Biofourmis has signed an agreement to acquire digital therapeutics company Gaido Health from Takeda Pharmaceuticals for an undisclosed sum.
Part of Takeda Digital Ventures, Biofourmis is a Los Angeles-area based digital therapeutics company that mainly works on the oncology market.
Biofourmis CEO Kuldeep Singh Rajput said: “Biofourmis’ digital therapeutics solution for oncology—now bolstered with this acquisition of Gaido Health—is based on an innovative approach that continuously monitors patients’ physiology biomarkers and symptoms, detects early signs of complications, and arms care teams with tools to intervene early to prevent medical crises, improve outcomes and lower costs.”
With the support of Biofourmis’ existing Biovitals platform, Gaido Health’s solution will aggregate information on vital signs collected through remote monitoring in the home, patient surveys and analytics to identify early signs of complications in patients with cancer who were recently discharged from the hospital.
Gaido Health solution will be aggregated with Biovitals platform to regulate toxicities in patients undergoing CAR T-Cell therapy, a form of immunotherapy.
Gaido Health’s AI-based algorithms allow to better identify signs of complications
The AI-based algorithms, provided by Gaido Health, will help identify signs of complications to notify the clinician, allowing earlier interventions.
Oncology patients are sensitive to health issues such as infection and visiting healthcare facilities may increase their health risks, including potential exposure to the novel coronavirus.
The insights delivered by algorithms will enable clinicians to better monitor recently discharged oncology patients in their homes to avoid potential risks, as well as minimising costs and increasing patient satisfaction.
Gaido Health is said to complement Biofourmis’ existing digital therapeutics portfolio that is comprised of therapeutic areas such as heart failure, chronic pain and other cardiometabolic diseases.
Takeda Digital Ventures investments head Bruce Meadows said: “Gaido was founded in 2018 to create new tools that assist caregivers in monitoring patients undergoing chemotherapy, and we are very proud of what Gaido has achieved. Biofourmis will continue this vital work.”
In November 2019, Biofourmis agreed to acquire Switzerland-based Biovotion, a major developer of an advanced clinical-grade wearable biosensor platform.
