One Drop, the digital health specialist that markets diabetes management tools, has found a new partner and investor in Bayer. The German pharma led One Drop’s $40 million series B round and licensed its technology for its “bio-digital efforts” in areas beyond diabetes.
New York-based One Drop offers hardware and software to help people manage their diabetes, including a Bluetooth-enabled blood glucose meter, test strips and lancets as well as a mobile app and various coaching programs. These are available individually or as part of a “gestational diabetes package” or a subscription-based “diabetes package.”
The One Drop app works with FitBit trackers and Dexcom glucose monitoring systems on iPhone and Android devices. Apple has even begun selling One Drop’s chrome-plated glucose meter alongside its iPhones and Apple Watches in some of its U.S. retail stores. These integrations, One Drop says, are why its reach is so deep. It estimates that nearly 1.5 million people in 195 countries use its technology.
Though aimed at diabetes, One Drop believes its platform could be used to track and manage a range of health conditions—and Bayer agrees. The Big Pharma will harness One Drop’s mobile platform “across a broad array of therapeutic areas” including oncology, heart disease and women’s health.
"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, president of Bayer’s pharmaceuticals division, in a statement. "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."
As for the new $40 million infusion, One Drop will use it to “invest in its growth and to further its mission to transform the lives of people with diabetes and other chronic conditions,” Rachel Sánchez-Madhur, vice president of consumer strategy and marketing, told FierceMedTech in an email.
“This year will see continued growth in our consumer channels, and rapid growth in our employer channel, and an expanded effort to drive further ahead with our data science operations,” she said.