This week’s trend of big pharma crossing the aisle to collaborate with medtech and digital health companies continues.
This time its pharmaceutical giant Bayer in a licensing agreement with One Drop, a developer of digital therapeutic solutions for diabetes and other chronic conditions. New York-based One Drop also raised $40 million in a series B round that Bayer led.
The commercial licensing partnership will have One Drop's platform used in Bayer's bio-digital efforts in therapeutic areas such as oncology, cardiovascular disease, and women's health. With A.I.-powered behavioral recommendations, dedicated one-on-one coaching recognized by the American Diabetes Association, and thousands of app and device integrations, One Drop provides personalized health programs to drive sustainable behavior change as part of a diabetes management plan.
"As part of our strategy to shape the future of healthcare and build new businesses in digital health, we are investing in integrated digital solutions to improve health outcomes through data-driven solutions", said Stefan Oelrich, Member of the Board of Management of Bayer AG and President Pharmaceuticals, in a release. "This collaboration allows us to obtain access to a world-leading self-care platform for disease management beyond the boundaries of medicines with strong artificial intelligence-driven capabilities that could lead to better healthcare outcomes for people with chronic conditions."
Stefan Oelrich, Head of Bayer Pharmaceuticals, will join One Drop's board.
Bayer and One Drop’s announcement comes sharply on the heels of Abbott Laboratories and Sanofi striking up a partnership. The collaboration would have the two working together to integrate glucose sensing and insulin delivery technologies.
Initially, the collaboration enables data sharing, at the consent of the user, between Abbott′s FreeStyle Libre mobile app and cloud software and Sanofi′s connected insulin pens, apps, and cloud software that are currently in development. This data sharing will enable both people with diabetes and their doctors to make better-informed treatment decisions around medication, nutrition, and lifestyle.