Series A financing round of 10 million EUR with new investors for the international expansion of German Digital Therapeutics (DTx) company Fosanis to broaden patient access to Mika – an app-based DTx platform
Lausanne/Berlin, May 9th, 2022 – Debiopharm Innovation Fund (www.debiopharm.com/digital-health/), the strategic digital health investment arm of Debiopharm, announced their co-investment in Fosanis, a Berlin-based digital health company developing Mika, Germany’s first prescription DTx across all oncology indications. The series A funding round of more than 10 million EUR includes existing shareholders such as Ananda Impact Ventures along with three new investors: lead investor Swiss company Debiopharm Innovation Fund, Ship2B Ventures from Spain and venture capital firm Equity Pitcher.
The investment will broaden the global patient reach of Mika, a personalized platform delivering evidence-based digital interventions to help cancer patients to better cope with the challenges of the disease and treatment process. The app combines AI-powered monitoring to track distress levels and symptoms along with a coaching section providing access to needed information through articles, videos and interactive courses. Mika has emerged as the leading oncological DTx platform in Germany, proving its value to cancer patients and the healthcare system in clinical trials showing statistical reductions in fatigue and psychological distress in a 12-week pilot study.
Debiopharm is an experienced investor in the digital health domain with a special focus on cancer. Tanja Dowe, CEO of Debiopharm Innovation Fund: “We are convinced that digital solutions can fill many critical gaps in healthcare and, especially with regards to cancer therapy support, provide tremendous relief for patients and attending physicians alike. Mika promotes patient empowerment and enables those affected to cope with their disease and therapy, independent of time and location. For this very reason, we do not only think of ourselves as mere investors, but we also support the company in strategy and execution and are proud to accompany Mika’s further growth.”
According to the World Health Organization (WHO), approximately 19.3 million people are diagnosed with cancer worldwide. “Cancer knows no boundaries. Helping people affected by cancer shouldn’t either“, says Mika Founder and Managing Director Dr Jan Simon Raue. “We have developed Mika to bring back some of the control when guidance and support is most needed: from diagnosis all the way through the therapy process. Our mission is to empower everyone affected by cancer. Knowing that every cancer patient is a human being with individual needs, Mika provides personalised and comprehensive cancer therapy support, combining the latest insights in cancer research with 24/7 hands-on help wrapped up in an easy-to-handle and engaging digital tool.“
The capital raised in this series A round will support Mika’s international expansion. While Fosanis reveals its plan to enter the UK healthcare ecosystem still in 2022, it also wants to partner with renowned international cancer research centres to conduct even more studies on the medical impact of AI-driven personalisation in digital interventions. Mika Co-Founder and Managing Director Dr Gandolf Finke:“The importance of digital health and digital therapeutics in particular is growing globally. This financing round marks an important milestone in our company history, allowing us to scale our oncology DTx platform and position our offerings internationally. We welcome our new investors on board and look forward to working closely with them to take Mika to new heights.”
Founded in 2017 by Dr Gandolf Finke and Dr Jan Simon Raue, the digital health company Fosanis GmbH pursues the objective of empowering people affected by cancer with the aid of digital technology. To this end, Fosanis GmbH has developed the AI-powered DTx Mika in collaboration with leading oncological research institutions and cancer centres such as the University of Leipzig Medical Center and Charité Berlin. An app-based platform with clinically proven efficacy, Mika became the first and hitherto only ‘digital health application’ (DiGA) approved for all cancer patients in 2021. Mika is a personalised digital therapeutic (DTx) platform in oncology. Accompanying people affected by cancer over the course of their disease and therapy, Mika combines AI-powered monitoring and coaching, including scientifically tested methods and therapy management techniques. Daily check-ups – so-called ePROs = electronic patient-reported outcomes – allow continuous tracking of distress levels and symptoms, while a personalised coaching programme provides scientifically validated multi-media elements and psycho-oncological interventions. These include over 800 rigorously validated articles, videos and coping skills training courses – ranging from nutrition recommendations to physical exercise training and mindfulness coaching.
About Debiopharm Innovation Fund
Debiopharm develops, manufactures and invests in innovative therapies and technologies that respond to high unmet medical needs in oncology and bacterial infections. Debiopharm Innovation Fund aims to provide strategic funding and guidance for companies with Smart Data & Digital Health solutions with the ambition to change the way drugs are developed and the way patients are treated. Our growing portfolio company achievements include 18 FDA clearances or CE marks and 2 IPOs along with 3 successful exits from mergers & acquisitions. Since 2018 Debiopharm has invested over USD 150 million, leading the investment rounds of 22 of the past 30 investments.
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