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Alex Therapeutics

Alex Therapeutics, a digital therapeutics company, is changing the way clinicians provide support for patients to change unwanted habits leading to poor medical outcomes. Our proprietary AI-platform is used as the basis when we develop CE-marked software medical devices (Class I) apps for a variety of therapeutic areas.

Alex Therapeutics is a Swedish digital therapeutics (DTx) company that uses its AI-driven platform, Alex DTx, to develop and launch prescription-based digital therapeutics (PDTs) together with pharma and life science companies. These PDTs are built on cognitive behavioral therapy and machine learning, undergo clinical validation and are based on agile systems for ease of gaining regulatory (FDA and CE) approval. Additionally, the firm claims to reduce time-to-market and global deployment.

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

Vicore and Alex Therapeutics report positive results for their digital CBT

Pfizer

Pfizer has inked a deal with the Swedish digital therapeutic platform developer Alex Therapeutics to help study and launch a smartphone app for combating nicotine addiction.

Companies offer B2B and D2C evidence-based treatments delivered via software programs to prevent and manage a variety of chronic conditions.

<div>
 
 Alex Therapeutics is a Swedish digital therapeutics (DTx) company that uses its AI-driven platform, Alex DTx, to develop and launch prescription-based digital therapeutics (PDTs) together with pharma and life science companies. These PDTs are built on cognitive behavioral therapy and machine learning, undergo clinical validation and are based on agile systems for ease of gaining regulatory (FDA and CE) approval. Additionally, the firm claims to reduce time-to-market and global deployment. 
 
 
 As of April 2022, Alex had one commercially available DTx, a companion app for smoking cessation. Its pipeline of treatments consists of treatments for nicotine addiction, obesity, anxiety, and depression in patients diagnosed with idiopathic pulmonary fibrosis (IPF), as well as depression and anxiety for patients with breast cancer.
 
 
 Key customers and partnerships
 
 
 The company’s most recent partnership was with Pfizer in January 2022, where it built a DTx to treat nicotine addiction. The DTx, which is undergoing clinical trials as of April 2022, will be launched as a reimbursable prescription for Digital Health Applications in Germany. The firm has also partnered with Vicore  Pharma to develop its DTx for treating anxiety and depression in patients with IPF. 
 
 
 Funding and financials 
 
 
 In April 2022, the firm raised EUR 3.5 million (USD 3.8 million) in an oversubscribed funding round led by Hadean Ventures which was earmarked for its expansion across Europe and into the US. The funds are also allocated for developing new digital therapeutics with partners. 
 
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Alex Therapeutics is a Swedish digital therapeutics (DTx) company that uses its AI-driven platform, Alex DTx, to develop and launch prescription-based digital therapeutics (PDTs) together with pharma and life science companies. These PDTs are built on cognitive behavioral therapy and machine learning, undergo clinical validation and are based on agile systems for ease of gaining regulatory (FDA and CE) approval. Additionally, the firm claims to reduce time-to-market and global deployment.As of April 2022, Alex had one commercially available DTx, a companion app for smoking cessation. Its pipeline of treatments consists of treatments for nicotine addiction, obesity, anxiety, and depression in patients diagnosed with idiopathic pulmonary fibrosis (IPF), as well as depression and anxiety for patients with breast cancer.Key customers and partnershipsThe company partnered with Pfizer in January 2022, where it built a DTx to treat nicotine addiction. The firm has also partnered with Vicore Pharma to develop its DTx for treating anxiety and depression in patients with IPF. Further in <a href="https://sp-edge.com/updates/33548">September 2024</a>, it partnered with Navamedic to develop a companion app for managing Parkinson's disease treatment.

Cardiomo Care is developing noninvasive wearable devices to alert users and caretakers when there are abnormalities in the heartbeat. The company’s AI engine, trained on existing and growing data sets, can predict potential heart issues up to two hours before they occur, enabling early detection and intervention for arrhythmias and other cardiovascular diseases (CVDs).The company's product, CardiomoPatch, is a waterproof, wearable patch capable of long-term wear with a 10-day battery life. The patch monitors a patient's cardiac data, including ECG outputs, breathing, and skin temperature, and transmits the data via a mobile app for analysis by Cardiomo's AI engine.&nbsp;As of May 2024, the company is yet to commercialize its product and has over 1,600 pre-orders.

