Propeller Health raises $14.5 million for product development

Propeller Health, along with Safeguard Scientifics and the Social+Capital Partnership, has raised $14.5 million in Series B financing, according to a press release.

The company, which provides a digital therapeutic platform for patients with asthma, COPD and other respiratory diseases, will use the funding to “accelerate product development, strategic alliances, client services, sales and marketing,” according to the release. Propeller Health recently received FDA clearance for an inhaler sensor and is concluding a 500-person randomized control trial, the release said.

“In the last year, individuals, physicians and health care organizations have increasingly recognized the therapeutic potential of digital tools for improving adherence and outcomes,” David Van Sickle, CEO and co-founder of Propeller Health, said in the release. “Together we aim to change the day-to-day life of people with chronic respiratory disease and the physicians who care for them.”

“Propeller Health has positioned itself at the intersection of diagnostics and data-driven outcomes management — an area in which Safeguard sees tremendous opportunity,” Gary J. Kurtzman, MD, managing director, Healthcare at Safeguard, who will be joining Propeller Health’s board of directors, said in the release. “We’re excited to partner with the Social+Capital Partnership again to support a strong and growing management team and a visionary company in the digital health space.”

Propeller Health also named Chris Hogg as chief operating officer, according to the release. Hogg was CEO and co-founder of 100Plus, a mobile health company.