Alex Therapeutics raises €3.5m in oversubscribed funding round from leading venture capital investors to advance its expansion in Europe and the United States.
STOCKHOLM, April 6, 2022 /PRNewswire/ — stockholmDigital Therapeutics (DTx)-based company Alex Therapeutics announces today that it has been awarded a €3.5M funding round, led by European life sciences venture capital fund Hadean Ventures and joined by Scale Capital and Bonit Capital.
Alex Therapeutics aspires to be the go-to global partner for pharmaceutical and other life science companies looking to develop and launch DTx solutions. These digital health products are validated in clinical trials and prescribed by a doctor, just like traditional therapies. This round of financing will be used to accelerate Alex’s growth in Europe and in the United States and to develop new DTx products alongside new and existing partners, including Pfizer.
The round was led by Hadean Ventures, a European life sciences venture capital fund, with participation from Scale Capital and Bonit Capital, the family office of Leksell (founder of medical device company Elekta) . The new investors bring interdisciplinary expertise in successfully developing medical devices and scaling global B2B technology platforms. Existing investors, the founders of King (Candy Crush) through their Sweet Studio fund, also participated in the round.
Alex Therapeutics uses its AI-powered digital therapeutic platform “Alex DTx Platform” to develop and launch digital prescription therapies, usually in partnership with pharmaceutical companies. DTx products are clinically validated and approved medical devices, prescribed by physicians and reimbursed by healthcare systems. The platform combines evidence-based psychology, primarily cognitive behavioral therapy (CBT), with AI and machine learning to deliver personalized treatments that meet the needs of patients around the world.
We are overwhelmed with interest from the investment community and are excited to welcome some amazing institutional investors to join us as we take the next big step with Alex. We look forward to learning from their many years of experience developing medical devices and scaling Nordic technology platforms internationally. They are a perfect complement to our current investors, who have a unique perspective on creating compelling consumer technology.
John Drakenberg Renanderco-founder and CEO of Alex Therapeutics
We have been following the digital therapeutic space for a long time and now see major markets such as Germany and the United States is opening up to the prescription and reimbursement of digital therapies. Alex Therapeutics’ impressive track record, dedication to developing treatments with and for patients, combined with their use of cutting-edge technologies, make them an attractive partner for companies looking to launch digital therapies.
dr. Ingrid Teigland AkayMD, MBA, Managing Partner at Hadean Ventures
Alex Therapeutics’ journey has been incredible and we’re proud to have supported him from day one. Looking back, it’s amazing what John, Oliver and their team have accomplished in such a short time. With partners like Pfizer, and now institutional investors with a strong track record in life sciences and international expansion, there’s no limit to what they can do.
Anders FrostensonFounder & MD at Sweet Studio (King Founders Fund/Candy Crush)
Strategic business partnership announced with Pfizer earlier this year
Alex Therapeutics recently announced a strategic commercial partnership with global pharmaceutical company Pfizer. The initial focus of the partnership is a digital therapy called Eila® treating nicotine addiction.
+46 70-822 11 57
Uplandsgatan 7, 11123 Stockholm, Sweden
E-mail: [email protected]
About Alex Therapeutics
Alex Therapeutics is a digital therapy (DTx) company based in stockholm which designs and develops Software-as-a-Medical-Devices (SaMDs). With the proven “Alex DTx Platform”, evidence-based expertise in artificial intelligence and psychology, Alex Therapeutics is uniquely positioned to deliver cutting-edge and reliable DTx products. The company has treated tens of thousands of patients, has a track record of clinical validation and overwhelmingly positive patient testimonials. For more information, visit www.alextherapeutics.com or follow us on LinkedIn.
About Hadean Ventures
Hadean Ventures is a European life sciences venture capital fund manager with c. €200 million in assets under management. Hadean Ventures has offices in Oslo, Norwayand Stockholm, Swedenas well as a presence in Germany, Austria and the UK. Hadean invests across all verticals and across all stages of healthcare, with a focus on pharmaceuticals and biotech, medical devices, diagnostics and digital health. With a local European presence in regions that regularly produce world-class science, but have historically been under-exploited, Hadean seeks to find the best opportunities with the flexibility to invest in big ideas, regardless of vertical.
About Scale Capital
Capital Scale is an early-stage venture capital fund that invests in digitalization and disruptive technologies within business-to-business commerce. Scale Capital primarily invests in companies in the Nordic region with the potential and ambition to win in the US market. We are focused on creating impact through technology that creates positive change for the planet and people’s lives. We have our head office at Copenhagen and have offices at new York and Silicon Valley.
About Bonit Capital
Bonit Capital is a family-owned investment company in the life sciences and healthcare sector. Situated at stockholmBonit takes an active ownership approach by providing capital, industry expertise and access to an international network – focusing on the areas of digital health, medical technology, diagnostics and population health.
For more information, please visit: https://bonitcapital.com
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SOURCE Alex Therapeutics