New investors with a proven track record in digital oncology are backing German digital therapy (DTx) company Fosanis to expand patient access to Mika, an app-based DTx platform that enables people affected by cancer.
BERLINLAUSANNE, Switzerland, BARCELONA, Spain and MUNICH, May 9, 2022 /PRNewswire/ — Berlindigital health company Fosanis, the developer of Mika, germany first prescription DTx for all oncology indications, closed a Series A funding round of more than 10 million euros. In addition to existing shareholders such as Ananda Impact Ventures, three new investors joined in the latest funding round: lead investor, Swiss-based Debiopharm Innovation Fund, Ship2B Ventures from Spain and venture capital firm Equity Pitcher.
As digital therapies gain traction globally, Germany pioneered the regulation of digital therapies. Mika has become the leading oncology DTx platform in Germany in recent years, proving its value to cancer patients and the healthcare system in clinical trials. The personalized platform offers evidence-based digital interventions to help cancer patients cope with the challenges of the disease and the treatment process.
According to the World Health Organization (WHO), approximately 19.3 million people are diagnosed with cancer worldwide. “Cancer knows no borders. Nor should helping those affected by cancer,” says Mika Founder and Managing Director Dr Jean Simon Raue. “We developed Mika to bring back some of the control when advice and support is needed most: from diagnosis through to the treatment process. Our mission is to empower everyone affected by cancer. a cancer is a human being with individual needs, Mika provides personalized and comprehensive cancer therapy support, combining the latest knowledge in cancer research with hands-on 24/7 help, in an easy-to-use and engaging digital tool.”
The capital raised in this Series A will support Mika’s expansion into the international arena. As Fosanis reveals plans to enter the UK healthcare ecosystem still in 2022, it also wants to partner with renowned international cancer research centers to conduct even more studies into the medical impact of AI-based personalization in digital interventions. Mika Co-founder and Managing Director Doctor Gandolf Finke:
“The importance of digital health and digital therapies in particular is growing globally. This financing round marks an important step in the history of our company, allowing us to develop our DTx platform in oncology and to position our offers internationally. We welcome our new investors on board and look forward to working closely with them to take Mika to new heights.”
Debiopharm is an experienced digital health investor with a particular focus on cancer. Tanja DoweCEO of Debiopharm Innovation Fund: “We are convinced that digital solutions can fill many critical gaps in healthcare and, in particular with regard to the support of cancer treatment, bring considerable relief to patients and treating physicians. Mika promotes the empowerment of patients and enables those affected to cope with their illness and treatment, independent of time and place.For this reason, we do not see ourselves only as mere investors, but we also support the company in its strategy and its execution and are proud to support Mika’s future growth.
Ship2B, based in Barcelona, invests primarily in start-ups that have the potential to make a valuable and lasting contribution to the world. Impact, that is to say the aspiration for real change, is at the forefront of their thinking, because Maite Fibla, co-founder and managing partner of Ship2Bemphasizes: “We are proud to contribute to the internationalization of Mika, which means being able to improve the quality of life of many more cancer patients. Not only does his mission meet our parameters of what should be an impact start-up, but we felt fully committed to it. It seems particularly important to us to think that, thanks to what has been achieved in the cycle, there can be the possibility of giving Spainamong other countries, this innovative proposal in oncological therapies.”
Andrea Buhofer, Partner at EquityPitcher Venturesfurther highlights the growing importance of patient-centric solutions in integrative digital oncology: “Personalised, digital and accessible support in cancer treatment is becoming increasingly important. Mika has developed an extremely user-friendly app with much-requested content, and we’re so glad we were able to help Mika continue to grow and make therapy support accessible to more people.”
Alongside new investors, current shareholders contributed to the funding round, led by impact VC Ananda Impact Ventures and several business angels who had already joined Mika’s mission in a previous seed investment round. Doctor Bernd Klosterkemperpartner at Ananda Impact Ventures, explains: “We are a home for entrepreneurs who meet the pressing challenges of our time in an evolutionary way. From the beginning, Mika aspired to create a positive impact on the well-being and quality of life of cancer patients. Like his meaningful vision resonates deeply with our ambition to support game-changing, purpose-driven solutions, we very much look forward to cementing the ties and helping Mika make a global impact.”
Founded in 2017 by Dr. Gandolf Finke and doctor Jean Simon Raue, digital health company Fosanis GmbH pursues the goal of empowering people affected by cancer with the help of digital technology. To this end, Fosanis GmbH has developed the AI-powered DTx Mika together with leading oncology research institutes and cancer centers such as the University of Leipzig Medical Center and Charité Berlin. A clinically proven app-based platform, Mika has become the first and so far only “Digital Health App” (DiGA) approved for all cancer patients in 2021. Mika is a digital therapeutic platform personalized (DTx) in oncology. Accompanying those affected by cancer through their illness and therapy, Mika combines AI-powered monitoring and coaching, including scientifically tested methods and therapy management techniques. Daily health check-ups – called ePRO = electronic patient-reported results – allow continuous monitoring of distress levels and symptoms, while a personalized coaching program provides scientifically validated multimedia elements and psycho-oncology interventions. These include more than 800 rigorously validated articles, videos and coping skills training courses – ranging from nutritional recommendations to exercise training and mindfulness coaching.
Fosanis is based in Berlin and employs more than 40 people. Further information can be found at www.mitmika.de and www.mikahealth.com
About the Debiopharm Innovation Fund
Debiopharm develops, manufactures and invests in innovative therapies and technologies that address significant unmet medical needs in oncology and bacterial infections. Debiopharm Innovation Fund aims to provide strategic funding and advice to companies offering Smart Data & Digital Health solutions with the ambition to change the way medicines are developed and the way patients are treated. Accomplishments from our growing portfolio of companies include 18 FDA or CE mark clearances and 2 IPOs as well as 3 successful M&A exits. Since 2018, Debiopharm has invested more than $150 million, leading the investment cycles of 22 of the last 30 investments. For more information, visit www.debiopharm.com
About Ship2B Ventures
Ship2B Ventures is a venture capital firm that invests in the most impactful startups. As impact investors, they seek to generate triple returns: economic, social and environmental. Ship2B Ventures combines the best of the world of venture capital with the world of impact, maximizing the financial return of their investments with a clear intention to generate, manage and measure their impact. Currently, the investment team manages 60 million euros and has participated in more than 25 financing rounds. Qida, Psious, CodeOp and Rosita Longevity are startups invested by Ship2B Ventures. For more information, visit www.ship2bventures.com
About EquityPitcher Ventures
EquityPitcher is an early growth venture capital firm supporting promising startups in the DACH region. Through close collaboration with renowned industry experts, investors and exit partners, we pave the way for entrepreneurs to achieve the three critical success factors: capital, know-how and network. For more information, visit www.equitypitcher.com
About Ananda Ventures
Ananda Impact Ventures is the leading impact venture capital fund with a Europe– extended investment mandate. Ananda manages €180m across four main impact funds and is backed by renowned institutional and private investors. Ananda funds technology companies that address the most pressing social and environmental challenges of our time in scalable and sustainable ways. Its active portfolio includes IESO Digital Health (online psychotherapy), Klim (regenerative agriculture) and Ororatech (which uses satellite technology to fight wildfires). For more information about Ananda Impact Ventures, please visit www.ananda.vc
Note to Editor: If you wish, we would be happy to put you in touch with the founders of the company, Dr. Gandolf Finke and doctor Jean Simon Raue.
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SOURCE Debiopharm International SA