Proteus Digital Health has filed for Chapter 11 bankruptcy protection, noting that its efforts to raise money or sell the company fell victim to the COVID-19 pandemic. The Redwood City, Calif.-based company missed a $100 million funding target in December. Once valued at $1.5 billion, Proteus previously raised $420 million from investors including Novartis Venture Fund […]
Proteus Digital Health
Proteus Digital Health restructuring amid reported funding woes
Proteus Digital Health said today that it is restructuring, reportedly because it failed to close a $100 million funding round. A report by CNBC said the Redwood City, Calif.-based company missed the funding target. Once valued at $1.5 billion, the company previously raised $420 million from investors including Novartis Venture Fund and Kaiser Permanente Ventures, according to an […]
Proteus debuts digital cancer drug
Proteus Digital Health said today that the first cancer patients were treated using its digital oncology therapy, which combines oral chemotherapy with an ingestible sensor. Patients with stage 3 and 4 colorectal cancer at the University of Minnesota Health and Fairview Health Services were treated with digital capecitabine. The Redwood City, Calif.-based company plans to […]
Anthem exec chairman joins Proteus board | Personnel Moves – Feb. 26, 2018
Proteus Digital Health announced earlier this month that Anthem‘s (NYSE:ANTM) executive chairman, Joseph Swedish, joined the company’s board of directors. Swedish served as Anthem’s president & chief executive from 2013 until he was appointed executive chairman in 2018. “Proteus has created a compelling solution to a problem that has plagued the pharmaceutical industry for decades: […]
The ‘smart pill’ market could be worth $3B by 2025 – meet the key players
The “smart pill” market is expected to nearly quadruple in value to $3 billion by 2025, according to Grand View Research. Driving this growth is an increasing demand for minimally-invasive procedures, as well as better patient monitoring capabilities. There are a number of players in the pharmaceutical and medtech arenas looking to stake a claim […]
FDA approves first pill with sensor to track ingestion
The FDA today approved Abilify MyCite, the first drug in the U.S. to have an ingestible sensor embedded within the pill that can track if the medication was taken. The drug-device combination product is indicated for the treatment of schizophrenia, acute treatment of manic and mixed episodes linked with bipolar I disorder and as an […]
Ocular continues personnel shakeup with new CMO | Personnel Moves – Sept. 13, 2017
After Ocular Therapeutix‘s (NSDQ:OCUL) founder & CEO, Amar Swahney, stepped down earlier this year, pharma executive Antony Mattessich stepped in to assume the corner office. He signaled some major changes to the company’s business strategy in a call with analysts last month, including an attempt to ‘aggressively seek new partnerships’ and ‘enhance [the company’s] credibility’. As […]
BioDelivery Sciences president, CEO Sirgo to retire | Personnel Moves – Aug 29, 2017
BioDelivery Sciences (NSDQ:BDSI) said last week that its president & CEO, Mark Sirgo, plans to retire at the end of this year. Sirgo has held the corner office at the Raleigh, N.C.-based company since 2005. He will stay on as vice chairman of the board and will help determine his successor, BioDelivery Sciences reported. “After thirteen […]
Proteus, Otsuka take another run at FDA approval for Abilify-smart pill combo
Otsuka Pharmaceutical (TYO:4578) and Proteus Digital Health said today that the FDA accepted its resubmitted new drug application for their “smart pill”. The drug-device product combines Abilify and a Proteus ingestible sensor in a single tablet. The FDA is slated to make a decision on the NDA resubmission in the 4th quarter this year. After the […]
FDA wants more from Proteus, Otsuka on 'smart pill'
Otsuka Pharmaceutical (TYO:4578) and Proteus Digital Health said today that the FDA issued a complete response letter requesting more information from the companies for the combination of the Proteus “smart pill” and Otsuka’s Abilify anti-depressant drug. The Proteus pill is designed to signal a wearable patch after it reaches the stomach, recording and time-stamping data from […]
