{"id":51,"date":"2016-08-25T03:59:11","date_gmt":"2016-08-25T03:59:11","guid":{"rendered":"https:\/\/new.doseme.com.au\/?p=51"},"modified":"2021-04-13T11:26:33","modified_gmt":"2021-04-13T01:26:33","slug":"doseme-series-a","status":"publish","type":"post","link":"https:\/\/doseme-rx.com\/de\/news-media\/articles\/doseme-series-a","title":{"rendered":"DoseMe completes Series A financing, eyes global expansion"},"content":{"rendered":"

DoseMe, a privately held digital medical solutions provider, today announced it closed a $2.6 million Series A financing round, valuing the company at $20 million.<\/p>\n

The funding was secured from two veteran healthcare executives, Greg Spurgin and Gary Cunningham, both founders of leading US outpatient orthopaedic physical therapy company Results Physiotherapy.<\/p>\n

Mr Spurgin will join Shark Tank star and DoseMe seed investor, Steve Baxter, on the board, alongside DoseMe CEO Charles Cornish and company founder Dr Robert McLeay.<\/p>\n

The DoseMe software platform is a simple-to-use precision dosing tool built on the principles of Bayesian dose forecasting, a complex mathematical algorithm that uses patient data and laboratory results to estimate a person\u2019s metabolism – their ability to absorb, process and clear a drug from their system. DoseMe achieves this by building a virtual model of each person, from as little as one laboratory result, by using thousands of data points from published population models. Once this virtual model of each individual is built \u2013 in less than a second \u2013 DoseMe helps clinicians dose more accurately, and precisely, calculating the most effective dose to reach the desired outcome. In addition, DoseMe can simulate the potential outcome of different dosing regimens to support clinicians in making the best decision for challenging cases.<\/p>\n

In addition, DoseMe continues to learn over time; continuously becoming more refined in its dose recommendations.<\/p>\n

The investment will cover five main areas, including commercialising DoseMe in Australia, expanding into the US market, developing sales capability in Europe, and integrating DoseMe into existing electronic medical record providers in key markets.<\/p>\n

The funding will help expand the number of drug molecules on the platform (including regulatory costs for each molecule in Australia (Therapeutic Goods Administration), Europe (CE) where DoseMe has medical regulatory clearance, and the US (FDA) where DoseMe\u2019s submission is being assessed.
\n\u201cWe\u2019ve been overwhelmed by the wide interest received in DoseMe\u2019s Series A funding round, especially from several Asian-based venture funds,\u201d DoseMe CEO Charles Cornish said.<\/p>\n

\u201cAfter careful evaluation, the board\u2019s preference was to go with Greg (Spurgin) and Gary (Cunningham), two Brisbane-based investors who have successfully taken Australian health-related businesses to the US,\u201d Mr Cornish said.<\/p>\n

Mr Cunningham and Mr Spurgin said the investment in DoseMe was a recognition and testament of both the product and company\u2019s growth potential.<\/p>\n

\u201cI have been involved in healthcare for more than 25 years and can see that DoseMe has the potential to deliver significant cost savings and efficiencies, and most importantly, it has the capacity to save lives all over the world,\u201d Mr Cunningham said.<\/p>\n

\u201cDoseMe can save and change people\u2019s lives, and that\u2019s such a compelling reason to be involved in a startup,\u201d Mr Spurgin said. \u201cOur investment in the company underscores our confidence in Charles and his team. We\u2019re excited by DoseMe\u2019s prospects – going global can do so much good for millions of people,\u201d Mr Spurgin added.<\/p>\n

Mr Baxter echoed both investors\u2019 sentiments, saying:<\/p>\n

\u201cCharles and his team have demonstrated what can be achieved with a global problem-solving solution and solid commercial nous. There is a clear gap in the market for what DoseMe has to offer and I\u2019m excited to be working together to advance the company\u2019s mission to improve patient outcomes and save lives.\u201d<\/p>\n