Bayer inks deals with 11 startups under G4A to develop new digital health solutions
New Delhi: Bayer announced recently that the company has signed collaboration agreements with eleven digital health startups. As part of the program, Bayer will support these startup companies aiming for longer-term collaborations to drive forward the development of specific digital solutions to improve patients’ health in the fields of cardiovascular diseases, oncology, ophthalmology, pulmonology, radiology as well as digital therapeutics.
The participating healthcare startup companies were selected by Bayer from over 750 applications out of 65 countries based on the strategic fit, development stage of the project, and the assessment of internal experts. Selected Advance Track partners are Prevencio Med, Blackford Analysis, NeuroTracker, Carepay, RelianceHMO, OKKO Health, Wellthy Therapeutics, Litesprite, Visotec, BioLum Sciences, Upside Health.
The new program offers two different ways of collaboration with Bayer in the digital health space. Under the terms of the Growth Track, selected early-stage startups to receive EUR 75.000 funding for co-creating products or solutions, as well as co-working space at Bayer’s Pharmaceuticals division headquarters in Berlin, Germany. Mentoring and coaching by Bayer executives are also part of the program. Under the terms of the Advance Track, startups looking to co-create and execute commercial deals are supported. Here, an initial project funding is followed by incremental milestone-based payments.
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“We received a high number of very mature digital health startup applications and are excited to jointly develop and scale new digital solutions that will help benefit the health of our patients and consumers,” said Eugene Borukhovich, Head of Digital Health at Bayer.
“Our company’s “G4A Digital Health Partnerships” program paves the road for longer-term collaborations through which both parties can bring to market new solutions at the intersection of health and technology,” said Dr Zsuzsanna Varga, who is heading the Bayer G4A Digital Health Partnerships program.
Bayer is combining the Group’s digital health initiatives under the name G4A (formerly Grants4Apps). In addition to identifying new technologies, business models, and market trends, these initiatives also involve collaborating with start-ups. Since its launch in 2013, Bayer has supported over 150 digital health companies. This has resulted in more than 30 direct collaborations with digital health companies. Bayer now operates G4A in more than 13 countries, developing and promoting collaborative health care projects around the world.
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Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at email@example.com Contact no. 011-43720751 To know about our editorial team click here