Hygieia Raises $22M in Extended Series B Round to Expand Reach of Innovative Insulin Management
The digital therapeutics company aims to bring its FDA-cleared d-Nav® technology to more insulin users, transforming insulin therapy and diabetes care
Overview
Digital therapeutics pioneer Hygieia has announced the extension of its Series B funding round to $22 million, with Firstime Ventures leading the investment alongside two strategic partners. The company's groundbreaking d-Nav® technology is revolutionizing insulin therapy for millions of Americans living with diabetes.
d-Nav®: Autonomous Insulin Dose Adjustments for Improved Diabetes Management
Hygieia's d-Nav® is the only FDA-cleared technology capable of autonomously adjusting insulin dose recommendations according to patients' changing needs. This offers a closed-loop system functionality for people who inject insulin, ensuring that they receive the correct dosage without requiring physician intervention. In fact, studies have demonstrated that almost 90% of d-Nav users experience improved A1C levels within 90 days* without an increased risk of hypoglycemia**.
Breaking Down Barriers in Insulin Therapy
Hygieia CEO and co-founder Eran Bashan sees the recent investments as validation of d-Nav's potential to enhance accessibility for closed-loop functionality among insulin users, which currently accounts for 90% of all insulin users. With recent caps on insulin co-pays, cost barriers for insulin therapy have decreased, and d-Nav is working to eliminate dose barriers as well. By autonomously adjusting insulin doses during injections, d-Nav eliminates the need for weekly physician visits.
Expanding Access to d-Nav® Technology
The new funding will enable Hygieia to explore ways of bringing d-Nav technology to more insulin users, ensuring safe and effective insulin therapy. The company is developing a nationwide network of diabetes care centers driven by d-Nav technology. The d-Nav Clinical Partnership Program is currently available in Michigan, Texas, Arizona, and North Carolina, with plans to expand to other states soon.
Insurance Coverage for d-Nav® Insulin Management Program
The d-Nav insulin management program is covered by Medicare, most commercial health plans, and numerous Medicaid plans.
About Hygieia and the d-Nav Insulin Management Program
Hygieia is the developer of the first FDA-cleared technology to autonomously adjust insulin doses directly to the patient. The AI-powered d-Nav technology automatically interprets data and independently initiates insulin management. The program helps people with type 2 diabetes adjust their insulin doses according to their body's changing insulin needs. Nearly 90% of d-Nav users report lower A1C in just three months* without increasing the risk for hypoglycemia**. Source
Sources:
John E Schneider et al. Impact of a Novel Insulin Management Service on Non-insulin Pharmaceutical Expenses. J Health Econ Outcomes Res. 2018 Feb 20;6(1):53-62.