Innovestor Life Science, a leading biotech and digital health VC, invests €1.25M in the digital therapeutics (DTx) company Alex Therapeutics. With this extension, the company has secured a total of €4.75M this round. Innovestor joins an impressive list of top-tier life science and tech VCs backing Alex Therapeutics, including Hadean Ventures, Scale Capital, Sweet Capital (King founders), and Bonit Capital. 

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“We’re thrilled to join a strong investor syndicate and back the Alex Therapeutics team”, says Marko Kuisma, Partner of Innovestor Life Science. “Their approach with industry-partnered prescription digital therapeutics combined with a profound commitment to evidence-based interventions, patient experience, and clinical evidence is well aligned with our principles. Through strong partnerships, we believe their platform can positively impact a huge number of patients suffering from various medical conditions.”

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Innovestor Life Science brings key expertise in digital therapeutics and international growth, strengthening the already deep pool of Alex Therapeutics investors. With combined experience from life science and digital therapeutics (Innovestor and Hadean Ventures), tech expansion (Scale Capital), medical devices (Bonit Ventures), and world-leading UX/UI (the King founders), the investors and board are uniquely positioned to support Alex Therapeutics in its growth as a global leader in DTx development.

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“We’re incredibly proud to welcome Innovestor onboard as investors in Alex”, says John Drakenberg, co-founder and CEO at Alex Therapeutics. “We quickly realized that their unique expertise in digital therapeutics would help accelerate our journey to develop, launch and scale world-class digital therapies together with our pharma partners.“

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“We’re very excited to welcome Innovestor into the syndicate to further accelerate the growth of Alex Therapeutics”, adds Dr. Ingrid Teigland Akay, MD, MBA, Founding Managing Partner of Hadean Ventures. “The upsizing of the financing round attracted the attention of several investor groups, and we’re convinced Innovestor is bringing the right expertise to the table. We’re very much looking forward to continuing this very exciting journey developing world-leading digital therapeutics for unmet medical needs.“

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Alex DTx Platform provides the launchpad for pharma companies seeking to launch DTx products

Alex Therapeutics uses its digital therapeutics platform, “Alex DTx Platform”, to develop and launch prescription digital therapies, typically in partnership with pharmaceutical companies. These DTx products can be classified as medical devices, prescribed by doctors, and reimbursed by healthcare systems. The platform enables the development of personalized standalone treatments utilzing evidence-based psychology, primarily cognitive behavioral therapy (CBT) and acceptance and commitment therapy (ACT), world-leading technology and design, with indication specific features to address unmet patient needs worldwide.

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Announced strategic partnerships with Pfizer and Vicore

Alex Therapeutics is currently engaged in strategic DTx partnerships with Pfizer for Nicotine Addiction and Vicore Pharma in developing a DTx treating Anxiety in Pulmonary Fibrosis patients. The funding will enable Alex to enter into new partnerships globally and develop DTx in new indications within addiction, mental health, and chronic illness.

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Press

Alex Therapeutics

COO & CFO

Sebastian Blendow

Upplandsgatan 7, 11123 Stockholm, Sweden

E-Mail: press@alextherapeutics.com

Website: www.alextherapeutics.com

About Alex Therapeutics

Alex Therapeutics is a digital therapeutics (DTx) company based in Stockholm which designs and develops Software-as-a-Medical-Devices (SaMDs). With the proven “Alex DTx Platform”, expertise in artificial intelligence and evidence-based psychology, Alex Therapeutics is uniquely positioned to deliver cutting-edge and reliable DTx products. The company has treated tens of thousands of patients, has experience with clinical validation and overwhelmingly positive patient testimonials. For more information, visit www.alextherapeutics.com or follow us on LinkedIn.

About Innovestor

Innovestor is a Finnish investment company focusing on venture capital and real estate. In addition, we offer corporate venturing services. The firm currently manages four VC funds with total capital of over €200 million. Consisting of almost 100 growth companies across multiple sectors of technology and life science & health, it represents one of the largest private venture-backed portfolios in the Nordics. Our mission is to make good money. For more information, visit www.innovestorgroup.com, LinkedIn and Twitter