Participated · Equity · Apr 2022

Alex Therapeutics builds prescription digital therapeutics on its "Alex DTx Platform," combining AI, evidence-based psychology (primarily CBT and ACT), and design to create personalized, indication-specific treatments. The company typically partners with pharmaceutical firms to develop and launch prescription DTx that can be prescribed by doctors and reimbursed by healthcare systems. Alex Therapeutics has treated tens of thousands of patients and has experience with clinical validation and strong patient testimonials. Strategic partnerships with Pfizer (nicotine addiction) and Vicore Pharma (anxiety in pulmonary fibrosis) are underway. The company says the new funding will enable entry into additional global partnerships and development of DTx across addiction, mental health, and chronic illness. Alex Therapeutics is a Stockholm-based digital therapeutics company that provides a platform to help pharma and life-science partners create and launch prescription digital therapeutics. The company’s platform is used to develop therapeutics across indications; its pipeline includes Eila, a nicotine addiction therapeutic developed with Pfizer that is currently in clinical trials and initially targeted at the German market. Other pipeline products include an anxiety and depression therapeutic for patients with idiopathic pulmonary fibrosis, a CBT-based tool for obesity, and a depression and anxiety therapeutic for breast cancer patients. The startup said it raised €3.5 million in a financing led by Hadean Ventures and will use the funds to expand growth in Europe and the U.S. and to develop new digital therapeutics with partners. Investors in the round included Scale Capital, Bonit Capital and previous investor Sweet Studio. Hadean managing partner Dr. Ingrid Teigland Akay highlighted that major markets such as Germany and the U.S. are opening up for prescription and reimbursement of digital therapies, supporting the company's expansion plans.