Blue Note Therapeutics, a medical startup based in San Francisco, has announced the raising of $31 million via a Series A funding round co-led by JAZZ Venture Partners and Summer VC.
JAZZ Venture Partners looks to invest in startups that seek to improve the patient therapeutic experience and to develop breakthroughs in technology and science, such as advances in artificial intelligence and neurobiology.
The round by the startup, which mainly focuses on therapeutic solutions for patients suffering from cancer, comes after the raising of an additional $5.2 million in capital contributed by Memorial Sloan Kettering Cancer Center (MSK) and Alumni Ventures.
Funding will be used to fuel the startup’s development of evidence-based therapeutics, aiming to assist an increasing number of cancer patients nowadays. According to many reports, there are about 18 million cancer patients in the U.S and nearly half of all cancer patients are facing psychosocial distress, anxiety, or depression., which if not treated can lower their quality of life as well as chances of survival. Geoffrey Eich, CEO of Blue Note Therapeutics, said in this regard:
“Nearly half of all patients diagnosed with cancer experience some form of psychosocial distress but for far too many these symptoms go untreated. We are grateful for our new partners to help further Blue Note’s efforts to expand access to evidence-based, cancer-specific treatments from the world’s top cancer centers.”
To deal with this problem, Blue Note is developing a system of clinically validated prescription digital therapeutics (PDTs) by combining deep scientific and clinical expertise, neuroscience, and digital innovation. All of this is done while working closely with cancer research and patient communities that aims to help reduce anxiety, depression, and other forms of cancer-related distress, helping close the cancer treatments gap.
The PDTs developed by Blue Note Therapeutics are a therapeutic class of medical devices software that is recognized by the U.S. Food and Drug Administration (FDA) in the treatment of diseases and conditions, such as anxiety and depression related to cancer diagnosis and treatment.