Minze Health, a pioneer in digital health solutions for urology, announced it raised $5.3 million in a funding round led by its existing investors White Fund, Capricorn Digital Growth Fund, and the Flemish investment company PMV. This funding round also saw the participation of a new investor, imec.istart future fund, marking a significant step forward for the company’s growth and innovation.
The proceeds from the funding will be used to develop further and bring Prescription Digital Therapeutics (PDTs) to market for patients with urinary dysfunctions, with an initial focus on Germany and France. Minze’s at-home diagnostic solutions will also drive US market entry.
Minze Health’s solutions for urinary dysfunction and incontinence have been used by over 160,000 patients worldwide and are trusted by clinicians in 20+ countries. With a range of Digital Diagnostics, Remote Patient Monitoring, and Digital Therapeutics products, Minze Health is the leading digital health player in the urology market.
The funding round proceeds will be utilized to drive the utilization of Minze Health’s Homeflow and Diary Pod products in the US. Homeflow is an at-home uroflowmetry system of which the use can be charged under recently introduced Category III CPT billing codes. These reimbursement codes provide a significant opportunity to serve patients with benign prostatic hyperplasia (BPH) and similar conditions. Home uroflowmetry provides substantial benefits for managing BPH, which affects over 14 million men in the United States. This non-invasive solution enables patients to monitor urinary flow at home and gives clinicians continuous data to develop personalized treatment plans. It reduces the need for frequent clinic visits and empowers patients to manage their symptoms more effectively, enabling for earlier detection and timely interventions.
To implement the ambitious plans in the US, Minze Health is pleased to announce the appointment of Drew Moore as Vice President Marketing & Sales. With over 20 years of experience successfully bringing innovative digital healthcare and medical device products to market, particularly in the urology sector, Drew’s leadership will be instrumental in Minze Health’s growth. Plus, his expertise and experience will be key in establishing Minze Health’s US office and building a strong team to support the company’s growth and market presence in the coming months.
Minze Health also plans to utilize the funds to bring to market Prescription Digital Therapeutics (PDTs) (app-based treatments) for patients with lower urinary tract symptoms (LUTS), with an initial focus on Germany and France, taking advantage of the DIGA and PECAN reimbursement schemes. Prescription Digital Therapeutics represents a rapidly expanding market driven by technological advances and the increasing need for personalized, non-invasive treatment options. These digital therapies, clinically validated and delivered via mobile apps, are gaining momentum across various medical fields.
Urological conditions like lower urinary tract symptoms (LUTS) or overactive bladder (OAB) are particularly well-suited for PDTs, as these therapies can address not only the physiological aspects of the conditions but also lifestyle and behavioral factors through cognitive interventions. By empowering patients to manage their symptoms remotely and efficiently, PDTs can potentially transform the treatment landscape for urological disorders, offering an innovative approach that improves patient outcomes while reducing healthcare costs.
KEY QUOTES:
“We are proud to further support Minze as they expand internationally. Their innovative solutions, such as Homeflow, address critical gaps in patient care and have the potential to significantly improve outcomes for millions of patients globally. We strongly believe in their vision and the impact they are making in the field of urology.”
-Philippe Stas, Executive Committee Member at White Fund
“As an alumnus of the Imec.Istart program, Minze Health has demonstrated remarkable progress and innovation in digital health. We are thrilled to now support their journey as they expand in the U.S. market with groundbreaking products like Homeflow. Minze’s commitment to addressing unmet needs in urology aligns with our vision of investing in companies that drive impactful change through technological innovation. We look forward to being part of their continued success and international growth.”
-Ruth Janssens, Managing Partner at imec.istart future fund
“We are incredibly grateful for the continued support of our existing investors and excited to welcome Imec.Istart Future Fund to the Minze family. Their belief in our vision is a testament to the tremendous potential of our digital health solutions. With this funding, we are poised to expand internationally and bring new and innovative products to the urology market. Our mission is to improve the quality of life for millions of people with typical LUTS conditions such as BPH and OAB. This investment will help us enormously.”
-Wilfried Woesthuis, CEO at Minze Health
