PhysIQ, a provider developing solutions that leverage artificial intelligence (AI) to empower digital health for ambulatory patient monitoring and clinical trial support has raised $8 million in Series B funding led by 4490 Ventures. The round also includes participation from Global Health Sciences (GHS) Fund through Quark Venture Inc. and GF Securities, along with existing investor LionBird and others.
The company plans to utilize the latest round of funding to support of the commercial launch of the physIQ VitaLink solution, an end-to-end solution which includes the physIQ software platform and AI analytics suite, third-party wearable biosensors, a mobile Android device for secure patient data transmission, and clinician user interface. As a data- and device-agnostic platform, it can accommodate any Bluetooth-enabled biosensor and has been engineered to be massively scalable and capable of continuously monitoring tens of thousands of patients at a time. The condition-agnostic personalized analytics solution is being studied and evaluated across multiple clinical use cases (e.g. post-acute skilled nursing, home health and clinical trials) and patient populations (e.g. heart failure, COPD, oncology and chronic pain).
As healthcare payment models drive care from the hospital to the community, technology will play a major role in enabling new clinical workflows. Founded in 2013, physIQ collects continuous physiological patient data from wearable and implantable sensors and applies AI technology to transform this data into personalized patient insight. The FDA 510k-cleared data analytics platform is designed to process multiple vital signs from wearable sensors to create a personalized dynamic baseline for each individual.
By mapping vital sign relationships this way, physIQ’s analytics detect subtle deviations that may be a precursor to disease exacerbation or change in health and warrant clinical attention. With apps in both healthcare delivery and clinical trial support, physIQ is transforming continuous physiological data into insight for providers, health systems, payers, and pharmaceutical and medical device companies.
“Market reception to our transformational VitaLink solution confirms we have entered a new era of health care…one where continuous real world data and personalized analytics are generating unprecedented patient insight. PhysIQ’s proprietary AI-enabled technology detects subtle, yet significant, changes in physiological parameters, thereby allowing healthcare enterprises to proactively manage patients to mitigate the costs associated with readmissions, inadequate therapies, non-adherent patients and other clinical events in commercial, government and clinical trial settings. As we scale to meet demand for our game-changing healthcare solution, we enthusiastically welcome our new financial partners 4490 Ventures and Quark Venture/GF Securities,” said Gary Conkright, physIQ CEO, Director and Founder in a statement.