NuvoAir, a Boston, MA- and and Stockholm, Sweden-based digital health company, raised $12m in Series A funding.
The round was led by AlbionVC, with participation from KAYA (formerly Enern), Amino Collective and existing shareholders Spiltan, Industrifonden and Novartis Pharma AG (dRx Capital).
The company intends to use the funds to accelerate the expansion of the NuvoAir digital care platform in the U.S. and Europe; advance the development of new products and services; and support its partner and customer base for decentralized clinical trials around the world.
Led by Lorenzo Consoli, Founder and Chief Executive Officer, NuvoAir is a digital health company for chronic disease management and decentralized clinical trials. The platform combines connected devices with care coordination services to enable patients suffering from COPD, asthma, cystic fibrosis, amyotrophic lateral sclerosis (ALS), and idiopathic pulmonary fibrosis (IPF) and their providers to proactively manage chronic conditions. NuvoAir Home currently supports thousands of patients worldwide with COPD, cystic fibrosis, severe asthma, IPF, ALS, and muscular dystrophy. Its decentralized clinical trial solution has been used in over 30 studies globally across all phases of drug development. The latest addition to this platform is NuvoAir Cough, released last month, which assesses changes in nighttime coughing.
To date, the company has partnered with providers across the U.S., U.K. and Europe, including Harvard Boston Children’s Hospital, New Hampshire’s Dartmouth-Hitchcock Medical Center, Royal Brompton Hospital, King’s College Hospital in London, as well as pharmaceutical companies Roche, Regeneron and Novartis.
Concurrent with the financing, Gary Kurtzman, MD, has been appointed as NuvoAir’s Chairman of the Board.
