Treato Raises $14.5m from OrbiMed, New Leaf and Reed Elsevier
Proceeds to Expedite Commercialization of Treato Pharma Offering and US Expansion, Bringing ‘Voice of the Patient’ to Healthcare Stakeholders
Tuesday, April 23, 2013 — Treato, the social health patient intelligence provider, announced today that it has secured $14.5 million in funding. The round was led by OrbiMed Israel Partners and New Leaf Venture Partners and joined by current investors Reed Elsevier Ventures, Dr. Shmuel Cabilly and Western Technology Investments.
Treato combines patented Natural Language Processing algorithms, patient language dictionaries and Big Data analytics to distil real-time patient insights from social media. To date, Treato has aggregated and analyzed more than 1.3 billion patient conversations about 24,000 drugs and conditions from thousands of sites.
Treato offers these insights to both patients and healthcare professionals. The company’s site, http://treato.com, with more than 3 million monthly visits, provides drug and condition information for patients, while its industry-oriented service, Treato Pharma (http://treato.com/pharma), offers subscription-based deep patient analytics for pharmaceutical professionals. Among other things, Treato Pharma enables monitoring competitive position, learning reasons behind drug switching behavior and uncovering adherence obstacles.
“We bring the voice of the patient to the forefront,” said co-founder and Executive Chairman, Gideon Mantel. “Dynamics in the healthcare market are changing rapidly, and patients are participating in healthcare decisions more than ever before. It is crucial for a whole host of constituents, including the patients themselves, pharmaceutical companies and payors, to understand what patients are saying about their experiences.”
“Treato is already helping pharmaceutical clients and their marketing agencies identify market opportunities and challenges by drawing new insights from patient conversations online,” added Ido Hadari, Treato’s CEO. “Treato’s ‘voice of the patient’ creates a unique opportunity for delivering better care, driving higher business performance and deepening the connection between pharmas and patients”.
“We are very excited about Treato and its potential,” said Anat Naschitz, Managing Director at OrbiMed. “Treato can have a real impact on how pharmaceutical companies hone their marketing and development efforts, how payors monitor safety and efficacy and how patients learn about their treatment options.”
“Treato brings something unique to the healthcare industry,” said Philippe Chambon, Managing Director of New Leaf Venture Partners. “Treato was among the first to recognize the importance of listening to patients, and has been able to build effective technology and a great team to tap into it, creating an attractive business.”