- Funding Round Led by 7wireVentures, joined by General Catalyst, Dragoneer, Cigna Ventures, Leverage Health Solutions, and Leaps by Bayer
- Glen Tullman, 7wireVentures Managing Partner and Former Livongo CEO and Founder, Named Executive Chairman
SAN DIEGO–(BUSINESS WIRE)–October 21, 2021–
Zerigo Health, which delivers the only connected light therapy solution for treating chronic skin conditions at home or on the go, today announced a $43 million Series B investment led by 7wireVentures, joined by General Catalyst, Dragoneer, Cigna Ventures, Leverage Health Solutions, and Leaps by Bayer. The round also included participation by existing investors including SV Health Investors, H.I.G. Capital, and Bluestem Capital. This round will allow Zerigo Health to respond to the increasing demand for its innovative connected chronic skin condition solution for the over 40 million Americans living with psoriasis, vitiligo, and eczema. Glen Tullman, Managing Partner of 7wireVentures, former Founder and CEO of Livongo, and Chief Executive Officer of Transcarent, will join as Executive Chairman of the company’s Board of Directors.
“As the first connected phototherapy solution, Zerigo Health is empowering people to better manage their chronic skin conditions from the comfort of home or any location they choose, while also helping to significantly reduce costs associated with legacy treatment methods and expensive therapeutics,” said Tullman. “7wireVentures is excited to lead the company’s latest funding round as it rapidly drives adoption of its solution among self-insured employers, health plans, and their employees and members.”
Zerigo Health’s FDA-cleared, natural light therapy solution safely and effectively shifts dermatological care from the clinic to the controlled convenience of home, keeping physicians and their patients with chronic skin conditions connected with personalized data and insights. Patients can easily self-administer clinically proven, American Academy of Dermatology guideline recommended narrowband ultraviolet B (NB-UVB) phototherapy using a handheld device and smartphone app. Prescription dosing is controlled via secure cloud-based technology, helping to ensure that patients treat safely in accordance with their physicians’ prescriptions. Patients are also remotely monitored and given personal coaching and support throughout their treatment journey.
“Legacy methods and therapeutics to treat chronic skin conditions are not only expensive, but time consuming and inconvenient, which often leads to adherence challenges,” said Tom Richards, Senior Vice President and Global Lead, Strategy and Business Development, Cigna. “By combining cutting-edge technology with human coaching and virtual physician connections, Zerigo Health offers convenient options to treat skin conditions in an individual’s home – making it easier to stick to regimens and drive better outcomes. We’re excited to partner with a company that aligns with our philosophy to meet customers where they are, affordably and simply, changing the way the industry thinks about chronic skin condition management.”
In a 2019 academic, peer-reviewed study published in the Dermatology Online Journal, Zerigo Health’s new and effective treatment for photo-responsive skin conditions enabled study participants with psoriasis to achieve 100% clearance within two weeks when topical corticosteroids were combined with Zerigo Health’s at home light therapy solution after a ten week monotherapy regimen was completed.
“At such an exciting time in the company’s development we are fortunate and excited to welcome our new and existing Series B investors, as well as Glen Tullman as our new Executive Chairman,” said John E. Schellhorn, President and CEO of Zerigo Health. “Zerigo Health continues to gain traction in the market and is well positioned to meet the growing demand by patients to be able to treat their chronic skin conditions wherever they may be. This new investment capital will help fuel our growth in the health plan and self-insured employer markets as they are eager to offer more cost effective and clinically proven solutions for treating these conditions.”
About Zerigo Health
Zerigo Health offers the only comprehensive home solution that seamlessly connects patients and providers to deliver optimal dermatological outcomes. Zerigo’s precision solution remotely treats and monitors patients with chronic skin conditions using narrowband ultraviolet B (NB-UVB) phototherapy, a proven, standard-of-care treatment. Patients benefit from the unique combination of advanced technology with personal coaching and support throughout their treatment journey, which results in documented increases in treatment adherence and patient satisfaction. To learn more, visit www.zerigohealth.com or on LinkedIn or Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005278/en/
Teddy Fulham
[email protected]
VentureBeat
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more
Source: Read Full Article