Digital health startup Orbit Health joins The BioInnovation Institute Foundation’s (BII) Creation House with 10M DKK (1.3M EUR) in funding. Joining Creation House is an important step towards achieving the company’s goal to enable optimal care for people with chronic conditions through breakthrough digital health innovation.
Orbit Health today announced that they have secured additional funding through The BioInnovation Institute Foundation’s (BII) Creation House to further advance the company’s breakthrough digital platform that enables physicians to easily adopt novel digital health solutions for chronic disease management.
Harnessing the power of sensor and AI technology, Orbit’s first solution, Neptune, uses only a smartwatch to enable treatment optimization to help people with Parkinson’s attain optimal symptom control and improve quality of life. Now with Orbit Lab, multiple digital health solutions can be orchestrated and applied to a single patient. Orbit brings these solutions from a siloed environment and integrates them into the routine clinical workflow to achieve holistic patient care and real impact.
“Half the adult world population is suffering from chronic disease and one third has multiple chronic diseases. The number is expected to continue to rise which seriously challenges healthcare sustainability. For this reason, many countries are looking to move chronic care to a digitally enabled proactive home-care model – a move which will require new digital solutions that enable physicians to perform remote monitoring and interventions on an individual level. Orbit is committed to playing a central role in future management of chronic diseases, instilling in patients, caregivers, and doctors a confidence that is both empowering and sustainable. After winning EIT Health’s Wild Card challenge last year, joining Creation House is another important step towards achieving our mission,” says Patty Lee, CEO and co-founder of Orbit.
The BioInnovation Institute Foundation, an international non-profit foundation supported by the Novo Nordisk Foundation, operates as an incubator to accelerate world-class life science innovation.
Creation House is targeting companies with a solid, initial business plan and the purpose of the 18-months long program is to build a case that can attract substantial funding making Orbit an obvious candidate.
“The lack of accurate insight into a patient’s status between follow up visits is a tremendous issue in healthcare, particularly when it comes to chronic diseases like Parkinson’s Disease where a patient is followed for years, and the physicians get a view on how a patient is doing only during doctor’s visits that take place once every 3-6 months. We believe that the experienced Orbit Health team not only holds a strong grasp of the issue but also the capability to build solutions that meet the needs of the diverse stakeholder groups in healthcare. Orbit Health has already created a solid foundation towards helping Parkinson’s Disease patients, and BII is very excited to be supporting Orbit Health on its journey,” says Tony Cheng-fu Chang, Senior Business Developer at BII.
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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.
Orbit Digital Health Lab is a centralized digital platform that streamlines the clinical adoption of multiple digital health tools — integrating them into the current clinical workflow to benefit patients and make real impact. This allows for early participation in the patient journey, encourages patients to take ownership of their health, and shifts the chronic disease paradigm from a reactive to a proactive approach.
Neptune is a smartwatch-agnostic AI solution that enables personalized treatment of Parkinson’s disease. Neptune generates continuous and objective motor symptom insights, allowing doctors to personalize treatments for patients with Parkinson’s to maximize symptom control and time spent in optimal therapeutic state.
Patty Lee, CEO and co-founder of Orbit Health, is an entrepreneur and has more than 15 years of experience in the pharmaceutical and diagnostics industries. Prior to becoming an entrepreneur, Lee was a global executive at Roche Diagnostics in Basel, Switzerland. She graduated from the University of Toronto with an Honours Bachelor of Science and earned an MBA from Schulich School of Business, York University in Toronto, Canada. Lee has worked and led teams in North America, Europe, and Asia.
Franz MJ Pfister, co-founder of Orbit Health, is an entrepreneur, physician and Data Scientist. A leading expert at the intersection of Healthcare, Technology and AI, Pfister’s academic career includes medical studies at Ludwig-Maximilians-University (LMU) Munich and the Harvard Medical School with a Ph.D. in neuroscience. He holds an MBA from Munich Business School and a Master in Data Science from LMU Munich. Pfister is currently leading several initiatives and is building companies in the health AI space that are developing next-generation solutions to improve patient care and enable personalized medicine.
About The BioInnovation Institute Foundation
The BioInnovation Institute Foundation (BII) is an international non-profit foundation supported by the Novo Nordisk Foundation. BII operates an incubator to accelerate world-class life science innovation that drives the development of new solutions by early-stage life science start-ups for the benefit of people and society.
With continued positive development, The Novo Nordisk Foundation can provide up to EUR 470 million to BII over 10 years to support early-stage life science projects and start-ups for the benefit of people and society.
Since the inauguration of BII in November 2018, BII has awarded 35 million euros to 68 high-growth start-up companies.
For more information, please visit www.bii.dk