Digital therapeutics company Propeller Health raised $20 million in a funding round led by Aptar Pharma, with participation from existing investors Safeguard Scientifics, Social Capital, Hikma Ventures, 3M Ventures, and SR One.
The Propeller platform is designed to enable medical technology and pharmaceutical companies to conceptualize, develop, and commercialize digital medicines. The company also offers distribution at scale through the Propeller Provider Network and leading payers, pharmacies, and PBMs such as Express Scripts. In addition to supporting self-management and clinical care and treatment, Propeller works with industry experts and regulators to advance clinical research, real-world evidence, and endpoint design and validation.
Propeller plans to use the funds to further invest in its chronic respiratory disease digital therapeutics and connected devices, and will also begin to develop digital medicines for new therapeutic areas.