Digital Therapeutics aims to address the rising cost of preventable chronic diseases with digital therapeutic interventions. The company's first product, QuitGenius, specifically tackles smoking, delivering highly personalised behavioural therapy to smokers trying to quit.
Digital Therapeutics completed its SyndicateRoom round in October 2017, raising £404,794. This was an EIS investment opportunity.
Digital Therapeutics aims to address the rising cost of preventable chronic diseases with the use of cost-effective, evidence-based digital therapeutic interventions.
The company’s first product, Quit Genius, seeks to address the largest cause of preventable morbidity and premature mortality worldwide: smoking. Tobacco use results in nearly 6m deaths per year worldwide, predicted to rise to more than 8m by 2030. In November 2017, Quit Genius was awarded The People's Choice award at the Duke of York's Pitch@Palace event. Pitch@Palace is one of the most prestigious startup competitions run in the UK with over 4,500 applicants and it was a great honour for the company to win the award against stiff competition.
Digital Therapeutics was founded by doctors from Imperial College London. As clinicians in training, they noted that evidence-based behavioural therapy, essential to prevent disease, could not be prescribed in the same way as their pharmacological counterparts. This led the founding team to believe that cost-effective and evidence-based digital therapeutic interventions held the key to reducing the burden of chronic disease.
Digital Therapeutics aims to become a leader in the nascent digital therapeutics market by building the first intelligent virtual therapy platform that is truly personalised to an individual's thoughts and behaviours, helping users not just quit smoking, but manage other addictions and their mental health.
Digital Therapeutics plan to use funds raised primarily in order to support product development and drive growth across sales and marketing.
Dr Yusuf Sherwani holds dual degrees in Medicine and Business Management from the Imperial College School of Medicine, and Imperial College Business School respectively. A serial entrepreneur and self-taught web programmer, he founded and exited an online social network startup aged 14, and prior to medical school ran a consumer electronics and e-commerce business.
The lead investor
Damien is a medical professional who has built a successful career in healthcare management, having previously worked as Managing Director of UK Insurance, Bupa and subsequently as Chief Executive of Global Health at AXA.
He has built and led organisations in healthcare across four different countries over a period of 24 years. Damien is a passionate believer in health and managing the health of populations. He has witnessed the development of digital health and the importance it plays in managing healthcare delivery, quality and cost.
Digital Therapeutics is tackling a tough challenge of changing behaviour and addressing a key healthcare need, management of addiction. Smoking is one of the key addictions that lead to disease. Yusuf has created a board structure early to help manage the strategic development alongside the financial development of Digital Therapeutics. This will help him and his management keep the right balance.
Dr Damien Marmion, Digital Therapeutics lead investor
What investors say
'As a tech lawyer with an interest in health tech, for me Digital Therapeutics has a very well thought through business model, partnerships and plan for growth.'
– Krishna S, investing in this round
'The unique combination of professional, clinically proven therapy with gamified consumer UI and the application of machine learning makes quit genius a hot product!'
– Nayemul C, investing in this round