Series A financing round lays foundation for international growth of digital cancer therapeutics Mika
New investors with a successful track record in digital oncology support German Digital Therapeutics (DTx) company Fosanis to broaden patient access of Mika - an app-based DTx platform empowering people affected by cancer.
Berlin-based digital health company Fosanis, the developer of Mika, Germany's first prescription DTx for all oncological indications, closed a series A funding round of more than 10 million EUR. Besides existing shareholders such as Ananda Impact Ventures, three new investors joined in the latest financing round: lead investor Swiss company Debiopharm Innovation Fund, Ship2B Ventures from Spain and venture capital firm Equity Pitcher.
As digital therapeutics gain momentum on a worldwide scale, Germany has pioneered the digital therapeutics regulation. Mika has emerged as the leading oncological DTx platform in Germany in recent years proving its value to cancer patients and the healthcare system in clinical trials. The personalised platform delivers evidence-based digital interventions with a view to supporting cancer patients in coping with the challenges of the disease and treatment process.
According to the World Health Organization (WHO), approximately 19.3 million people are diagnosed with cancer worldwide. "Cancer knows no boundaries. Helping people affected by cancer shouldn't either", says Mika Founder and Managing Director Dr Jan Simon Raue. "We have developed Mika to bring back some of the control when guidance and support is most needed: from diagnosis all the way through the therapy process. Our mission is to empower everyone affected by cancer. Knowing that every cancer patient is a human being with individual needs, Mika provides personalised and comprehensive cancer therapy support, combining the latest insights in cancer research with 24/7 hands-on help wrapped up in an easy-to-handle and engaging digital tool."
The capital raised in this series A round will support Mika's expansion into international terrain. While Fosanis reveals its plan to enter the UK healthcare ecosystem still in 2022, it also wants to partner with renowned international cancer research centres to conduct even more studies on the medical impact of AI-driven personalisation in digital interventions. Mika Co-Founder and Managing Director Dr Gandolf Finke: "The importance of digital health and digital therapeutics in particular is growing globally. This financing round marks an important milestone in our company history, allowing us to scale our oncology DTx platform and position our offerings internationally. We welcome our new investors on board and look forward to working closely with them to take Mika to new heights."
Debiopharm is an experienced investor in the digital health domain with a special focus on cancer. Tanja Dowe, CEO of Debiopharm Innovation Fund: "We are convinced that digital solutions can fill many critical gaps in healthcare and, especially with regards to cancer therapy support, provide tremendous relieve for patients and attending physicians alike. Mika promotes patient empowerment and enables those affected to cope with their disease and therapy, independent of time and location. For this very reason, we do not only think of ourselves as mere investors, but we also support the company in strategy and execution and are proud to accompany Mika's further growth."
Ship2B, based in Barcelona, invests primarily in start-ups that have the potential to make a worthwhile and lasting contribution to the world. Impact, i.e., the aspiration to make a real change, is at the forefront of their thinking, as Maite Fibla, Co-Founder and Managing Partner of Ship2B, points out: "We are proud to contribute to the internationalization of Mika, which means being able to improve the quality of life of many more cancer patients. Not only does its mission meet our parameters of what an impact start-up should be, but we have felt fully committed to it. It seems especially significant to us to think that, thanks to what was achieved in the round, there may be the possibility of giving Spain, among other countries, this innovative proposal in oncological therapies."
Andrea Buhofer, Partner at EquityPitcher Ventures, moreover highlights the growing importance of patient-centric solutions in integrative digital oncology: "Personalized, digital and accessible support in cancer therapy is becoming increasingly important. Mika has developed an extremely user-friendly application with in-demand content, and we are very pleased to have been able to support Mika in continuing to grow and make therapy support available to more people."
Alongside the new investors, current shareholders contributed to the funding round, led by impact VC Ananda Impact Ventures and several business angels who had already joined Mika's mission in a previous seed investment round. Dr Bernd Klosterkemper, Partner at Ananda Impact Ventures, explains: "We are a home for entrepreneurs who tackle the pressing challenges of our time in a scalable way. From the very beginning, Mika has been aspiring to create a positive impact on the well-being and quality of life of cancer patients. As its meaningful vision deeply resonates with our ambition to back game-changing and purpose-driven solutions, we are very much looking forward to cementing ties and helping Mika achieve global impact."
Founded in 2017 by Dr Gandolf Finke and Dr Jan Simon Raue, the digital health company Fosanis GmbH pursues the objective of empowering people affected by cancer with the aid of digital technology. To this end, Fosanis GmbH has developed the AI-powered DTx Mika in collaboration with leading oncological research institutions and cancer centres such as the University of Leipzig Medical Center and Charité Berlin. An app-based platform with clinically proven efficacy, Mika became the first and hitherto only 'digital health application' (DiGA) approved for all cancer patients in 2021. Mika is a personalised digital therapeutic (DTx) platform in oncology. Accompanying people affected by cancer over the course of their disease and therapy, Mika combines AI-powered monitoring and coaching, including scientifically tested methods and therapy management techniques. Daily check-ups - so-called ePROs = electronic patient-reported outcomes - allow continuous tracking of distress levels and symptoms, while a personalised coaching programme provides scientifically validated multi-media elements and psychooncological interventions. These include over 800 rigorously validated articles, videos and coping skills training courses - ranging from nutrition recommendations to physical exercise training and mindfulness coaching.
Fosanis is based in Berlin and employs more than 40 people. Further information can be found on www.mitmika.de and www.mikahealth.com
About Debiopharm Innovation Fund
Debiopharm develops, manufactures and invests in innovative therapies and technologies that respond to high unmet medical needs in oncology and bacterial infections. Debiopharm Innovation Fund aims to provide strategic funding and guidance for companies with Smart Data & Digital Health solutions with the ambition to change the way drugs are developed and the way patients are treated. Our growing portfolio company achievements include 18 FDA clearances or CE marks and 2 IPOs along with 3 successful exits from mergers & acquisitions. Since 2018 Debiopharm has invested over USD 150 million, leading the investment rounds of 22 of the past 30 investments. For more information, please visit www.debiopharm.com
About Ship2B Ventures
Ship2B Ventures is a venture capital firm that invests in the best impact startups. As impact investors they seek to generate triple profitability: economic, social and environmental. Ship2B Ventures combine the best of the venture capital world with the impact world, maximizing the financial profitability of their investments with a clear intention to generate, manage and measure their impact. Currently, the investment team has managed 60 million EUR and has participated in more than 25 investment rounds. Qida, Psious, CodeOp or Rosita Longevity are startups invested by Ship2B Ventures. For more information, please visit www.ship2bventures.com
About EquityPitcher Ventures
EquityPitcher is an early-growth Venture Capital firm that supports promising startups from the DACH region. Through close cooperation with renowned industry experts, investors and exit partners, we pave the way for entrepreneurs to attain the three decisive success factors: capital, know-how and network. For more information, please visit www.equitypitcher.com
About Ananda Ventures
Ananda Impact Ventures is the leading impact venture capital fund with a Europe-wide investment mandate. Ananda manages EUR180 million in four core impact funds and is backed by renowned institutional and private investors. Ananda funds technology companies that address the most pressing social and environmental challenges of our time in a scalable and sustainable way. Its active portfolio includes IESO Digital Health (online psychotherapy), Klim (regenerative agriculture) and Ororatech (which uses satellite technology to fight forest fires). For more information on Ananda Impact Ventures, please visit www.ananda.vc
Note to the Editor: If desired, we will gladly connect you with company founders Dr Gandolf Finke and Dr Jan Simon Raue.
The Medical Network
Tel. 040 32 90 47 38 99