Digital Therapeutics Startup Swing Therapeutics has raised funding rounds for a $ 10.3 million series led by Jazz Venture Partners.
Other participants in the raise include Alumni Ventures, AME Cloud Ventures, Asahi Kasei Corporate Ventures, Gainzels, Kicker Ventures, Mana Ventures and Metrodora Ventures. Swing Therapeutics was founded in 2019 and launched with $ 9 million seed funding.
What do they do?
Swing focuses on creating and testing a digital therapeutic for fibromyalgia, which causes widespread muscular pain as well as fatigue, sleep, memory and mood problems.
In August, the startup announced that it had received Named the FDA Breakthrough Device for Smartphone-Managed Therapeutics, a 12-week program using Acceptance and Commitment Therapy (ACT), a type of cognitive behavioral therapy, to help patients understand and manage their symptoms.
Plans to use Series A to support the swing The PROSPER-FM randomized clinical trial studies the effectiveness of its digital ACT program and its symptom tracker. It will use the funds to open an approved telemedicine clinic.
“People with fibromyalgia have limited treatment options and behavioral therapy and other non-pharmacological approaches are often not easily accessible,” said Dr. Leslie Arnold, chief investigator of the PROSPER-FM study. “I look forward to further evaluating how swing therapy can improve fibromyalgia management using a method that may be readily available to people with fibromyalgia, many of whom continue to meet treatment needs.”
Snapshots of the market
Another company in the digital therapeutic space, AppliedVR, uses cognitive behavioral therapy in virtual reality sessions to manage chronic pain. Startup received The FDA de Novo Clearance announced last year that it would use its VR system to treat chronic low-back pain, at the same time it announced the বি 36 million Series B.
Late last year, Digital Irritable Bowel Syndrome (IBS) care startup Metami Health Rehabilitation has received FDA 510 (k) clearance, a prescription digital therapeutic (PDT) that provides intestinal-directed hypnotherapy to relieve abdominal pain in adults related to IBS. The company recently partnered to bring PDT to market, long after raising $ 2.2 million.
Others that offer digital therapeutics include HappyPhysical Health, Peer Therapeutics, Big Health and Alex Therapeutics.