Propeller Health is set to develop a new platform for digital medicine after raising $20 million in a recent funding round.
The funding round was led by Aptar Pharma, a drug delivery systems company based in Illinois with manufacturing facilities worldwide. Aptar and Propeller are collaborating on a platform to be used in developing digital medicines for multiple disease areas.
Other investors in the round include Safeguard Scientifics, Social Capital, Hikma, SR One and Milwaukee-based 3M Ventures. Aptar invested $10 million.
Proceeds from the round will support the development of this platform, as well as other products from Propeller aimed at treating chronic respiratory disease. The Madison-based company has operations in 16 countries, and plans to keep growing.
“Today marks a major step forward for our company,” said David Van Sickle, co-founder and CEO of Propeller Health. “We now have the foundation in place to bring the benefits of digital medicines to many new conditions.” Read the full story here.