Clarify Medical Closes $18M Series A Round to Commercialize its Connected Home Phototherapy System in the U.S.
SAN DIEGO--(BUSINESS WIRE)--Oct 23, 2019--
Clarify Medical announced today that it has closed an $18M Series A financing round with participation from H.I.G. BioHealth Partners, 7wire Ventures, SV Health Investors, and Bluestem Capital. The proceeds of the round will be used for the commercialization and further development of the Clarify Home Light Therapy System for the treatment and monitoring of patients with chronic skin conditions.
Michael Wasserman, Managing Director of H.I.G. BioHealth Partners; Robert Garber, Partner at 7wire Ventures; and Paul LaViolette, Managing Partner and Chief Operating Officer of SV Health Investors, will join the company’s board of directors, effective immediately.
“Clarify Medical has attracted a strong syndicate of leading medical technology and digital health investors to fuel its commercialization efforts,” said Dr. Wasserman. “The significant technological advances of the Clarify System will enable patients with chronic skin diseases like psoriasis, vitiligo, and eczema to safely and effectively manage their conditions at home, while remaining connected to their physicians via Clarify’s cloud connectivity. The approach has tremendous benefit for patients, physicians and healthcare providers.”
The Clarify System, which has been cleared by the FDA, is indicated for localized phototherapeutic treatment of dermatologic conditions such as psoriasis, vitiligo, atopic dermatitis (eczema), seborrheic dermatitis, and leukoderma on all skin types (I-VI). It is the first and only connected phototherapy system that uses an app on the patient’s own smartphone (iOS or Android) to manage the dose, frequency, and duration of targeted narrowband UVB (NB-UVB) light therapy; the System helps to ensure that patients receive the proper doses recommended by the American Academy of Dermatology in its published Guidelines of Care for the Management of Psoriasis and Psoriatic Arthritis and The Vitiligo Working Group Recommendations for NarrowBand Ultraviolet B Light Phototherapy Treatment of Vitiligo.
The treatment regimen is prescribed by the patient’s physician but monitored and controlled by the Clarify System, enabling patients to administer treatment with clinical precision and achieve clinical efficacy in the convenience of their homes. The connected system monitors dosing, adherence, compliance, patient progress, and satisfaction.
There are 30 million people in the U.S. with psoriasis, vitiligo, and eczema and approximately 5,400 medical dermatologists who help these patients treat and manage their conditions.
“We are very pleased to have such high-caliber investors join our board,” said George Mahaffey, President & CEO of Clarify Medical. “In the brief time the Clarify System has been commercially available, we’ve established Medicare coverage and have helped many patients self-manage their chronic skin conditions at home. With this funding, we are now poised to fully launch the System in the U.S. by improving market access and building awareness within the medical dermatology community that there is now a home phototherapy option that patients can use safely and effectively.”
About Clarify Medical, Inc.
Clarify Medical is a private San Diego-based medical device company focused on developing innovative technology, products, and services that improve care for people with chronic skin conditions. Its Clarify Home Light Therapy System is now available nationally in the U.S. Learn more at www.clarifymed.com.
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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
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SOURCE: Clarify Medical
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PUB: 10/23/2019 09:00 AM/DISC: 10/23/2019 09:01 AM