Prescription Digital Therapeutics Market On The Move

Prescription Digital Therapeutics (PDTs) are software applications that deliver evidence-based therapeutic interventions to patients to prevent or treat a medical disorder or disease. They can be used independently or with medications or other therapies to optimize patient care and health outcomes.  

PDTs are developed under the same regulations as pharmaceuticals and are developed to be used like drugs, complete with clinical trials, FDA clearance and available only with a physician’s prescription.

PDTs are being developed for a range of conditions, from schizophrenia and depression, to multiple sclerosis and Alzheimer’s, to oncology and GI disorders, and more. As a result, there is movement in the growing industry as industry participants stake out their position. An area of particular interest that AMI will continue to follow closely is the investments made by the pharmaceutical industry.  

OptimizeRx plans to acquire RMDY Health, a multipurpose digital therapeutics SaaS platform, for $16 million in cash and equity. The RMDY Health platform is used by pharma, payers, MedTech companies and medical associations nationwide.

OptimizeRx^® is a digital health company connecting pharmaceutical companies to patients and providers, offering greater affordability, adherence and brand awareness at the point-of-care. As the nation’s largest digital platform connecting life sciences to the point-of-care, OptimizeRx provides a direct channel for pharma companies, payers, medtech, medical associations to communicate with healthcare providers right within their workflow and also directly to patients.

The acquisition adds three new client segments to OptimizeRx’s existing patient engagement platform – payers, medtech and medical associations – further simplifying chronic disease management and drug adherence for healthier results at lower costs.

Additionally, OptimizeRx and Eversana announced their partnership to modernize the patient experience and improve health outcomes by combining a real-time electronic health records (EHR) network with customized, wraparound patient support services.

In another recent transaction, Biofourmis, an artificial intelligence-enabled monitoring and decision support platform company, announced its plans to acquire Biovotion. The acquisition will include Biovotion’s clinical grade-wearable technology Everion, as well as its entire portfolio and pipeline, team, clients, partners and patents. According to Biofourmis, the patents include both consumer and clinical wearables. The plan is to combine Biovotion’s wearables with Biofourmis’ analytics platform. 

Biofourmis also announced that is working with Novartis for the commercial rollout of a platform that uses predictive analytics to manage heart failure in patient populations. The technology will use Biofourmis’ AI and the recently acquired Everion sensor. Specifically, it will take the form of a product to help predict and analyze drug therapy. The companies will start with the commercial roll out in Asia with plans to expand to the US and beyond. 

Takeaway: Transactions are happening fast and furious as industry stakeholders position their companies for success in the prescription digital therapeutics industry.