RxAnte Closes Series A Financing
Funding to Drive Continued Product Development, Commercialization, and Corporate Expansion
MCLEAN, Va., Sept. 12, 2012 /PRNewswire/ -- RxAnte, Inc., a health care improvement company providing a new and innovative approach for improving medication adherence, announced today that it has raised a Series A financing led by Aberdare Ventures with additional support from the West Health Investment Fund. The financing will be used to further develop RxAnte's proprietary technologies, commercialize its current offerings, and expand the company's impact on the quality of medication use.
"Adherence to prescribed medicine is a critical issue for a variety of health care organizations, and one of the biggest opportunities to improve health care," said Dr. Josh Benner , Founder and CEO of RxAnte. "RxAnte has pioneered a promising new approach to getting the right adherence interventions to the right patients at the right time. In collaboration with Aberdare and West Health, we're excited to expand our offerings and help more organizations achieve higher quality care at lower cost."
RxAnte uses its patent-pending analytics platform to predict medication adherence for individual patients, target interventions to those most likely to benefit, and monitor and manage programs over time. The RxAnte system reveals which patients respond best to interventions, helping organizations improve the cost-effectiveness of their adherence improvement efforts.
"We are elated to be teaming up with RxAnte," said Paul Klingenstein , Managing Partner at San Francisco-based Aberdare Ventures. "Drug adherence is a simple way to improve care for individuals and get more for our health care dollars. RxAnte has developed a set of superb data tools to accomplish these goals. It is exactly what our health care system needs, and the kind of thing we are trying to do at Aberdare."
RxAnte is currently working with major health plans, providers, care management organizations and pharmaceutical companies to help improve the effectiveness and efficiency of their adherence efforts.
"Through targeted investments in companies focused in advancing cost-effective models of care, West Health can impact the cost of health care externally," said Nicholas J. Valeriani , chief executive of San Diego-based West Health. "RxAnte highlights the kinds of new approaches to medication adherence that have great potential to disrupt the current delivery model and lower the cost of health care."
RxAnte is a health care improvement company that provides a new and innovative approach for driving medication adherence by helping organizations target, manage, and evaluate their adherence support initiatives. The company's patent-pending predictive analytics and decision support solutions turn ordinary claims data into actionable insights and management recommendations that help health care organizations deliver the right intervention to the right patient at the right time. For more information, please visit www.rxante.com.
About Aberdare Ventures
Formed in 1999, Aberdare Ventures is a San Francisco-based venture capital firm investing in health care innovation, often at the earliest stages. Aberdare invests in visionary entrepreneurs and technologies that are transforming global inefficiencies in health care with new biological, engineering, and information technologies. Eight investment professionals oversee a committed capital base in excess of $400 million in aggregate. The firm has attracted and partnered with many superior early stage companies, repeatedly backing start-up enterprises that have grown to values exceeding $1 billion.
Historical successes have included Pharmion, Ironwood Pharmaceuticals, and Ablation Frontiers. More recently, Aberdare has been among the first to focus on the transformational opportunities created at the intersection of emerging information technologies with health care, and has established a leadership position in this ecosystem. In addition to the investment in RxAnte, existing commitments to Aviir, Clovis Oncology, Elation EMR, goBalto, Jiff, Omada Health, mc10, and Sonitus reflect this strategy.
About the West Health Investment Fund
The West Health Investment Fund's mission is to lower health care costs by investing in innovative patient-centered solutions that deliver the right care at the right place at the right time. This fund, seeded with $100 million from pioneering philanthropists Gary and Mary West , strategically provides capital to early stage mission-aligned companies. The Investment Fund is unique in its philanthropic nature as it commits any returns made from investments to medical research and other charitable activities. The West Health Investment Fund is part of West Health, which also includes the West Health Institute, West Health Policy Center, and West Health Incubator. For more information, find us at www.westhealth.org and follow us @westhealth.
SOURCE RxAnte, Inc.
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