Biofourmis scores another $20M and more digital health fundings

AI-backed remote monitoring and digital therapeutics company Biofourmis added another $20 million to its Series D round, bringing its raise to $320 million.

The extension funding comes from Intel Capital, the strategic investment division of chipmaker Intel. The company first announced its Series D in April, which boosted Biofourmis to unicorn status with a valuation of $1.3 billion.

Biofourmis also announced it had appointed two new board members: former Tenet Healthcare Chairman and CEO Trevor Fetter and Sachin H. Jain, president and CEO of SCAN Group and SCAN Health Plan.

“To receive this additional funding from the venture capital arm of a global technology giant during an unpredictable time in digital health investment is further validation of Biofourmis’ market strength and potential and validates that we are distinguishing ourselves in the market,” Biofourmis founder and CEO Kuldeep Singh Rajput said in a statement. “We are on a strong trajectory for continued strategic growth in the coming years in terms of customers, partners and solution development.”

Patient monitoring company Sibel Health scored $33 million last week in a Series B funding round led by the Steele Foundation for Hope.

The Northwestern University spinout will use the funds to deploy its ANNE One platform for in-home and hospital monitoring. The system, which includes two types of wearable sensors and an analytics app, received FDA 510(k) clearance last year.  

Sibel said the Series B brings its total raise to more than $50 million. The company also announced it had appointed Jon Otterstatter, former CEO and cofounder of cardiac monitoring company Preventice, chairman of the board. Matthew Banet joins the company as president from Baxter International. 

“What makes us unique as a digital health company is that our product is vertically integrated — we believe that everything matters, from the adhesive we place on the skin to how the sensor fits on the body to the final alert a clinician sees for medical decision-making,” Dr. Steve Xu, Sibel CEO and cofounder, said in a statement. “We’re proud that our technology can be potentially deployed in both the neonatal intensive care unit and in the home for remote patient monitoring.”

Atropos Health, which makes an app that helps physicians access real-world evidence to guide patient care, announced it had raised $14 million in Series A funding.

The round was led by Breyer Capital with participation from investors including Emerson Collective and Boston Millennia Partners. The company’s tool allows providers to receive reports based on past patient encounters that can help answer clinical questions where there isn’t a clear care path based on established research.

Atropos plans to use the funds to hire for its commercial team and develop its oncology product. The startup also announced it had appointed cofounder Brigham Hyde as CEO.

“I am excited about the enormous potential Atropos has to advance how evidence-based medicine is practiced across the globe,” Hyde said in a statement. “I am honored to get the chance to lead the business day-to-day and bring personalized real-world evidence to patients and caregivers everywhere.”

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