Innovestor Life Science fund enters the Swedish market with a €1.25M investment into the digital therapeutics (DTx) company Alex Therapeutics. The company secured a total of €4.75M with this extension round. Innovestor joins an impressive list of top-tier life science and tech VCs backing Alex Therapeutics, including Hadean Ventures, Scale Capital, Sweet Capital (King founders), and Bonit Capital.
Alex Therapeutics is a Stockholm-based digital therapeutics (DTx) company which designs and develops Software-as-a-Medical-Devices (SaMDs). The company uses its digital therapeutics platform, “Alex DTx Platform”, to develop and launch prescription digital therapies, typically in partnership with pharmaceutical companies. It has treated tens of thousands of patients, has experience with clinical validation, and overwhelmingly positive patient testimonials.
Alex Therapeutics is currently engaged in strategic DTx partnerships with Pfizer for Nicotine Addiction, and Vicore Pharma, developing a DTx treating Anxiety in Pulmonary Fibrosis patients. The new funding will enable Alex to enter new partnerships globally and develop DTx in new indications within addiction, mental health, and chronic illness.
“We’re thrilled to join a strong investor syndicate and back the Alex Therapeutics team”, says Marko Kuisma, Partner of Innovestor Life Science. “Their approach with industry-partnered prescription digital therapeutics combined with a profound commitment to evidence-based interventions, patient experience, and clinical evidence is well aligned with our principles. Through strong partnerships, we believe their platform can positively impact a huge number of patients suffering from various medical conditions.”
“We’re incredibly proud to welcome Innovestor onboard as investors in Alex.” says John Drakenberg, co-founder and CEO at Alex Therapeutics. “We quickly realized that their unique expertise in digital therapeutics would help accelerate our journey to develop, launch and scale world-class digital therapies together with our pharma partners“, he adds.
Innovestor Life Science brings key expertise in digital therapeutics and international growth, strengthening the already deep pool of Alex Therapeutics investors. With combined expertise, the investors and the board are uniquely positioned to support Alex Therapeutics in its growth as a global leader in DTx development.
Additional information:
Marko Kuisma, Partner, Innovestor Life Science
+358 50 377 3084
marko.kuisma@innovestor.fi
About Innovestor
Innovestor is a Finnish investment company focusing on venture capital and real estate. In addition, we offer corporate venturing services. The firm currently manages four VC funds with total capital of over €200 million. Consisting of almost 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make good money. For more information, visit www.innovestorgroup.com LinkedIn Twitter
About Alex Therapeutics
Alex Therapeutics is a digital therapeutics (DTx) company based in Stockholm which designs and develops Software-as-a-Medical-Devices (SaMDs). With the proven “Alex DTx Platform”, expertise in artificial intelligence and evidence-based psychology, Alex Therapeutics is uniquely positioned to deliver cutting-edge and reliable DTx products. The company has treated tens of thousands of patients, has experience with clinical validation and overwhelmingly positive patient testimonials. For more information, visit www.alextherapeutics.com or follow us on LinkedIn.