Arthro Therapeutics, a Swedish startup which makes a digital evidence-based intervention program for people with osteoarthritis, has raised $2,2 million.
The new investment, which is Arthro’s seed round, was led by Sweet Capital, the fund of the King founders. Also participating in the round were earlier investors such as Dendera Ventures and Incos Invest. Other earlier investors include prolific angel investors such as Sophia Bendz, Hampus Jakobsson and Tim Jackson. Lund University is also among the early backers. This brings the total funds raised by Arthro to $3,2 million.
Arthro’s flagship product Joint Academy is a digitized version of the Swedish evidence-based program BOA (Better Management of Osteoarthritis) which has been completed by over 60 000 patients.
By transferring the medical protocol to a digital context and mining BOA data gathered over years, Arthro has created a proprietary treatment addressing people with joint pain. Harnessing the possibilities of Data and Behavioral Science, Joint Academy has produced clinical outcomes second to none. The company has also researched and published peer reviewed studies which indicate significant outcomes for patients as well as health care providers and payers.
The unprecedented clinical outcomes have enabled Arthro to capture 40% of the private health insurance market for osteoarthritis in Sweden, covered by the major health plans.
”We have shown that we deliver clinical proof and outcomes equivalent to traditional face-to-face treatments, but with half of the resources. This is something we have managed to reproduce with hundreds of patients, and with the new round of funding we will be able to bring our program to thousands of patients. Medicine transformed into software through data science is something we believe will become ubiquitous in the clinical workflow.” – Jakob Dahlberg CEO & Co-Founder
Arthro is currently a 14 person team of Orthopedics professors, PhDs in physical therapy, software engineers, data scientists, designers and seasoned business professionals.