Health Closes Series A Funding to Accelerate Commercial Expansion
Three Leaf Ventures leads robust investment round to bolster commercial business, expand clinical trials, and evolve BreatheSmart, the leading respiratory disease management platform.
NEW YORK – November 2, 2016 – Cohero Health, a digital health company that’s established leading connected health tools and technologies to empower respiratory patients and improve care through smart mobile devices, has announced the closing of its $9M Series A financing. The funding round is led by Three Leaf Ventures, an affiliate of the Broe Group, with participation from Zaffre Investments, the investment arm of Blue Cross Blue Shield of Massachusetts.
New investors include GIS Strategic Ventures, Heitkamp & Thumann Group (and subsidiary H&T Presspart), Bioadvance, and P5 Health Ventures.
Funds will be used to grow Cohero’s commercial business development efforts, expand its already robust clinical trial program, and evolve BreatheSmart, the company’s comprehensive connected platform.
Cohero Health remains the first and only company to enable tracking of controller medication, rescue medication and discern lung function in real-time, in an integrated comprehensive model.
“We started Cohero Health with the goal of empowering pulmonary patients to engage in their care,” said Melissa Manice, PhD, co-founder and CEO. “This investment will sustain this mission, transforming respiratory care for patients and the many stakeholders and that support the respiratory community.”
“Using wireless technology, Cohero Health’s approach is clinically transformative in dramatically improving the standard of care for pulmonary patients,” said Sean Kearney, managing director of Three Leaf Ventures. “We are thrilled to be involved in their success and look forward to supporting their growth.”
BreatheSmart actively engages and empowers respiratory patients by tracking medication adherence and measuring lung function. The company’s comprehensive toolkit supports robust patient monitoring and engagement. Wireless medication inhaler sensors tracks patient adherence; an FDA cleared mobile spirometer measures lung function; mobile applications engage patients, and generate custom reminders and reward compliance; and web applications access custom data via HIPAA-compliant servers.
Clinical validation has demonstrated the platform’s viability, achieving medication adherence rates 2.5 times those of standard of care, along with drastic reductions in emergency room visits.
The company is transforming care of asthma, COPD and cystic fibrosis patients and empowering clinicians with critical data to ensure optimal respiratory care. In addition to improving care through digital tools, the company is building the world’s largest data set of respiratory patient demographics, medication utilization, symptoms, exacerbations, pulmonary function, medical history, outcomes and costs. With this data, Cohero Health is introducing a new paradigm of respiratory medicine powered by predictive analytics and personalized treatment.
“With this investment, we will further progress our leading connected health platform, and scale our business to meet market demand.” added co-founder and COO Dan Weinstein. “We’re proud of what we have achieved so far, and excited to continue setting the new standard for respiratory care.” The company has grown significantly in the past year, earning a range of industry accolades including being named winner of Impact Pediatric Health’s Pitch Competition at SXSWi and amongst MedCity News’ Top 15 Patient Engagement Startups in the country. The company also announced new strategic partnerships with Imagincare, developed by Dartmouth Hitchcock as well as H&T Presspart, with whom they have debuted the eMDI, a fully integrated metered dose inhaler that tracks and communicates medication utilization.
The company has already successfully deployed its platform across more than 25 commercial partnerships including major healthcare systems, hospital systems, payers, pharmaceutical manufacturers, pharmacy benefit managers, and other strategic partners, representing over 1 million pediatric and adult asthma, COPD, and cystic fibrosis patients.
About Cohero Health, Inc.
Cohero Health is a digital health company developing innovative tools and technologies to improve respiratory care, reduce avoidable costs, and optimize medication utilization. The company’s connected devices and mobile applications actively engage and empower respiratory patients by measuring lung function and tracking adherence. Based in New York City, the company is a member of StartUp Health, Springboard Enterprises, and Grand Central Tech. The company’s platform has been used by pulmonary patients in over 25 commercial deployments reaching over 1million covered lives.