Munich, Germany, December 20, 2021 – Orbit Health, a Germany-based digital health startup, today announced a €1 million investment from MedTech Entrepreneurs (MTE) to accelerate growth. After winning EIT Health’s Wild Card Challenge last year, Orbit further gained support from the BioInnovation Institute Foundation (BII) and industry advisors. With MTE’s latest investment, Orbit achieved €4 million in total funding to accelerate the venture’s development towards its goal to personalize care for Parkinson’s Disease and other chronic diseases through breakthrough digital health innovation.
Over 10 million people are living with Parkinson’s today, yet each and every one of them experience different symptoms and respond to treatment differently. Orbit Health’s flagship solution ‘Neptune’ helps maximize symptom control for Parkinson’s patients. It harnesses the power of AI and utilizes only a smartwatch to enable personalized treatment, which is pressingly needed in ongoing Parkinson’s care.
“The future of healthcare is digital, especially in the rapidly growing chronic disease space. This is why MTE focuses on investing in promising MedTech and digital health startups and setting them up for success with our tremendous industry expertise and extensive network,” said Dominik Moll, Managing Partner of MTE. “We are excited to invest in Orbit. With their strong team, a clear focus, and excellent product-market fit, Orbit not only strengthens our portfolio, but also enhances our capacity to support high-potential HealthTech startups with their mission to transform healthcare.”
To further deliver comprehensive patient insights and address the increasing threat of multiple chronic diseases, Orbit is enriching its solution by bringing together hundreds of relevant health and wellness data points including insights from common monitoring solutions such as blood pressure monitoring systems and glucose meters from siloed environments and integrating them with medical-grade, clinically validated digital health tools. The aim is to streamline the adoption and orchestration of novel digital health solutions and integrate them into the routine clinical workflows to achieve holistic patient care and real impact.
“We are excited to further strengthen Orbit with MTE’s support and be part of their vibrant ecosystem. ‘Neptune’ is a great example of how chronic diseases can be managed today and in the future. It not only offers healthcare professionals the necessary insights to effectively personalize treatments and deliver timely interventions, but it also empowers patients to take better control of their conditions and to live life confidently,” said Patty Lee, CEO & Co-founder of Orbit Health. “We see remote personalized care powered by digital health and biomarker solutions as a way forward for chronic care because every patient is different, and a 24/7 condition deserves a 24/7 solution.”
“At least one in three adults today has more than one chronic disease. Physicians are currently relying on only a snapshot of information to make treatment decisions. This makes the personalization of long-term care a huge challenge,” said Werner Boeing, former CIO of Roche Diagnostics and current CEO & Co-founder of Evisory and Orbit Health advisor. “Digital biomarker solutions like Orbit’s Neptune can be the new pillar of diagnostics to address chronic disease burden and the ever-changing healthcare demand. I am extremely happy to see the progress Orbit has made thus far and look forward to continue to support them in their exciting journey ahead.”
About Orbit Health
Headquartered in Munich, Germany, Orbit’s vision is to truly enable early intervention and cost-effective management of chronic conditions by offering breakthrough digital health solutions that are integrated into the routine clinical workflow to enable physicians to tailor and optimize care and empower patients to live their best possible life.
For more information, please visit www.orbit.health
MedTech Entrepreneurs is a unique early-stage VC fund managed by a team of experienced healthcare executives which helps pre-Seed and Seed stage MedTech startups minimize early-stage risk by providing founder-friendly capital, assistance with regulatory approvals and reimbursement applications, integrated milestone management and access to a global network of KOLs and decision makers necessary for successful commercialization.
For more information, visit: www.mte.vc
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