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DoseMe raises $500k to fund global expansion

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16 Jul

DoseMe raises $500k to fund global expansion

launch-admin Jul 16, 2014 0 773

MEDIA RELEASE Brisbane-based startup to revolutionise personalised medicine Brisbane, Australia, 15 July 2014 ­ Personalised medicine startup DoseMe has raised $500,000 from investors to expand in Australia and launch overseas. The Brisbane-based company’s proprietary technology combines complex dosing algorithms with a simple user interface, allowing medical practitioners to accurately and safely prescribe medicines based on each patients individual ability to absorb, process, and clear a drug. Steve Baxter, the primary investor for this round of funding, said that it was encouraging to see a Brisbane-based venture with the potential to improve healthcare on a global scale. ³DoseMe is an Aussie life sciences startup with the potential to significantly improve outcomes for millions of patients. It has an opportunity to transform a critical part of the medical industry, enabling a personalised medicine tool to be implemented easily and rapidly. By helping doctors to implement best practice dosing methods, DoseMe can also help health funds, hospitals and the government reduce the financial cost of adverse outcomes.² he said. ³Most importantly, from an investment perspective, the team behind the business is exceptional. They have in-depth expertise in both the medical industry and technology development, and also have the ability to execute the idea and build a business. It¹s a very exciting Australian company with global ambitions.² Founded by Dr Robert McLeay and Dr Bruce Green, DoseMe is the first mobile and web-based dosing platform to be rolled out at a medical practitioner level. It reduces the need for multiple pathology tests and greatly reduces the chance of a patient having an adverse drug reaction. Across the developed world 20% of all elderly hospital admissions are due to adverse drug events (ADE), 88% of which were deemed preventable. For the general population, one in ten admissions are due to ADE. DoseMe software was initially trialled at the Royal Brisbane & Women¹s Hospital, the largest medical facility in the Southern Hemisphere. Using individual patient details, it creates a custom dosing profile that ensures that doctors can prescribe the correct amount of medication. The platform is intuitive, and learns about an individual patient with each test result. It has been shown to be almost twice as effective as traditional dosing methods. The platform can currently be used for 13 medications across four therapeutic areas: anti-microbial, chemotherapy, anti-coagulants and pro-coagulants. Dr Robert McLeay, co-founder and Technical Director, DoseMe, commented: ³Since we released the DoseMe beta in mid-2013 we have been delighted with the results ­ the data we have collected shows just how effective DoseMe is compared to dosing protocols being used in mainstream healthcare. We now have hospitals, pharmacies and individual doctors using the system in Queensland, Western Australia and Victoria. Future investment rounds will be used to help us scale our business by expanding the product to new medications and also to roll out DoseMe to further international markets. ³We are expecting European regulatory approval in the coming weeks, with approval in the United States by the end of the year.² Dr Michael Barras, Assistant Director, Pharmacy Department, Royal Brisbane & Women¹s Hospital said, ³Patient dosing is complex, DoseMe has made it easy for me to implement personalised medicine at the bedside, which ensures that my patients receive standardised dosing regardless of which doctors are in our hospital. It has transformed dosing into a quick and simple task, and I can see it revolutionising patient dosing around the world². – ENDS – Media contacts Ashford Pritchard, Launch Group E:ashford@launchgroup.com.au ashford@launchgroup.com.au> | M: +61 411 020 680 | T: +612 9492 1040 Louise Proctor, Launch Group E:louise@launchgroup.com.au louise@launchgroup.com.au> | M: + 61 452 505 859 | T: +612 9492 1002. About DoseMe Founded in Brisbane, Australia in 2012, DoseMe is a personalised medicine company that has developed easy-to-use software that makes the complexity of patient dosing simple. Pairing complex algorithms with a simple, app based user interface allows any doctor or pharmacist, regardless of experience to get the right dose every time. DoseMe is available for use by clinicians at the bedside via portable smart-devices, at their desk via rich web-app, as well as being able to be integrated into patient management software. DoseMe supports use by anyone from a single clinician, an entire hospital or a complete national healthcare solution. The product is available to clinicians globally now. For more information: www.doseme.com.au