Cardiomo Care

Omada is a prevention-focused digital therapeutics startup that helps members achieve health goals through lifestyle changes. It offers four evidence-based, virtual prevention programs for managing hypertension, musculoskeletal (MSK) issues, prediabetes, and diabetes.Omada offers real-time data tracking through connected devices (such as wireless scales, blood pressure, and glucose monitors) and access to personalized coaching sessions via a mobile app as part of its prevention program. It also provides an online community of peers with similar health conditions to discuss challenges and provide support. In May 2021, Omada became the first fully-virtual healthcare provider to earn the National Committee for Quality Assurance’s Population Health Program Accreditation for its type 2 diabetes and type 2 diabetes + hypertension programs.Unlike its peers, Omada operates a performance-based business model where it charges clients an enrollment fee based on the number of users and a performance fee based on how much weight their employees lose. In May 2020, the company acquired virtual physical therapy startup Physera.Key customers and partnershipsAs of May 2024, Omada had more than 1 million members from more than 1,900 enterprise clients across all 50 US states. Its B2B employer and health plan client base include key clients such as American Eagle, Kaiser Permanente, Costco Wholesale, 3M, and Marvin. Additionally, the company has partnered with health systems and hospitals such as Intermountain Healthcare to provide its preventive programs as a covered benefit.In <a href="https://sp-edge.com/updates/15587">January 2023</a>, the company partnered with health service company Castell (a subsidiary of Intermountain Healthcare) to provide its diabetes programs to members from Intermountain Healthcare’s primary care providers in its Utah Medical Group. Further in <a href="https://sp-edge.com/updates/25245">January 2024</a>, the company partnered with Amazon to expand access to its cardiometabolic program.

Omada Health

VillageMD provides primary care services for patients. It also provides tools, technology, and staffing support needed for physicians to deliver high-quality services. VillageMD’s service delivery methods include traditional freestanding clinics, Village Medical at Walgreens co-located clinics, as well as at-home and around-the-clock virtual visits. It also leverages a team-based approach to care where physicians lead nurse practitioners, pharmacists, mental health specialists, and dietitians to offer a holistic care program. The technology of VillageMD includes docOS, an operating system that enables better patient care by connecting various clinical source systems with ongoing patient-generated data coupled with an AI engine to continuously analyze messages to enable patient self-care.The company made several acquisitions to expand its footprint: 1) <a href="https://sp-edge.com/updates/14347">Summit Health</a> for USD 8.9 billion in November 2022, 2) Healthy Interactions, an interactive patient education platform, in February 2022, and 3) <a href="https://sp-edge.com/updates/16968">Starling Physicians</a>, a primary care and specialty care provider, in March 2023.Key customers and partnershipsIn June 2020, VillageMD and Walgreens Boots Alliance announced a collaborative effort to open at least 600 Village Medical centers at Walgreens across more than 30 US markets by 2025. Walgreens invested USD 5.2 billion in VillageMD (from the previously announced USD 1.0 billion), raising its ownership stake to 63% (from 30%).However, as of May 2024, Walgreens had plans to close 160 VillageMD clinics as part of a cost-cutting plan.

VillageMD

Cityblock Health is a value-based healthcare provider focused on delivering comprehensive care to underserved communities, primarily Medicaid and lower-income Medicare beneficiaries. The company combines primary care, behavioral health, and social services to address the complex physical, mental, and social needs of its members.Cityblock's model involves partnering with local community-based organizations and deploying multidisciplinary care teams that include doctors, nurses, behavioral health specialists, and community health workers. These teams provide personalized care through 24/7 access to multi-modal care delivery, including in-home visits, telehealth, and community health hubs.The services of Cityblock are available to members at no additional cost if they are covered by an eligible health plan.Key Customers and PartnershipsAs of May 2024, the company’s services were available in seven states across the US and served over 100,000 members.In May 2024, it partnered with <a href="https://sp-edge.com/updates/29647">Sunshine Health</a> to expand to Florida, and, in <a href="https://sp-edge.com/updates/13270">September 2022</a>, it partnered with MDwise to expand into Indiana. Prior to that, the company had partnered with insurance providers such as ConnectiCare (Connecticut), Tufts Health Plan (Massachusetts), Emblem Health (New York), Healthy Blue (North Carolina), Molina Healthcare (Ohio) and CareFirst (Washington DC).Funding and FinancialsCityblock is a spin-off of Sidewalk Labs, an Alphabet company that incubates and invests in tech companies and products to improve urban infrastructure. It completed a USD 400 million Series D funding round led by Softbank in <a href="https://sp-edge.com/updates/5326">September 2021</a>, valuing the company at USD 5.7 billion. The funds were used to expand its services.

