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).
Beneath the deal, MedRhythms would obtain a $3 million upfront cost from Biogen, with the potential to earn as much as $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 drawback that happens with MS that may make it tough to stroll. In 2020, MedRhythms obtained FDA Breakthrough System Designation for its product centered on continual stroke strolling impairments. It makes use of sensors to measure how nicely a consumer 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 remedy modalities,” the corporate’s CEO Brian Harris mentioned in an announcement. “We stay up for what our collaboration with Biogen, a worldwide chief in MS, may imply for the sufferers we serve world wide.”
WHY IT MATTERS
In keeping with the Nationwide A number of Sclerosis Society, issue strolling is without doubt one of the extra frequent mobility issues with MS, and other people with the illness are vulnerable to falls that may trigger accidents.Â
“As a part of our aspiration in digital well being, along with MedRhythms we goal to advance a brand new, progressive remedy choice for individuals residing with MS that will assist handle strolling impairment, a standard difficulty 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 Biogenâs dedication to advance novel therapies that we hope will enhance outcomes for individuals residing with MS.â
THE LARGER TREND
MedRhythms raised $25 million in Sequence B funding in July final yr, bringing its whole elevate to $34 million. This additionally is not the corporate’s first commercialization partnership. A couple of yr in the past, it started working with life sciences industrial providers firm Eversana to launch its continual stroke software.Â
In the meantime, MedRhythms is not alone in placing offers with conventional pharma gamers for digital therapeutics. Swedish startup Alex Therapeutics, which raised âŹ3.5 million final month, presents a platform that goals to assist pharma and life science companions create and launch digital therapeutics. Early this yr, the corporate entered right into a strategic industrial partnership with Pfizer, initially centered on creating digital therapeutics for nicotine habit remedy.
Sidekick Well being, which simply introduced a $55 million Sequence 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.