LONDON, May 4, 2020 /PRNewswire/ -- Hikma Pharmaceuticals
PLC announces that its venture capital arm, Hikma Ventures has
invested in Altoida, Inc. following the company's $6.3 million Series A round in 2019.
Altoida is a health technology firm with an FDA-cleared and CE
Mark-approved medical device and brain health data platform
designed to support the early detection of Alzheimer's disease up
to ten years prior to onset – with up to 94% accuracy. Altoida's
technology offers health care professionals a novel way to use
active digital biomarkers and the latest advancements in artificial
intelligence, machine learning and augmented reality to classify
patients' risk of Mild Cognitive Impairment (MCI) due to
Alzheimer's Disease (AD) and drive better clinical outcomes for
brain diseases.
Altoida's key product, the Altoida Neuro Motor Index (NMI),
analyzes visuospatial and executive function during complex
activities of daily living through a battery of tests that ask
patients to hide and seek virtual objects in a real-life
environment. The company has validated its platform and methodology
in more than 12 peer-reviewed journal publications and in more than
200 independent studies. It is currently being used in clinics
across the US, Japan, Europe and Brazil.
"We are excited to invest in Altoida and their digital health
technology, which is helping patients and health care providers by
reinventing digital biomarkers to drive better clinical outcomes
for brain disease," said Lana
Ghanem, Managing Director of Hikma Ventures. "This is the
latest example of Hikma Ventures' commitment to supporting
innovative companies utilizing machine learning and other
cutting-edge technologies to meaningfully improve patients'
lives."
"Hikma Ventures is the perfect addition to our investor
syndicate and we are extremely happy to have such an experienced
partner on board, who has a remarkable expertise and reputation in
the industry," commented Dr. Richard
Fischer, President & CEO of Altoida Inc. "Altoida is in
the middle of a dynamic phase to execute on our clearly defined
commercial strategy and Hikma's investment will play an integral
part of our business success in the focus markets USA, Japan
and Europe."
The number of people living with Alzheimer's disease is rapidly
growing. In 2019 alone, Alzheimer's disease and other dementias
cost the US $290 billion. By 2050,
these costs could rise as high as $1.1
trillion, according to the 2019 Facts and Figures report of
the Alzheimer's Association1. Yet, research shows 1 in 3
dementia cases are preventable if diagnosed before permanent and
irreversible brain damage occurs.
Investor
Enquiries
|
|
Hikma
Ventures
|
|
Lana
Ghanem
|
lana@hikmaventures.com
|
Managing Director,
Hikma Ventures
|
+962 6 580
3100
|
Media
Enquiries
|
|
Hikma
Pharmaceuticals PLC
|
|
Steve
Weiss
|
+1 732 720 2830/ +1
732 788 8279
|
David
Belian
|
+1 732 720 2814/+1
848 254 4875
|
US Communications and
Public Affairs
|
uscommunications@hikma.com
|
Altoida,
Inc.
|
|
Emily
Brady
|
emily@bradypr.com
|
BPR
|
+1 415 606
9350
|
About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC:
HKMPY), (rated Ba1/stable Moody's and BB+/positive S&P)
Hikma helps put better health within reach every day for
millions of people in more than 50 countries around the
world. For more than 40 years, we've been creating
high-quality medicines and making them accessible to the people who
need them. Headquartered in the UK, we're a global company
with a local presence across the United States (US),
the Middle East and North Africa (MENA) and Europe, and we use our unique
insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're
committed to our customers, and the people they care for, and by
thinking creatively and acting practically, we provide them with a
broad range of branded and non-branded generic medicines.
Together, our 8,400 colleagues are helping to shape a healthier
world that enriches all our communities. We are a leading
licensing partner, and through our venture capital arm, are helping
bring innovative health technologies to people around the
world. For more information, please
visit www.hikma.com.
About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the
corporate venture capital arm of Hikma Pharmaceuticals. Hikma
Ventures invests in global start-ups where Hikma's expertise can
accelerate revenue growth and enhance value creation by providing
ventures with access to the resources of a multinational
pharmaceutical company.
For more information, please visit www.hikmaventures.com.
About Altoida, Inc.
Altoida Inc. is a health
technology firm that uses active digital biomarkers and
cutting-edge technology in Artificial Intelligence (AI) and
Augmented Reality (AR) to classify patients' risk of Mild Cognitive
Impairment (MCI) due to Alzheimer's Disease (AD) and drive better
clinical outcomes for brain diseases. Led by an international team
of esteemed neuroscientists, computer scientists and medical
business professionals, the company offers an FDA-cleared and CE
Mark-approved medical device and brain health data platform to
support early detection of Alzheimer's disease up to ten years
prior to onset – with up to 94% accuracy. The company is privately
held and supported by the current investor syndicate of M-Ventures
(lead investor), GreySky Venture Partners, FYRFLY, VI Partners.
Altoida has offices in Houston,
San Diego, and Lucerne, Switzerland. For more information, please
visit www.altoida.com and follow us on LinkedIn
https://www.linkedin.com/company/altoida.
1 https://www.alz.org/media/Documents/alzheimers-facts-and-figures-infographic-2019.pdf
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SOURCE Hikma Pharmaceuticals USA Inc.