- OneDrop closes a $34.7 million Series C funding round led by Bayer along with $64 million in development fees and potential commercial milestone payments. These are the details.
One Drop — a leader in digital solutions for people living with diabetes and other chronic conditions — announced recently that it signed an agreement with Bayer to jointly develop digital health products for multiple therapeutic areas based on One Drop’s predictive, preventative, and personalized self-care platform. And OneDrop also closed on a $34.7 million Series C funding round led by Bayer as well as $64 million in development fees and potential commercial milestone payments.
This new agreement demonstrates Bayer’s commitment to its partnership with One Drop and the One Drop vision of data-powered, efficient, and personalized self-care as the future of chronic condition management. And One Drop’s solution is fueled by data, drawing on more than 13 billion diverse health data points from users who have downloaded One Drop over three million times.
This data-powered platform enables health predictions delivered through a user-centric experience that provides the right interventions at the right times. And while One Drop currently supports people in the management of diabetes, prediabetes, high blood pressure, high cholesterol, or any combination of these conditions, Bayer’s $64 million in development commitments and potential commercial milestones will help expand One Drop’s industry-leading solution into Bayer’s focus areas like cardiology, oncology, and women’s health.
Plus the modular architecture of One Drop’s solution will enable expansion into the new therapeutic areas. Instead of treating individual conditions, One Drop’s self-care experience will support all the conditions that an individual may be managing, delivering a whole-person approach that drives sustainable outcomes.
One Drop’s digital health platform has been available to consumers, employers, insurers, and healthcare providers since 2016. And its effectiveness has been confirmed by over 20 peer-reviewed studies demonstrating significant improvements in glycemic control among people living with diabetes in as little as one month.
And by focusing on the individual, One Drop’s intelligent solution bridges the final mile between healthcare and self-care by meeting the needs of stakeholders across the industry, ranging from the provider who desires improved patient care to the manufacturer who wants to maximize effectiveness and finally to the payers who seek to improve outcomes and lower healthcare costs.
KEY QUOTES:
“To deliver better health outcomes and cost savings at a population level, we must focus on individuals. One Drop delivers a personalized health transformation program that dynamically tunes to your needs and behaviors each day, empowering each individual to achieve the best possible health outcomes. In contrast, other platforms lacking our data wealth and predictive engine continue to focus on telemedicine and remote monitoring, reacting to problems that have already occurred and delivering a one-size-fits-all model that works for some, but fails for most.”
— One Drop CEO and founder Jeff Dachis
“Building new digital business models is a key element of our business strategy with the ambition to actively shape the future of healthcare. We are convinced that a data-driven approach will empower patients to drive better outcomes for themselves and will bring back the person, not the disease, as the point of focus. The new collaboration with One Drop allows Bayer to further accelerate its evolution towards a digital health business and paves the way for new integrated care patient service offerings.”
— Jeanne Kehren, PhD, Head of Digital & Commercial Innovation and Member of the Pharmaceuticals Executive Committee of Bayer AG
