HOUSTON, May 4, 2020 /PRNewswire/ -- Altoida Inc., a
predictive digital biomarker company, today announced it has
secured financing from Hikma Ventures, the venture capital arm of
Hikma Pharmaceuticals PLC.
The financing comes at a time of rapid growth for Altoida, as
the company's -FDA cleared and CE Mark-approved medical device and
brain health data platform is being used by researchers, patients
and physicians across the globe to detect Alzheimer's Disease (AD)
up to ten years prior to onset. The additional financing will be
used to further expand Altoida's presence in the US, Japan, Europe
and Brazil and follows the
company's $6.3 million Series A round
that closed early 2019.
"Hikma Ventures is a highly reputable venture capital firm, and
we share a common vision of putting better health within reach for
millions of people across the globe," said Dr. Richard Fischer, President & CEO of Altoida
Inc. "Their investment in Altoida during these unprecedented
times is a testament to their belief in the strength of our company
and the value of our digital health technology. Hikma Ventures is
the perfect addition to our investor syndicate and an important
partner as we continue to execute on our clearly defined
commercialization strategy."
Altoida leverages predictive digital biomarkers to drive better
clinical outcomes for brain disease. By leveraging the latest
advancements in Artificial Intelligence (AI), Machine Learning (ML)
and Augmented Reality (AR), Altoida collects functional and
cognitive biomarkers to help detect Mild Cognitive Impairment (MCI)
due to Alzheimer's disease prior to its onset - with up to 94%
accuracy. Now healthcare professionals have a novel way to
objectively assess cognitive and everyday functions, in the most
ecologically valid way.
Using Smart Device sensors, Altoida analyzes visuospatial and
executive function during complex activities of daily living by
asking patients to hide and seek virtual objects in a physical
space. Altoida is able to detect "micro-errors" as both a
prognostic and diagnostic digital biomarker, allowing medical
professionals to detect Alzheimer's disease in patients 62+ years
old between six and ten years prior to the onset of symptoms - and
before irreversible damage occurs. The company has validated
its platform and methodology in more than 12 peer-reviewed journal
publications and in more than 200 independent studies.
"We are excited to invest in Altoida and their digital health
technology, which is helping patients and healthcare providers by
reinventing digital biomarkers to drive better clinical outcomes
for brain disease," said Lana
Ghanem, Managing Director of Hikma Ventures. "This is the
latest example of Hikma Ventures commitment to supporting
innovative companies utilizing machine learning and other
cutting-edge technologies to meaningfully improve patients'
lives."
About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC:
HKMPY), (rated Ba1/stable Moody's and BB+/positive S&P)
Hikma helps put better health within reach every day for
millions of people in more than 50 countries around the
world. For more than 40 years, the company has been creating
high-quality medicines and making them accessible to the people who
need them. Headquartered in the UK, Hikma is a global company
with a local presence across the United States (US),
the Middle East and North Africa (MENA)
and Europe, and they use their unique insight and expertise to
transform cutting-edge science into innovative solutions that
transform people's lives. Hikma is committed to their
customers, and the people they care for, and by thinking creatively
and acting practically, they provide them with a broad range of
branded and non-branded generic medicines. Together, Hikma's
8,400 colleagues are helping to shape a healthier world that
enriches all our communities. The company is a leading
licensing partner, and through its venture capital arm, is helping
bring innovative health technologies to people around the
world. For more information, please
visit www.hikma.com.
About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the
corporate venture capital arm of Hikma Pharmaceuticals. Hikma
Ventures invests in global start-ups where Hikma's expertise can
accelerate revenue growth and enhance value creation by providing
ventures with access to the resources of a multinational
pharmaceutical company.
For more information, please visit www.hikmaventures.com.
About Altoida Inc.
Altoida Inc. is a health technology
firm that uses active digital biomarkers and cutting-edge
technology in Artificial Intelligence (AI) and Augmented Reality
(AR) to classify patients' risk of Mild Cognitive Impairment (MCI)
due to Alzheimer's Disease (AD) and drive better clinical outcomes
for brain diseases. Led by an international team of esteemed
neuroscientists, computer scientists and medical business
professionals, the company offers an FDA-cleared and CE
Mark-approved medical device and brain health data platform to
support early detection of Alzheimer's disease up to ten years
prior to onset – with up to 94% accuracy. The company is privately
held and supported by the current investor syndicate of M-Ventures
(lead investor), GreySky Venture Partners, FYRFLY, VI Partners.
Altoida has offices in Houston,
San Diego, and Lucerne, Switzerland. For more information, please
visit www.altoida.com and follow us on LinkedIn
https://www.linkedin.com/company/altoida.
Investor
Enquiries
|
|
Hikma
Ventures
|
|
Lana
Ghanem
|
lana@hikmaventures.com
|
Managing Director,
Hikma Ventures
|
+962 6 580
3100
|
|
|
Media
Enquiries
|
|
Hikma
Pharmaceuticals PLC
|
|
Steve
Weiss
|
+1 732 720 2830/ +1
732 788 8279
|
David
Belian
|
+1 732 720 2814/+1
848 254 4875
|
US Communications and
Public Affairs
|
uscommunications@hikma.com
|
|
|
Altoida,
Inc.
|
|
Emily Brady,
BPR
|
emily@bradypr.com
|
|
+1 415 606
9350
|
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SOURCE Altoida Inc.