May 10, 2022

Precision oncology platform OncoHost scores $35 million

Original source here.

Also: Precision oncology platform OncoHost scores $35 million, home care startup Reverence emerges from stealth with $9.5 million and pediatric behavioral health startup Handspring Health completes a $6.2 million seed round.

Mental health EHR Osmind scored $40 million in a Series B funding round led by DFJ Growth.

Other participants include Susa Ventures, General Catalyst, Future Ventures, Tiger Global, Pear VC and angels Lachy Groom, Brent Saunders, Helena Goodman and Ariel Katz.

Osmind offers an EHR tailored to clinicians and researchers using and studying ketamine and other psychedelics, as well as transcranial magnetic stimulation for treatment-resistant depression. The latest round brings the startup's total raise to $57 million.

Osmind said it plans to use the capital to continue to develop and scale its EHR, conduct research with new partners and more than double the size of its team.

"Osmind supports clinicians treating patients with serious and refractory mental health conditions, including severe depression, suicidality, PTSD, substance use disorders, anxiety, OCD and more," cofounder and COO Jimmy Qian said in a statement. "By enabling the serious innovation being led by interventional mental health practices, we are doing our part to help researchers expand better, safer, more effective treatments for patients who need it most."

Israel-based precision oncology platform OncoHost raised $35 million in Series C funding.

The round was led by ALIVE Israel HealthTech VC with participation from Leumi Partners, Menora Mivtachim, OurCrowd and existing investors. The funding will go toward expanding the company's clinical trial using its PROphet platform to better predict a patient's response to cancer treatment.

"This is OncoHost's third and most significant investment round to date, demonstrating the company's maturity, credibility and scalability," CEO Dr. Ofer Sharon said in a statement. "We are honored to be supported by leading local and global investment funds that understand and support our vision to shift the landscape of oncology to a truly personalized approach and want to be part of our journey in revolutionizing cancer care."

Tech-enabled home care startup Reverence emerged from stealth with $9.5 million from a financing round led by Target Global.

Reverence also announced it had acquired automated staffing platform Hirehand. The company works with provider groups to optimize which caregivers they send to a patient's home at the appropriate time. The platform also allows them to share data with other clinicians and family members involved in home care, and creates condition-specific checklists for caregivers.

"We’ve only scratched the surface of how home-based care models can improve and save lives," founder and CEO Lee Hudson Teslik said in a statement. "Our technology provides the connective tissue needed to bridge the gap between hospital and home – unlocking new possibilities and paving the way to a stronger, more sustainable and more clinically effective future for home-based care."

Virtual pediatric behavioral health startup Handspring Health wrapped up a $6.2 million seed round led by Newark Venture Partners and NextView Ventures.

Other participants in the round include 25madison Ventures, Arkitekt Ventures and Quantum Angels. The company currently provides virtual therapy for children between the ages of 10 and 17 in New Jersey. Handspring plans to begin seeing younger patients at in-person clinics in the state. The seed investment is meant to support the process.

The startup also plans to use the funding to hire more clinicians, to invest in their technology and patient experience, to partner with payers, and to expand into new markets.

"The healthcare system is failing our children, as systemic barriers have made it impossible for families to find care that's accessible. When looking for care, families often face unaffordable rates that are not covered by insurance, or waitlists that are several months long," cofounder and CEO Sahil Choudhry said in a statement. "Moreover, most new solutions in the market today are virtual-only; not all children can be treated virtually, and many need more hands-on and in-person attention."

Digital mental health company Meru Health received a $2 million grant from the National Institute of Mental Health to study the effectiveness of its 12-week app-based program for primary care patients.

"The importance of this study is enormous," Dr. Nicholas Peiper, principal investigator and director of research at Meru Health, said in a statement. "We are using gold standard methods to determine the effectiveness of the Meru Health Program. Conducting this study in primary care is also a big step, because the majority of people experiencing depression initially seek care with their primary care provider."

Meru most recently raised $38 million in Series B funding in September.