Holmusk, a digital health company focused on improving the outcomes for people suffering from chronic diseases, raised $9.75m in pre-series A round of financing. The round of financing, which was backed by the Heritas Venture Fund among others, is intended to aid the startup's expantion into the US and European markets.
Holmusk partners with pharmaceutical and healthcare providers, leveraging their data and its technology to accelerate research into chronic diseases. It has also created a digital health platform to help encourage patient engagement.
Through the data it accrues, it constructs predictive algorithms on its proprietary modelling platform, which then produces actionable insights for personalized medical plans for its patients.
"Its approach of combining deep analytics with clinical research and real-world data is promising," commented Chik Wai Chiew, CEO of Heritas Capital Management. "We are pleased to see the company on track to build upon the successes of GlycoLeap and SuperLeap and develop next-generation versions in 2019."
Holmusk also acquired behavioral EHR called MindLinc in 2016 to help expand its assets in behavioral health. With this acquisition, Holmusk now possesses one of the largest behavioral databases in the world and will aim to utilize "deep-learning neural networks and quantitative systems pharmacology" to develop MindLinc 2.0, which it hopes will be capable of "predictive disease modelling based on longitudinal patient data".
Following the latest funding round, Holmusk board chairman Kenneth Ng said: "Holmusk's technology platforms for behavioral health and chronic diseases have global application and we are excited about our expansion into the US and Europe.
"We look forward to sustaining the momentum as we grow our client base around the world," he added.