Medopad raises $25M led by Bayer to develop biomarkers tracked via apps and wearables

Medopad, the UK startup that has been working with Tencent to develop AI-based methods for building and tracking “digital” biomarkers — measurable indicators of the progression of illnesses and diseases that are picked up not with blood samples or in-doctor visits but using apps and wearables, has announced another round of funding to expand the scope of its developments. It has picked up $25 million led by pharmaceuticals giant Bayer, which will be working together with Medopad to build digital biomarkers and therapeutics related to heart health. Medopad said it is also working on separate biomarkers related to Parkinson’s, Alzheimer’s and Diabetes.

The Series B is being made at a post-money valuation of between $200 million and $300 million. In addition to Bayer, Hong Kong firm NWS Holdings and Chicago VC Healthbox also participated. All three are previous investors, with NWS leading its $28 million Series A in 2018, bringing the total raised by Medopad to over $50 million. It also comes on the heels of the company signing a high-profile deals totalling some $140 million with a string of firms in China, including Tencent, Ping An, and the Chinese divisions of GSK, Johnson & Johnson and more.

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