Biofourmis CEO discusses about upcoming plans for improving digital healthcare worldwide using technology and data intelligence.
On 2nd October 2019, Biofourmis, a Boston-based company rapidly rising to become the global leader in digital therapeutics, was given a placing in CB Insights’ Digital Health 150 ranking. This comprises of 150 high potential companies which are supported by over 850 investors. These companies are from countries all around the world, such as Canada, China, Israel, the United States and the United Kingdom.
At the Future of Health conference held on 2nd and 3rd October, Kuldeep Singh Rajput, CEO and founder of Biofourmis, shared, “Biofourmis’ inclusion in this ranking not only represents our company’s accomplishments, it also signals the important role digital therapeutics is playing for providers, managed care and pharma—and how Biofourmis’ AI-powered, clinically validated Biovitals™ ecosystem is demonstrating real-world value”.
He also mentioned that he was “looking forward to sharing the Biofourmis story with the business leaders and innovators who attend this prestigious event, where I will explain more about our BiovitalsHF™ platform for heart failure, as well as our range of solutions across therapeutic areas, including pain, oncology, sleep disorders and others in development.” The Future of Health conference is an even that brings together executives from a number of the world’s largest healthcare institutions, newly established healthcare businesses and investment firms.
The Digital Health 150 was chosen by researchers from CB Insights, who scrutinised hundreds of applications to make sure ranked companies have good patent activity, good work quality and high potential for further development of the company so that investors can make reliable investments, effective news sentiment analysis and high market potential. The research team at CB Insights also looked for companies with the ability to identify its competitors, the potential to engage in friendly collaborations, unity within its workers as well as skilled technology usage. They also consider state of the private companies now and their potential to grow so as to see if the company has a prospect for expansion and continuous improvement.
“From pharmaceuticals to patient care, technology is rapidly changing healthcare, and The Digital Health 150 showcases the 150 best start-ups spearheading innovation and change in the sector,” CB Insights CEO Anand Sanwal said. “It’s a privilege to use CB Insights’ data to identify and shine a light on these companies, and we look forward to tracking their success in 2019 and beyond.”
During the Future of Health conference, Rajput spoke about how digital forms of healthcare allow healthcare providers to recognise and practise appropriate measures to prevent medical events from occurring, and at the same time aid in the research and development of new products in pharmaceutical companies.
Rajput explained how Biofourmis’ BiovitalsTM platform receives physiologic information (that is almost real-time) via sensors and patient-reported data through an app that is installed in the patient’s smartphone. Biovitals then makes use of artificial intelligence and machine learning to gain insight on the correlation between the received physiological data and the patient’s daily activities. Data intelligence together with disease-specific care methods to equip physicians with information about the patient’s condition ensures that the patient can receive the optimal treatment and adapt well to the therapy. It also helps to ensure that the patient can make steady improvement in the disease. Not only so, this platform also notifies healthcare providers when the patient’s vital signs are abnormal, as well as warn the healthcare givers up to two weeks before a medical event occurs so that they have sufficient time to take appropriate measures to prevent it from happening. This thus allows pharmaceutical companies to showcase the benefits of pharmacotherapy, which is important to value-based care payment agreements and drug research and production.
Currently, Biovitals is being used for an FDA government–funded heart failure research in collaboration with Yale University-Mayo Clinic Centre of Excellence in Regulatory Science and Innovation (CERSI). The research leverages BiovitalsHF to study the physiologic data of heart failure patients who have just been released from the hospital. This allows them to review the patient’s cardiovascular fitness and the standard of their everyday lives through automated remote data collection and patient-reported data and hence, figure out personalised treatment methods which could increase the speed of drug approval. This will benefit diseases that focus on the standards of life, instead of reduction of hospitalization and mortality rates, as the treatment goals.
“Real-world evidence continues to mount showing how digital therapeutics such as Biovitals™ help stakeholders to efficiently deliver the type of care and develop the solutions that are increasingly required to thrive in a value-based care environment,” Rajput said. [APBN]