Propeller Health, a startup that makes software that helps patients better manage asthma, COPD and other respiratory diseases, has raised $20 million in new funding.
The Madison-based startup uses sensors that attach to a person's inhaler, which wirelessly communicate with their smartphone. The sensors track a person's symptoms, and makes a digital record of how often someone uses their inhaler. Propeller can also set up medication reminders and alerts.
The $20 million funding round was led by Aptar Pharma, a large maker of inhalers, injectors and other drug delivery devices. Aptar Pharma invested $10 million in the round. As part of the strategic investment, Aptar Pharma will use Propeller's technology in its devices.
Other investors in Propeller's round include Safeguard Scientifics, Social Capital, Hikma, 3M Ventures and SR One. The startup has raised close to $70 million since launching in 2010.
“Since starting Propeller in 2010, we’ve built the most advanced digital medicine platform and therapeutic patient experiences to improve chronic respiratory disease,” David Van Sickle, co-founder and CEO of Propeller Health, said in a statement. “Today marks a major step forward for our company. With our industry-leading platform and in partnership with our growing Propeller Provider Network, we now have the foundation in place to bring the benefits of digital medicines to many new conditions.”
Propeller and Crystal Lake, Illinois-based Aptar first worked together in 2016, when they partnered to develop the world’s first fully-integrated connected metered dose inhaler.
Propeller said it will also begin to develop digital medicines for new therapeutic areas.
