Oviva strengthens its fight against Type 2 diabetes
Oviva, founded in 2014, has just announced that they have been successful in raising $21 million USD in Series B funding, in a round led by MTIP and participated in by Earlybird as new investors, and AlbionVC, F-Prime Capital, Eight Roads Ventures and Partech. With the money raised, Oviva aims to expand into Europe, to make their digital treatment for diabetes more widely available, in order to help the millions of patients not accessing treatment today.
Oviva has consistently demonstrated higher patient uptake, with their tailored nutrition advice and personalized coaching programs, all of which are delivered through their phone. Their treatment process has shown a higher patient retention, as well as a lower cost compared to face-to-face therapy. To date, Oviva has treated 90,000 patients across the UK, Germany, France, Switzerland and the UAE, consistently doubling each year for the last 3 years.
Not only does the treatment help to prevent diabetes, it also acts to reverse it, with their technology that changes the mindset of the patient rather than just providing short-term, immediate effects. In fact, Lucy Jones, Clinical Director of Oviva, commented: 'Behavior change is the safest and most cost-effective way of preventing and managing diet related health conditions including Type 2 diabetes. Our technology, empowering patients to take a leading role in managing their health, improves compliance and outcomes.'
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