Treato Raises $14.5m from OrbiMed, New Leaf and Reed Elsevier
Proceeds to Expedite Commercialization of Treato Pharma Offering and US Expansion, Bringing ‘Voice of the Patient’ to Healthcare Stakeholders
Yehud, Israel – April 23, 2013 – Treato, the social health patient intelligence provider, announced today that it has secured $14.5 million in funding. The round was led by OrbiMed Israel Partners and New Leaf Venture Partners and joined by current investors Reed Elsevier Ventures, Dr. Shmuel Cabilly and Western Technology Investments.
Treato combines patented Natural Language Processing algorithms, patient language dictionaries and Big Data analytics to distil real-time patient insights from social media. To date, Treato has aggregated and analyzed more than 1.3 billion patient conversations about 24,000 drugs and conditions from thousands of sites.
Treato offers these insights to both patients and healthcare professionals. The company’s site, http://treato.com, with more than 3 million monthly visits, provides drug and condition information for patients, while its industry-oriented service, Treato Pharma (http://treato.com/pharma), offers subscription-based deep patient analytics for pharmaceutical professionals. Among other things, Treato Pharma enables monitoring competitive position, learning reasons behind drug switching behavior and uncovering adherence obstacles.
“We bring the voice of the patient to the forefront,” said co-founder and Executive Chairman, Gideon Mantel. “Dynamics in the healthcare market are changing rapidly, and patients are participating in healthcare decisions more than ever before. It is crucial for a whole host of constituents, including the patients themselves, pharmaceutical companies and payors, to understand what patients are saying about their experiences.”
“Treato is already helping pharmaceutical clients and their marketing agencies identify market opportunities and challenges by drawing new insights from patient conversations online,” added Ido Hadari, Treato’s CEO. “Treato’s ‘voice of the patient’ creates a unique opportunity for delivering better care, driving higher business performance and deepening the connection between pharmas and patients”.
“We are very excited about Treato and its potential,” said Anat Naschitz, Managing Director at OrbiMed. “Treato can have a real impact on how pharmaceutical companies hone their marketing and development efforts, how payors monitor safety and efficacy and how patients learn about their treatment options.”
“Treato brings something unique to the healthcare industry,” said Philippe Chambon, Managing Director of New Leaf Venture Partners. “Treato was among the first to recognize the importance of listening to patients, and has been able to build effective technology and a great team to tap into it, creating an attractive business.”
Treato generates the ‘Voice of the Patient’ by collecting and analyzing billions of online patient conversations in real-time and on a massive scale. The Treato patient intelligence platform offers both patients and healthcare stakeholders unique insights based on the aggregated wisdom of the crowd through its free patient site, treato.com, and its professional service offering, Treato Pharma, covering over 1.3 billion patient discussions about 24,000 drugs and conditions. Treato was co-founded by Gideon Mantel, Dr. Itzchak Lichtenfeld and Jacob Sabo. http://treato.com
OrbiMed Advisors LLC is a leading investment firm dedicated exclusively to the healthcare sector, with approximately $7 billion in assets under management. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies, in a variety of sub-sectors including biopharmaceuticals, medical devices and health IT. OrbiMed’s team of over 60 professionals manages a series of private equity funds, public equity funds, royalty funds and other investment vehicles. The firm operates out of five offices – New York, Tel Aviv, San Francisco, Shanghai and Mumbai. OrbiMed Israel Partners was launched in 2011 with $222 million in committed capital and focuses on Israeli opportunities. http://www.orbimed.com
About New Leaf
New Leaf Venture Partners is a leader in healthcare technology venture investing. Our investment professionals bring a unique blend of technical, clinical, and operational experience to our investments, working closely with our entrepreneurs and management teams to help build successful companies. We invest in both public and private later stage biopharmaceutical companies as well as in healthcare-related information technology companies. We also invest in commercial-stage medical device companies. New Leaf currently manages $1 billion in assets. This includes our newest fund, New Leaf Ventures II, L.P., which closed with commitments of $450 million in October 2007, New Leaf Ventures I, L.P., and the healthcare technology portfolio of the Sprout Group, one of the oldest U.S. venture capital fund groups. For more information please visit http://www.nlvpartners.com
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