BrightInsight is a spin-off from contract manufacturer Flex and has recently raised $25 million in funding for its internet-of-things (IOT) platform for connected medical devices and drug delivery systems. The Series A funding round, led by Eclipse Ventures and New Leaf Venture Partners, was the first significant outside investment for the startup which was created by Flex and spun out as an independent company. Flex remains a significant owner, but its stake has not been disclosed.
The founders of BrightInsight have been working for several years on the platform, designed for pharmaceutical and medtech companies that want their devices and drug-delivery systems to talk to each other and generate usable information.
BrightInsight’s end users include:
- Biopharma – the BrightInsight Platform offers comprehensive solutions that can improve patient adherence, including personalized patient engagement analytics, market intelligence on drug and device usage, or building blocks for patient-facing apps. By integrating drug and device data from multiple sources, while working seamlessly with existing EMR and other IT systems, the BrightInsight Platform provides analytics that can demonstrate improved outcomes. BrightInsight’s real-world data can cut trial timelines, while improving data accuracy. The device-agnostic platform also supports inclusion of off-the-shelf and custom medical devices in clinical trials.
- Medtech – BrightInsight makes remote device diagnostics and patient monitoring a reality, unlocking the data to support new value-based reimbursement models. BrightInsight’s defense-in-depth infrastructure, security and privacy tools, and processes can minimize the risk for ransomware attacks.
BrightInsight recently signed its third deal with a biopharma. AstraZeneca signed a deal with the company to develop digital health products to help patients with chronic diseases manage their conditions. The partnership will allow AstraZeneca to work with BrightInsight’s platform to create apps, software and connected devices to help deliver more efficient and personalized care.
Novo Nordisk selected BrightInsight’s platform to create new digital tools for people with diabetes. The companies previously teamed up on connected insulin pens, two of which are slated to launch early next year. Their existing partnership focuses on building connectivity into devices, such as nonconnected insulin pens, so that patients and physicians can see exactly which insulin a patient takes, at what dose and when the patient administered it.
BrightInsight previously launched a web-based CE-marked Dosing Calculator for emicizumab, a drug which is prescribed by physicians to treat patients with Hemophilia A. Hemophilia A is a rare disorder in which blood does not clot normally because it lacks sufficient blood-clotting proteins (clotting factors). The development and distribution of the Dosing Calculator for emicizumab is sponsored by Roche.
Takeaway: BrightInsight IOT platform making significant inroads into biopharma.