Navigation Links
ZappRx raises $25 million in Series B funding led by Qiming US Healthcare Fund with Participation from SR One and GV
Date:4/20/2017

BOSTON, April 20, 2017 /PRNewswire/ -- ZappRx, Inc., a digital health company focused on modernizing and expediting the specialty drug prescribing process, today announced it closed $25 million in Series B funding led by Qiming US Healthcare Fund, a venture capital firm based in Seattle that is part of a broader family of Qiming Venture Partners. The Series B round included participation from SR One, who led ZappRx's Series A round in 2014, and GV (formerly Google Ventures). As part of the financing, Mark McDade, Managing Partner at Qiming US, will join ZappRx's Board of Directors.

The investment comes at a key time of growth for Boston-based ZappRx, and for the specialty drug market overall. In the past five years, the $100 billion market for specialty drugs has nearly doubled1 and is projected to reach $400 billion by 2020.2 The ZappRx platform is currently being used in several prominent academic medical centers and large multi-specialty practices in the US. This investment will help accelerate the product's launch into this growing market in dire need of innovative IT solutions.

ZappRx relieves administrative challenges for healthcare providers and specialty pharmacists who manage the care of patients requiring specialty medications. The cloud-based platform streamlines what is currently a multi-step, manual prescribing process, often involving multiple platforms for each of several treatments, into a single, digitally-enabled format. This allows providers who treat complex conditions in categories like oncology, pulmonology, rheumatology, neurology and gastroenterology to focus more on patient care and less on the paperwork required for getting patients on therapy. 

In addition to greatly reducing the workload for providers, payers, pharmacists, and patients, there is a significant unmet need for rich, real-time data for specialty biopharma companies. ZappRx believes that its platform could enable new insights for biopharmas based on real-time longitudinal and disease area data capture.

"We are excited to have top tier investors, Qiming US, SR One, and GV stand behind our product and our vision to transform specialty drug prescribing," said ZappRx Founder and CEO Zoë Barry.

"ZappRx has created a unified platform that we believe will dramatically transform the ecosystem experience around specialty drugs to benefit providers, payers, pharmacists, patients, and biopharma manufacturers," said Mark McDade, Managing Partner at Qiming US.

About ZappRx
ZappRx is modernizing and simplifying the way specialty medications are managed. The company provides a secure, collaborative online platform that allows patients, physicians and pharmacists to work together to improve patients' access to treatment, delivering medicine faster, with fewer hassles and greater transparency. Follow ZappRx on Twitter at twitter.com/zapprx.

About Qiming
The Qiming U.S. Healthcare Fund, LP is a new US healthcare venture fund headquartered in Seattle, WA with offices in Palo Alto, CA and Cambridge, MA. As part of a broader family of Qiming venture funds, this new fund seeks to invest in US-based human healthcare companies with potential market opportunities in China.  Focused areas of interest are bio-therapeutics, medtech and digital health technologies, with equity investments ranging from $5 to $12 million. 

1 IMS Health, "IMS Health Study: U.S. Drug Spending Growth Reaches 8.5 Percent in 2015," (2016) 2 UnitedHealth Center for Health Reform and Modernization
3 * Survey conducted by Deerfield, "Internal ZappRx Company Report," (2015).

CONTACT: Chrysta Olson, 617-844-0989 ext. 108, press@zapprx.com

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/zapprx-raises-25-million-in-series-b-funding-led-by-qiming-us-healthcare-fund-with-participation-from-sr-one-and-gv-300442534.html


'/>"/>
SOURCE ZappRx
Copyright©2017 PR Newswire.
All rights reserved


Related medicine technology :

1. ZappRx announces new prior authorization partnership with PARx Solutions
2. Twist Bioscience Raises $33 Million
3. Cardiva Medical Raises $30 Million
4. Medin Successfully Recapitalizes and Raises New Capital With Financial Partner
5. SCPC Praises Collins/Loebsack Bill Boosting Generic Prescription Drug Payment Transparency
6. Nido Surgical Raises $1.3M Series A Led By Broadview Ventures
7. AirXpanders Raises A$45 Million ($34 Million USD) in Private Placement
8. ViewRay Raises $26.1 Million in Private Placement
9. AMCP Praises FDAs Guidance on Communications Between Biopharmaceutical Companies and Population Health Decision Makers; Guidance Largely Aligns With AMCP Recommendations
10. SCPC Praises Final FDA Repackaging Guidance Recognizing LTC Pharmacies Unique Value in U.S. Health Care Continuum
11. Macrophage Pharma Raises £9 Million in Series A Financing and Acquires Immune-oncology Technology Platform
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/30/2021)... ... March 29, 2021 , ... The University of Texas Health Science Center ... San Antonio Multispecialty and Research Hospital, a destination center for research and treatment of ... In a nod to the COVID-19 pandemic, the ceremony was held virtually. , William ...
(Date:3/30/2021)... ... March 29, 2021 , ... Iora Health ... primary care, has partnered with Devoted Health , one of the fastest-growing ... across Maricopa County and provides seniors with the highest-quality care and experience possible, ...
(Date:3/30/2021)... CITY (PRWEB) , ... March 29, 2021 , ... ... has joined the Vaccine Credential Initiative (VCI), a group bringing together leading health ... record of vaccination status, based on open, interoperable standards. By joining the VCI ...
Breaking Medicine Technology:
(Date:3/30/2021)... , ... March 29, 2021 , ... ... the 21st Century , A Virtual Workshop Presented by WCG FDAnews and Cerulean ... 4:30 pm EDT, https://wcg.swoogo.com/modern-sop-and-quality-systems , Are one’s SOPs written for the ...
(Date:3/30/2021)... ... March 29, 2021 , ... According to data released ... reproductive age (13-44) in need of publicly funded contraception live in counties impacted by ... Colorado’s 64 counties have lost some of their Title X resources. , The ...
(Date:3/30/2021)... ... March 29, 2021 , ... Health Literacy Innovations (HLI), a ... confusion due to low health literacy today announces a new partnership with the ... work with ACAP’s member Safety Net Health Plans, those that provide comprehensive health ...
(Date:3/30/2021)... ... ... Dr. Colin Campbell is proud to announce the 1 year anniversary in their new state ... internal medicine and is a primary care specialist who has been practicing for 23 years. ... keep South Jersey healthy one patient at a time. , “Over the past year, Dr. ...
(Date:3/30/2021)... ... March 30, 2021 , ... The COVID-19 ... and survivors; their families; and their caregivers. Crossroads4Hope is addressing the needs of ... emotional support system, MyGo2Support, which meets needs of people impacted by cancer, no ...
Breaking Medicine News(10 mins):