Noom competitor OurPath rebrands as Second nature, creates $10 M Series A

Back in 2018, OurPath emerged as a startup in the U.K. tackling the problem of diabetes. The company helped clients fight the disease, and raised a$ 3 million round of funding by combining advice from health experts with tracking technology via a smartphone app to help people build healthy habits and lose weight.

Now rebranded as Second Nature, it has raised a fresh $10 million in Series A funding.

New investors include Uniqa Ventures, the venture capital fund of Uniqa, a European insurance group, and the founders of mySugr, the digital diabetes management platform, which was acquired by health giant Roche.

The round also procured the backing of existing investors including Connect and Speedinvest, two European seed funds, and Bethnal Green Ventures, the early-stage Impact investor, as well as angels including Taavet Hinrikus, founder of TransferWise.

This new injection takes the total investment in the company to $ 13 million.

Competitors to the company include Weight Watchers and Noom, which provides a similar program and has raised $ 114.7 million.

Second Nature claims to have a different, more intensive and personalized approach to create habit change. The startup claims 10,000 of its participants exposed an average weight loss of 5.9 kg at the 12 -week mark. Separate peer-reviewed scientific data published by the company showed that much of this weight-loss is sustained at the six-month and 12 -month mark.

Under its former guise as OurPath, the startup was the first” lifestyle change program” to be commissioned by the NHS for diabetes management.

Second Nature was founded in 2015 by Chris Edson and Mike Gibbs, former healthcare strategy consultants, who designed the program to provide people with personalized support in order to construct lifestyle changes.

Participants receive a situate of “smart” scales and an activity tracker that links with the app, allowing them to track their weight loss progress and daily step count. They are placed in a peer supporting group of 15 people starting simultaneously. Each group is coached by a qualified dietitian or nutritionist, who offer participants with daily 1:1 advice, subsistence and motive via the app. Throughout the 12 -week program, people have access to healthy recipes and daily articles encompassing topics like dinner planning, how to sleep better and overcoming emotional eating.

Gibbs said: “Our goal at Second Nature is to solve obesity. We need to rise above the confusing health misinformation to provide clarity about what’s really important: altering habits. Our new brand and investment will help us realize that.”

Philip Edmondson-Jones, investment administrator at Beringea, who led the investment and joins the board of directors of Second Nature, said: “Healthcare systems are struggling to cope with spiraling rates of obesity and associated maladies, which are projected to cost the global economy $ 1.2 trillion annually by 2025. Second Nature’s pioneering approach to lifestyle alter empowers people to address these conditions.”

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Digital therapeutics are just what the doctor ordered for patients — and for global healthcare systems

It would be hard to argue that digital products have a net-positive impact on our health. Most are designed to provide the same dopamine hitting as a slot machine. We all know someone who wasted their youth playing games that were designed to be all-consuming, with the World Health Organization recently going so far as to categorize video game addiction as a mental health disorder.

But this habit-forming power of digital products can be used for therapeutic benefit too, often by changing the behavior that causes disease or ill health. This new range of products is being usually referred to as digital therapeutics . These apps and services offer evidence-based and personalized behavioral therapy, and cater to a broad cross-section of illnesses and conditions — from diabetes to loneliness, and everything in-between.

Given the difficulty developing traditional therapeutics, the likelihood of the next blockbuster therapy or remedy emerging from digital therapeutics is ever-increasing. And thanks to their low cost, adaptability and speed-of-deployment, they could have a transformative impact on millions of lives, and on ailing healthcare systems.

I live and work in the U.K ., so I will be using the NHS as a recur reference point in this article — however, fee-for-service, or value-based healthcare systems equally stand to benefit.

Digital therapeutics work for patients…

A range of startups are resulting the charge in digital therapeutics, tackling some of the biggest problems facing patients and our healthcare system today. And the evidence proves that these treatments work.

