San Francisco-based startup Myia Labs has raised $6.75 million in seed funding to further develop its patient-monitoring platform, according to a report by Yahoo Finance.
The platform uses personal and health data from wearable devices to monitor chronically ill patients. With help from machine learning and AI techniques, the platform tries to predict if a patient will relapse before it actually happens.
The company has partnered with the American College of Cardiology to further expand the platform. The funding round was led by two Silicon Valley AI funds, BootstrapLabs and Zetta Venture Partners.
The funding will allow Myia Labs to acquire enough healthcare data to build out its platform, according to Yahoo. Additionally, the firm is planning to announce partnerships with two large U.S. healthcare providers in the near future.
“The funding gives us two years of runway,” Myia Labs CEO Simon MacGibbon told Yahoo. “Acquiring the data in healthcare and capturing the requisite endpoints to train algorithms is not straightforward or cheap.”
The effort is a part of an overarching goal to reduce emergency hospital visits for patients with chronic and post-operative conditions, the report stated. In a recent study, University of Oxford researchers were able to predict a patient’s risk of being admitted into emergency care by using machine-learning techniques with electronic health records (EHRs).
“We think that remote patient monitoring is going to be a big deal,” MacGibbon said. “How on earth can healthcare providers be successful if they don’t know what’s happening to their patients 99.9 [percent] of the time?”
“Through our collaboration with Myia, we are developing tools for clinical teams to monitor and improve their patients’ health status,” John Rumsfeld, MD, cardiologist and chief innovation officer of the American College of Cardiology, told Yahoo.
To read the full report, click the link below.
Danielle covers Clinical Innovation & Technology as a senior news writer for TriMed Media. Previously, she worked as a news reporter in northeast Missouri and earned a journalism degree from the University of Illinois at Urbana-Champaign. She's also a huge fan of the Chicago Cubs, Bears and Bulls.