Cityblock Health

Everside Health (formerly Paladina Health) offers preventative care for chronic conditions and primary, mental and occupational healthcare treatments for acute conditions. Patients benefit from around-the-clock access to care, same-day or next-day appointments for in-person, and virtual care visits with zero copays.Everside aims to generate around 17% healthcare cost savings in three years and 31% in five years for its corporate members by leveraging a data-driven approach to care coordination.The company leverages data from past medical records, predictive analytics, and AI in the delivery of preventative care services.Founded in 2010 under the name Paladina Health, the company was rebranded in November 2020 as Everside Health following a merger between three primary care groups (Paladina, Activate Healthcare, and Healthstat). Furthermore, in February 2024, Everside Health merged with primary care provider Marathon Health to form a combined entity that would operate as Marathon Health, and, as of May 2024, the integration was ongoing.Key customers and partnershipPost-merger with Marathon Health, the combined entity would serve 2.5 million patients through over 680 clinics across 41 states.Funding and financialsThe company received its most recent investment in July 2022, amounting to USD 164 million in growth equity funding. The round was led by New Enterprise Associates (NEA). The funds were allocated toward growing its market presence and exploring opportunities for M&amp;A as well as to enhance and improve its product features. Additionally, the firm planned to expand its coverage of specialty care services aimed at individuals, employers, and union organizations.

Everside Health

Platforms offer a subscription-based or B2B-sponsored, evidence-based program for managing a specific long-term health condition.

DPCs offer value-based primary and preventive care services addressing whole-person (social, mental, physical) needs for a fixed monthly or annual fee paid by either the patient, insurance provider, or employer.

Tools that collect and analyze real-time patient data that supports healthcare providers with clinical decisions,  improves patient outcomes, and reduces medical errors.

Companies offer independent physician practices and hospitals with the tools (patient engagement, care coordination, administrative services) to help manage and improve clinical health outcomes of a defined group of individuals or large populations.

Platforms are used to track and gather patient health-related information via either a connected device or at-home test kits to detect the early onset of disease and identify any abnormalities in readings—but do not include a treatment plan.

To gather large amounts of real-time data for chronic care management, DTx, and patient monitoring

XR used by some startups for chronic pain management

Offers digital means of providing direct primary care, passive remote monitoring, chronic care management, etc.

AI/ML is used in predictive analytics, diagnostics tools, and population management

Offers tailored preventive interventions and treatments to the specific needs and characteristics of each individual

ANALYST_QUICK_TAKE

PROMINENT_CATEGORY

<div>
 Alex Therapeutics, a digital health provider, is partnering with Navamedic, a pharmaceutical company from Sweden, to create a companion app specifically designed to manage Parkinson's disease treatment. 
 This application will offer patients who are taking Flexilev, a prescription medication for Parkinson's, assistance in managing their medication. This will augment the function of the OraFID dose dispenser, creating a unique combination to promote adherence to personalized treatment schedules. With its initial launch in Sweden, Norway, and Denmark planned within the next year, there are also plans for this app to be expanded globally in future.

</div> Analyst QuickTake: 
 In <a href="https: 
//www.prnewswire.com/news-releases/pfizer-and-alex-therapeutics-announce-a-strategic-commercial-partnership-to-provide-evidence-based-digital-therapeutics-to-patients-starting-in-germany-301471350.html"> January 2022 </a> , the company partnered with Pfizer to develop a digital therapeutics (DTx) app to treat nicotine addiction. The company had also partnered with Vicore Pharma to develop a DTx for treating anxiety and depression in patients with idiopathic pulmonary fibrosis.

Alex Therapeutics

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