Type 2 diabetes, the type decided largely by diet and lifestyle, has been called the” scourge of the 21 st century” by the Royal College of Physician. And rightly so: the NHS spends around PS12 billion annually, or 10 percent of its budget, treating the condition. However, in many cases, lifestyle change alone is enough to prevent, or even cure it. OurPathhas developed a digital program that does precisely that, with a recent study reveal a mean 7.5 kg weight loss in participants, which is enough to set form 2 diabetes sufferers into remission.

Another leader is QuitGenius, whose app helps 36 percentage of its users to quit smoking totally — versus only 3 percent of smokers who are able to quit on their own. Smoking is a massive burden on our collective health, and global healthcare systems. In the U.K. alone, smoking cigarettes led to an estimated 16 percentage of all deaths.

While one in four of us suffer from a mental health condition, we can all benefit from looking after our mental well-being.

For those suffering from a mental health condition, Iesohas been a leader in delivering psychological therapies digitally, and has shown that standard treatments( like cognitive behavioral therapy) are more effective when delivered digitally( e.g. via messaging app) than in person.

However, while one in four members of us suffer from a mental health condition, we can all benefit from looking after our mental well-being. Newer entrants like HelloSelfare helping all of us be our best egoes, initially by providing digital access to therapists, and by house an AI life coach that helps us deep are aware that constructs us happy, and what we can do to improve our mental well-being.

Other players, like Soma Analytics, Unmindand SilverCloud, are helping users look after our mental well-being where most feel most emphasized: at work. The data behind these products demonstrates a triple win: a reduction in stress levels for employees, boosted productivity for employers and reduced burden on our public healthcare system.

Digital therapeutics are also a great fit for notoriously complex conditions like IBS, a condition affecting 800 million people, 60 percentage of whom go on to develop depression or anxiety, hitherto only treated imperfectly by a range of measures from restricted diet to antidepressants. Companies like Bold Healthare using data to personalize treatments and improve outcomes, and pioneering the use of hypnotherapy to treat IBS.

… and our healthcare systems need digital therapeutics to work!

Bringing traditional therapeutics to marketplace is becoming exponentially more expensive. The full explanation of this is Eroom’s statute; however, in short: the cost to develop a new medication has doubled every nine years since 1950. And even after a lengthy testing and approval process, narcotics may have unintended outcomes. Or, quite simply, they might not work at all.

It now takes on average 14 years and $2.5 billion to develop a market-ready narcotic.

Additionally, healthcare systems are under pressure from aging populations and tightening purse strings. This is, of course, particularly true in the U.K.

Against this backdrop, digital therapeutics are a great solution. They are relatively cheap to develop — all the companies I have mentioned raised less than$ 5 million to develop their products. This is particularly true in contrast to traditional therapeutics — it now takes on average 14 years and $2.5 billion to develop a market-ready drug.

The digital delivery method means it is much easier to collect data, iterate and refine the therapy and proof efficacy, permitting therapies to change with the needs of the population. Quantifying the resulting cost savings is tricky, but healthcare consultancy IQVIA recently released a report estimate the NHS would save PS170 million if it adopted currently available digital therapeutics in five illnes areas( with PS131 million saved in diabetes alone ).

Digital therapeutics companies have so far discovered success in selling direct to consumers, even in the U.K ., where healthcare is theoretically free at the point of service for all. However, helped by the evidence that they work, the NHS is “learning” how to purchase and prescribe digital therapeutics. The NHS recently launched App Library( still in beta ), showcasing trusted digital apps to customers; and AppScript, a platform for physicians to discover, prescribe and track the best digital health apps, is being rolled out across GP surgeries in the U.K.

And if they were to develop their own digital therapeutic solutions, national health systems like the NHS would be at a tremendous advantage, thanks to the huge amounts of longitudinal health data they own( data relating to how patients, and their health, fare over time ).

Consumers are discovering digital therapeutics, and the treatments are already transforming lives. Now that the body of proof shows they work, it is my hope that healthcare systems, especially the U.K.’s NHS, begin to reap the benefits offered by this new treatment mode.

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