Spire Health Closed A $38M Financing Round To Expand Commercialization Of Respiratory Remote Patient Monitoring Platform
Spire Health plans to use its new financing to expand commercialization of its respiratory remote patient monitoring platform, which combines AI with sensors in “health tags” worn inside clothing.
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The inhalation devices market will reach $12bn by 2023, driven by the rising prevalence of asthma and COPD worldwide. GlaxoSmithKline, AstraZeneca and Boehringer Ingelheim dominate worldwide sales of inhalation products for asthma and COPD, and are facing generic competition. Generics developers and major pharma players are trying to set themselves apart with better drug-delivery devices.
Israeli-based start-up RealView received US FDA 510(k) clearance for its Holoscope-i holographic system used prior to and during interventional procedures.
As Exo awaits FDA clearance for its handheld ultrasound device, it will use the new funding for planned commercialization. Exo has raised more than $320m to date.