– Drugmaker Bayer leads One Drop’s $40M Series B funding round and enters commercial agreement to license One Drop’s digital diabetes management platform in its global bio-digital efforts in therapeutic areas.
– Bayer will leverage One Drop’s data science and predictive capabilities, and harness its mobile platform to deliver innovative bio-digital solutions across a broad array of therapeutic areas.
– One Drop provides personalized health programs to drive sustainable behavior change as part of a diabetes management plan.
One Drop, a New York City-based provider of digital therapeutic solutions for diabetes and other chronic conditions, today announced $40 million in Series B financing, led by drugmaker Bayer. The One Drop platform brings affordable, accessible diabetes care to everyone with diabetes and a smartphone, as well as their employers, insurers, and health care providers.
Impact of Inadequate Diabetes Care
In the current healthcare climate, nearly 4 billion people lack access to medical care. In the United States alone, more than 10% of the population lives without health insurance. Where medical intervention is available, access to treatment options is stratified by wealth and income inequality. As a result, the majority of low-income individuals have limited, if any, access to life-sustaining insulin, oral hypoglycemic agents, and other medications critical to gaining control of diabetes, including blood pressure and cholesterol medicines. According to research, worldwide losses in GDP from 2011 to 2030, including direct and indirect costs of diabetes totaled $1.7 trillion dollars.
Automated Decision Support: One Drop Can Predict Blood Glucose
Founded in 2015, One Drop’s integrated platform offers an easy and effective way for people to track and manage a variety of health conditions. With A.I.-powered behavioral recommendations, dedicated one-on-one coaching recognized by the American Diabetes Association, and thousands of app and device integrations, One Drop provides personalized health programs to drive sustainable behavior change as part of a diabetes management plan.
One Drop’s efficacy has been established in more than 20 peer-reviewed studies, which show that people with diabetes using One Drop decreased their A1c (average blood glucose levels) in as little as one month. Ninety-two percent of people using One Drop’s AI-powered Predictive Insights report that they find the information helpful in their diabetes management.
Through industry-leading integrations, One Drop has become one of the fastest-growing diabetes management solutions worldwide, used by nearly 1.5 million people in 195 countries. The One Drop app supports HealthKit, CareKit, Health Records, and Siri Shortcuts on iPhone, supports Google Fit on Android and integrates directly with Fitbit and Dexcom on both iPhone and Android devices.
Bayer to License One-Drop’s Platform In Its Global Bio-Digital Efforts
In addition to leading One Drop’s Series B funding round, Bayer has also entered a commercial licensing agreement to use One Drop’s platform in Bayer’s global bio-digital efforts in therapeutic areas such as oncology, cardiovascular disease, and women’s health. Through the new licensing agreement, Bayer will leverage One Drop’s data science and predictive capabilities, and harness its mobile platform to deliver innovative bio-digital solutions across a broad array of therapeutic areas. Stefan Oelrich, the President of Bayer Pharmaceuticals will also join One Drop’s Board of Directors.
“As part of our strategy to shape the future of healthcare and build new businesses in digital health, we are investing in integrated digital solutions to improve health outcomes through data-driven solutions”, said Stefan Oelrich, Member of the Board of Management of Bayer AG and President Pharmaceuticals. “This collaboration allows us to obtain access to a world-leading self-care platform for disease management beyond the boundaries of medicines with strong artificial intelligence-driven capabilities that could lead to better healthcare outcomes for people with chronic conditions.”
Series B Funding & Bayer Partnership Impact for One-Drop
“With today’s global digital infrastructure, there should be nothing that prevents us from delivering quality care to everyone who needs it. One Drop is leveraging this infrastructure to provide evidence-based, hyper-personalized diabetes support to millions of people each day,” said Jeff Dachis, One Drop Founder and CEO. “As a new investor and commercial partner, Bayer is validating One Drop’s superior user experience, modular and extensible product offering, and ability to bring affordable, accessible healthcare to millions of people worldwide.”
