Healthcare technology firm RDMD has secured $3m seed funding to further develop its technology platform, which generates deep data insights to accelerate rare disease research and drug development.
Image: RDMD has secured $3m seed funding to further develop disease research and drug development platform. Photo: courtesy of Toeytoey / FreeDigitalPhotos.net.
RDMD has received funds under the seed financing round led by Lux Capital, and participants include Village Global, First Round’s Healthcare Co-Op, Garuda, Shasta Ventures and various angel investors from the biotech and healthtech industry.
The company developed a technology platform, which generates deep data insights to enhance rare disease research and drug development, as well as patient application to get access and benefit from their own medical data.
The company will use the funding to further develop its platform and expand the leadership team to support demand and growth.
It will also use the funding to generate quality data, expand into new rare conditions and work with partners to advance their research and development programs.
RDMD is also planning to collaborate with rare disease biopharmaceutical firms to offer deep clinical electronic health record (EHR) data collected from patients, rare disease doctors, and foundations.
The firm’s research-and-regulatory-grade evidence database will provide insights on natural history, endpoint selection and helps in evidence generation for regulatory submissions.
RDMD’s technology platform can be used to transform unstructured data from medical records into disease-specific data models, which can be readily analyzed.
The firm’s technology is said to enable audit-trails and links to original source documents for better compliance and quality control.
At present, the company is working with researchers at the National Cancer Institute to track pain symptoms in people with a type of neurofibromatosis known as NF1.
In addition, RDMD collaborated with the Children’s Tumor Foundation to generate real world evidence from NF patient medical records across all forms of neurofibromatosis, including NF1, NF2 and schwannomatosis.
The company is also planning to expand into rare neurological and inherited metabolic diseases.
RDMD founder, chairman and product head Onno Faber said: “RDMD was born out of my own personal journey with a rare disease called neurofibromatosis type 2, a disease that affects only 1 in 30,000 people.
“I’ve been developing technology products my entire life, and I wondered if we could marry a powerful data and analytics platform with patient data to gain insights into rare diseases.”