ModivCare Acquires Remote Patient Monitoring Company VRI Intermediate

Huma Therapeutics, a remote patient monitoring and virtual clinical trials platform, announced the completion of its latest Series C funding round of approximately $130 million.

Leaps by Bayer and Hitachi Ventures led the funding round. New investors: Samsung Next, Sony Innovation Fund, Unilever Ventures, HAT Technology & Innovation Fund, Nikesh Arora (former president of SoftBank), and Michael Diekmann (Chairman of Allianz), also participated in the funding round.

According to Huma Therapeutics, the new investment will help expand its digital remote patient monitoring platform in the US, Asia, and the Middle East. The remote patient monitoring solution tracks symptoms and vital signs, flags deterioration, incorporates telemedicine functionality, and is integrable with medical devices, Huma said.

Huma’s virtual clinical trial solution connects trial participants, investigators, and research teams. The solution accelerates recruitment while driving participant engagement and protocol adherence, according to the company.

Huma has fostered new partnerships with clinical research organizations, healthcare providers, payers, research organizations, and technology companies. Huma works with life science companies including AstraZeneca, Bayer, and Janssen and academic institutions such as Stanford Medicine, the Johns Hopkins Bloomberg School of Public Health, and the University of Cambridge.

Keiji Kojima, Executive Vice President of Hitachi’s Smart Life division, said,Huma has built a comprehensive remote patient monitoring platform and established a strong track record, and we are excited to be working with Huma to bring its world-leading health technology to new markets in Asia. We believe that together we can advance new digital health products to power better care and research for all.”

A further commitment of $70 million has also been agreed as part of the Series C funding round and takes the total financing raised to more than $200 million. Goldman Sachs International acted as lead placement agent to Huma. HSBC Bank and Nomura acted as joint placement agents, with the latter also becoming a shareholder.

Remote patient monitoring companies received $356 million in seven funding deals compared to $65 million in one funding deal, according to the latest Mercom Digital Health Funding and M&A Report.