Prescription digital therapeutics startup MedRhythms has entered right into a licensing settlement with Biogen to develop and commercialize its MR-004 product, which goals to enhance mobility for individuals with a number of sclerosis (MS).
Below the deal, MedRhythms would obtain a $3 million upfront cost from Biogen, with the potential to earn up to $117.5 million if sure growth and industrial milestones are met. The startup can be eligible to obtain tiered royalties based mostly on gross sales.
The MR-004 therapeutic goals to deal with gait deficits, a mobility downside that happens with MS that may make it tough to stroll. In 2020, MedRhythms acquired FDA Breakthrough Device Designation for its product centered on persistent stroke strolling impairments. It makes use of sensors to measure how nicely a person can stroll to the beat of a music and adjusts the tempo based mostly on these metrics to enhance outcomes.
“At MedRhythms, we’re dedicated to redefining what is feasible for individuals residing with neurologic illnesses by constructing evidence-based merchandise that meaningfully affect signs which were underserved by conventional therapy modalities,” the corporate’s CEO Brian Harris mentioned in an announcement. “We glance ahead to what our collaboration with Biogen, a worldwide chief in MS, might imply for the sufferers we serve all over the world.”
WHY IT MATTERS
In accordance to the National Multiple Sclerosis Society, problem strolling is among the extra widespread mobility considerations with MS, and folks with the illness are susceptible to falls that may trigger accidents.
“As a part of our aspiration in digital well being, collectively with MedRhythms we goal to advance a brand new, modern therapy possibility for individuals residing with MS which will assist tackle strolling impairment, a standard concern that impacts their general high quality of life,” Martin Dubuc, head of Biogen Digital Well being, mentioned in an announcement.
“Pioneering in digital therapeutics exemplifies Biogen’s dedication to advance novel therapies that we hope will enhance outcomes for individuals residing with MS.”
THE LARGER TREND
MedRhythms raised $25 million in Series B funding in July final yr, bringing its complete increase to $34 million. This additionally is not the corporate’s first commercialization partnership. A few yr in the past, it began working with life sciences commercial services company Eversana to launch its persistent stroke instrument.
In the meantime, MedRhythms is not alone in placing offers with conventional pharma gamers for digital therapeutics. Swedish startup Alex Therapeutics, which raised €3.5 million final month, provides a platform that goals to assist pharma and life science partners create and launch digital therapeutics. Early this yr, the corporate entered into a strategic commercial partnership with Pfizer, initially centered on creating digital therapeutics for nicotine habit therapy.
Sidekick Well being, which simply introduced a $55 million Series B, has inked offers with Pfizer and Bayer. Happify Well being not too long ago introduced a partnership with healthcare providers and pharmaceutical firm Zuellig Pharma to commercialize two of its prescription digital therapeutics in Asia.