Wednesday, 17 July 2019

DayTwo secures $31M in Series B Financing to address chronic health conditions

27 June 2019 | News

DayTwo will use funding to continue to support the fight against Chronic Illnesses

DayTwo, the microbiome human discovery platform that offers a glycemic control solution for people with type 2 diabetes, announced $31 Million in Series B financing.

DayTwo will use the funding to accelerate go-to-market initiatives in the United States where the company partners with payers, providers, and employers, and to continue to develop a new generation of products and services for metabolic and gastrointestinal conditions.

The round was co-led by aMoon, the leading life sciences venture fund, together with Ofek Ventures, a new venture fund focused on disruptive ICT technologies. Existing investors Seventure Partners and Johnson & Johnson continued their participation in the round. Previous funding rounds included contributions from the Mayo Clinic for the company's validation trial, recently published in JAMA. The financing brings DayTwo's total funding to $48 Million.

Lihi Segal, CEO and Founder of DayTwo said, "DayTwo is the only evidence-based, actionable, microbiome platform in the market today. We are in a privileged position to leverage our experience including first-rate science, clinical trials in Israel and the United States, tens of thousands of customers, and provider, employer, and payer relationships. This deep and broad foundation, coupled with this financing, enables DayTwo to address the large and pressing clinical need to bring food-as-medicine to market for people with type 2 diabetes in the United States."  

DayTwo's glycemic control solution uses gut profiling and other clinical parameters to provide a food-as-medicine solution to enable glycemic control. It’s personalized approach provides actionable insights into how the body metabolizes food and allows individuals to navigate what specific foods and meals to choose to balance their blood sugar levels.

Yahal Zilka, Managing Partner at Ofek Ventures said, "We are undergoing a transformational change in healthcare, when technology and machine learning can benefit patients with diabetes.”

“After success in its initial market, we are excited to bring DayTwo to the U.S. where it has the potential to improve the lives of over one hundred million people with diabetes and prediabetes," added Zilka, whose investment track record includes Waze, Argus, Onavo, DesignArt, Magisto (acquired by Google), Continental, Facebook, Qualcomm, and Vimeo, respectively.

Yair Schindel Managing Partner aMoon Fund said, "Digital health solutions such as DayTwo's accelerate treatment, disease prevention, and management of chronic illnesses. As a doctor who has witnessed first-hand the harmful effects of metabolic diseases, I am encouraged by the positive results among the tens of thousands of patients served by DayTwo. The company's ability to make precision medicine accessible through their glycemic-control solution is helping people with diabetes today; I feel fortunate to witness this as the company expands to the United States."

DayTwo's food-as-medicine approach is based on the original research conducted by Professors Eran Segal and Eran Elinav at The Weizmann Institute of Science, published in the journal, Cell, in 2015. The Cell paper demonstrated how the gut microbiome, in conjunction with other clinical and personal parameters, can enable personalized dietary interventions that can successfully balance post-meal glucose response.

Irit Poraz, Head Dietitian, at Clalit said, "We partnered with DayTwo to realize the full potential of personalization in both preventative care and chronic condition management. The era of food-as-medicine is here. DayTwo is a pioneer that has brought the only evidence-based, actionable microbiome derived solution to the market. We are pleased to be able to leverage this science and actionability for our plan members."

DayTwo continues to conduct ongoing research with clinical institutional partners including the Weizmann Institute of Science, the Israel Diabetes Association, Joslin Diabetes Center, Janssen a Pharmaceutical Company of Johnson & Johnson, and the Mayo Clinic.  

Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account



Podcast

 

Survey Box

Is Blockchain offering a solution to the healthcare industry?

× Please select an option to participate in the poll.
Processing...   View poll results   More polls

× You have successfully cast your vote.
{{ optionDetail.option }}{{ optionDetail.percentage }}%
{{ optionDetail.percentage }}% Complete
More polls