Biofourmis is a biotech company that bolsters personalized therapies and care with the help of digital therapeutics. To enable better outcomes for patients, the company discovers, develops, and delivers clinically validated software-based therapeutics. It helps provides payers with personalized care and cost-effective advanced solutions.
The Series D funding round was led by General Atlantic. CVS Health and existing investors participated in the round that led Biofourmis to unicorn status. The new funding will be used to propel the next growth phase, as well as to scale the company’s virtual care offers. Also, Biofourmis will put a part of the money into clinical trials funding.
Biofourmis, Boston, the USA, was founded by Kuldeep Singh Rajput, Maulik Majmudar, and Wendou Niu in 2015. Originally from Singapore, in 2019, the company relocated the headquarter to the USA. The core of the business is AI applications for patients monitoring and disease predictions. It includes hardware sensors paired with software for continuous analysis of biomarkers such as heart rate, temperature, and respiration rate. This year, Biofourmis expanded its virtual care offering by launching a new program, Biofourmis Care. It focuses on heart failure, hypertension, diabetes, lipid management, and atrial fibrillation. Biofourmis also plans M&A. “And if there are companies who provide virtual care and have much better penetration into health systems, we will be interested in those so that we can jointly you know acquire a majority of the market,” Kuldeep Singh Rajput, CEO.