ZappRx, a Boston, MA-based provider of specialty pharmaceutical management platform has raised $25 million in Series B funding led by Qiming US Healthcare Fund. The round includes participation from SR One, who led ZappRx’s Series A round in 2014, and GV (formerly Google Ventures). The company plans to utilize to expand its product’s launch into this growing market in dire need of innovative IT solutions.
Founded in 2012, ZappRx relieves administrative challenges for healthcare providers and specialty pharmacists who manage the care of patients requiring specialty medications. The cloud-based platform streamlines what is currently a multi-step, manual prescribing process, often involving multiple platforms for each of several treatments, into a single, digitally-enabled format. This allows providers who treat complex conditions in categories like oncology, pulmonology, rheumatology, neurology and gastroenterology to focus more on patient care and less on the paperwork required for getting patients on therapy.
In addition to greatly reducing the workload for providers, payers, pharmacists, and patients, there is a significant unmet need for rich, real-time data for specialty biopharma companies. ZappRx believes that its platform could enable new insights for biopharmas based on real-time longitudinal and disease area data capture.
The ZappRx platform is currently being used in several prominent academic medical centers and large multi-specialty practices in the US.
“ZappRx has created a unified platform that we believe will dramatically transform the ecosystem experience around specialty drugs to benefit providers, payers, pharmacists, patients, and biopharma manufacturers,” said Mark McDade, Managing Partner at Qiming US.
