Starting digital therapy Swing Therapeutics completed a $ 10.3 million series of Series A funding led by Jazz Venture Partners.
Other participants in the promotion include Alumni Ventures, AME Cloud Ventures, Asahi Kasei Corporate Ventures, Gaingels, Kicker Ventures, Mana Ventures and Metrodora Ventures. Swing Therapeutics was founded in 2019 and launched with $ 9 million in initial funding.
WHAT THEY DO
Swing focuses on building and testing digital therapy for fibromyalgia, which causes widespread musculoskeletal pain as well as fatigue, sleep, memory and mood problems.
In August, the startup announced that it had received FDA Breakthrough Device designation for its smartphone-administered therapy, a 12-week program that uses Acceptance and Commitment Therapy (ACT), a type of cognitive-behavioral therapy to help patients understand and manage their symptoms.
Swing plans to use Series A to maintain its own PROSPER-FM a randomized clinical trial examining the effectiveness of its digital ACT program and tracking symptoms. He will also use the funds to open a connected telemedicine clinic.
“People living with fibromyalgia have limited treatment options, and behavioral therapies and other nonpharmacological approaches are often not readily available,” said Dr. Leslie Arnold, lead researcher of the PROSPER-FM study, said in a statement. “I look forward to further assessing how Swing therapy can improve fibromyalgia management using an approach that can be readily available to people with fibromyalgia, many of whom continue to have unmet treatment needs.”
THE MOMENT ON THE MARKET
Another company in the digital therapy space, AppliedVR, uses cognitive-behavioral therapy in virtual reality sessions to manage chronic pain. Startup received FDA New Approval to use its VR system to treat chronic lower back pain last year, at about the same time as it announced a $ 36 million Series B.
At the end of last year, metaMe Health took care of the digital irritable bowel syndrome (IBS). received permission from FDA 510 (k). for Regulora, a digital prescription therapy (PDT) that provides gut-targeted hypnotherapy to relieve abdominal pain associated with IBS in adults. The company recently partnered to bring PDT on the marketnot long after a raises $ 2.2 million.