Comparing your inhaler to a tech innovation like Uber might sound far fetched, but David Van Sickle wants you to hear him out.
Van Sickle, CEO and founder of Propeller Health, a Madison startup that makes "smart inhalers" that use sensors to help patients better manage their respiratory conditions, believes we're on the forefront of a shift in medicine. Digital technologies, like the ones created by Propeller, will change the way treatments are administered and how patients think about their healthcare.
The way Uber changed paying for a cab, or how Zillow changed shopping for a house, Propeller Health and other digital startups are changing the way people think about chronic diseases.
"When we look at what we’re trying to accomplish in chronic disease care and treatment, we think a lot about what happened in other areas of your life, whether it's entertainment or looking for a job or buying a house. Entire experiences of parts of your daily life were changed by digital," Van Sickle said. "We think that’s actually just about to happen to medicine."
"What we have is an add-on attachment to a medicine," he continued. "But as we look out into the future, we think that these digital components are going to be built more and more directly into the medicines themselves, and the physicians will have an opportunity to prescribe essentially a digital version of the medicine."
Propeller launched in 2010 and has become one of Wisconsin's most high-profile startups. Its digital platform connects a patient’s inhaler to their smartphone via a sensor, and then uses medication use and location data to deliver insights on their disease. The company has raised around $70 million in venture funding and is the most valuable VC-backed startup in the state, according to Pitchbook.
The company has had an eventful 2018, landing $20 million in fresh funding in May from investors like 3M Ventures, Safeguard Scientifics and Social Capital. Aptar Pharma, a large maker of inhalers and other drug delivery devices, joined the round as a strategic investor and invested $10 million in Propeller as it looks to use the startup's technology in its medical devices.
Propeller has grown to around 100 employees, most of which are based in its Madison headquarters. The company also has an office in San Francisco. Van Sickle credits Madison's growing tech community and access to talented graduates from local universities as keys to Propeller's growth.
"We’ll always be headquartered here," he said. "For us, it's been a great place to grow a business."
Van Sickle declined to disclose revenue numbers, but said the business has been growing quickly. The company secured its 9th FDA clearance this summer and recently partnered with Anthem BCBS to bring Propeller to patients in Ohio. The startup is also planning to move into a new Madison office space in February.
"We’re optimistic that we’re at the starting line for a wholesale shift in the way you experience chronic disease," Van Sickle said. "When (treatments are) combined with a digital interface, people benefit. They have fewer days with symptoms. They have fewer ER visits. They have fewer hospital visitations."
