The proceeds will help Blue Note to scale the organisation, as well as fund near-term clinical trials of its prescription digital therapeutic
Digital therapeutics company Blue Note Therapeutics has secured a $26.25m under Series A financing round for its prescription digital therapeutic (PDT) to treat cancer.
The funding round was led by JAZZ Venture Partners and participated by Summer VC.
The company will use the proceeds from the financing round to scale the organisation, as well as fund near-term clinical trials of its PDT to treat cancer.
Blue Note will also use the funds for the development of the company’s asset pipeline.
The company is working with major cancer research centres and patient communities for the development of clinically validated medical devices to enhance overall cancer outcomes.
The products are also expected to help address the specific psychosocial requirements of oncology patients, in addition to reducing comorbidities such as anxiety, depression, and fear of cancer recurrence.
JAZZ Venture Partners co-founder and managing director Dr Andrew Firlik said: “Blue Note devices present an opportunity to expand access for all Americans to the standard of care in top cancer centers and solve the acute supply and demand mismatch between patient need and available care providers.
“We are pleased to join Blue Note Therapeutics in this Series A round to help bring this promising technology to cancer patients in need.”
In June last year, the company secured breakthrough device designation from the US Food and Drug Administration (FDA) for BNT001 to treat symptoms of anxiety and depression related to cancer in adult patients.
Blue Note has licencing agreements with various major cancer centres and universities such as the University of Miami, Massachusetts General Hospital, and Memorial Sloan Kettering Cancer Centre for the digitisation of evidence-based cancer-specific therapies.
Last year, the company introduced a digital wellness programme called Covid Cancer Care to support adults with cancer cope with stress and anxiety linked to the Covid-19 pandemic.