Hygeia in Livonia, a digital therapeutics company for insulin therapy, is extending its Series B funding round to $22 million with a lead investment from Firstime Ventures of Israel and additional investment from two strategic partners.
Hygieia is the maker of d-Nav, the only FDA-cleared technology to autonomously adjust insulin dose recommendations to correspond to a patient’s changing insulin needs, providing people who inject their insulin with a closed-loop system functionality.
Patients get the correct insulin dose at each injection, without the need for physician intervention. Studies have shown that nearly 90 percent of d-Nav patients have improved A1C levels within 90 days, without increasing the risk for hypoglycemia.
“This is a validation of our d-Nav Technology and its potential to expand the availability of closed-loop functionality for those who inject insulin, which is 90 percent of insulin users,” says Eran Bashan, co-founder and CEO of Hygieia.
With the recent caps on insulin co-pays, there has been good progress in reducing the cost barrier for insulin therapy. With d-Nav, dose is not a barrier either. Because the d-Nav Technology autonomously adjusts insulin dose recommendations at the time of injection, patients get the right dose without the need for weekly visits to a physician.
“More than 8 million Americans use insulin to treat their diabetes. This additional investment enables us to explore additional ways to bring d-Nav Technology to more insulin users, for safe, effective insulin therapy,” says Bashan.
Hygieia states it is building the nation’s leading network of diabetes care centers driven by the d-Nav technology. Hygieia’s d-Nav clinical partnership program for endocrinology practices treating patients with type 2 diabetes is now in Michigan, Texas, Arizona, and North Carolina, with more states available soon.
The program seamlessly fits into endocrinology practice operations to improve patient outcomes while providing an added revenue stream.
