Leaps by Bayer Leads USD 90 Million Series B Financing in Digital Health Company Ada Health
Leaps by Bayer, the impact investment arm of Bayer AG, today announces that it has led a USD 90 million Series B investment in Berlin-based digital health company Ada Health GmbH (“Ada”). Additional investors joined the round, including Samsung Catalyst Fund, Vitruvian Partners, Inteligo Bank, F4 and Mutschler Ventures.
The investment will help advance Ada’s popular health assessment technology, enabling the digital health pioneer to accelerate its path towards becoming the world’s leading personalized operating system for health, as well as to further grow the company’s leading position in the United States. In addition to today’s announcement, Bayer and Ada Health are in discussions about entering into a longer-term strategic partnership to support the company’s healthcare businesses.
Ada Health has developed a powerful AI-based health assessment and care navigation platform that helps users to understand their symptoms, to identify and differentiate conditions with a high degree of medical accuracy, and to navigate safely to the right care, at the right time. Ada’s consumer app has become the world’s most popular and highest-rated symptom assessment app, with over 23 million assessments completed since its global launch.
Ada’s core technology is also available in a suite of AI-driven enterprise solutions. The company is collaborating with a range of leading health systems, insurers, life sciences companies, and global non-profit organizations to integrate its symptom assessment and care navigation solutions into a range of digital care journeys to improve outcomes for patients, consumers and healthcare providers.
“Investing in breakthrough technologies that drive digital change in healthcare is one of the strategic imperatives for Leaps by Bayer and for the entire field of healthcare,” said Dr. Jürgen Eckhardt, Head of Leaps by Bayer. “Ada’s truly transformative technology, combining powerful artificial intelligence with an emphasis on medical rigor and high levels of clinical accuracy will lead the way in helping more patients and consumers in achieving better health outcomes sooner by intervening earlier in their healthcare journey.”
The timely detection of diseases is one of the biggest challenges in guiding consumers and patients to appropriate care, with under-diagnosis, misdiagnosis, and long patient journeys to diagnosis and care unfortunately being commonplace. In addition, global healthcare systems are overburdened, with organizations required to meet pressures such as growing and ageing populations, emerging comorbidity requiring treatment, and the ongoing pandemic. Ada can help shorten time to diagnosis by providing medical guidance that is relevant, actionable and effective, and will increasingly leverage personalized data insights to support the prediction and prevention of diseases.
“Today’s investment will help bring us closer to our goal of improving healthcare outcomes for more than 1 billion people around the world. We’re proud to have investors on board who truly believe in Ada’s technology and vision of transforming the way people access healthcare,” Daniel Nathrath, CEO and co-founder of Ada Health comments on today’s announcement. “We are thrilled to have Leaps by Bayer as the lead investor particularly as our values are very much aligned with putting science and technology as well as a commitment to medical quality and user-centricity at the heart of everything we do.”
- Eloxx Pharmaceuticals Announces Final Data Assessment from Phase 2 Combination Clinical Trial of ELX-02 in Class 1 Cystic Fibrosis Patients Read more
- Verge Genomics Announces Positive Safety and Tolerability Data from the Phase 1 Clinical Trial of VRG50635, a Potential Best-in-Class Therapeutic for All Forms of ALS Read more
- DEM BioPharma Appoints Wendy Young, Ph.D., to Scientific Advisory Board Read more
- Confo Therapeutics Enters into Research Collaboration for GPCR-Targeting Antibody Discovery with AbCellera Read more
- Vyriad Announces Expansion of T-Cell Lymphoma Trial at Mayo Clinic Read more