Huma raises USD130m financing to scale digital health platform
Huma Therapeutics Limited has completed its latest funding round with financing of approximately USD130 million. The investment will scale Huma’s modular platform which can power digital ‘hospitals at home’ nationally, and support the pharmaceutical and research industries to run the largest ever decentralized clinical trials.
Huma’s platform combines predictive algorithms, digital biomarkers and real-world data to advance proactive care and research.
Leaps by Bayer and Hitachi Ventures led the Series C funding round, which also saw new strategic and financial investors become shareholders. Samsung Next, Sony Innovation Fund by IGV, Unilever Ventures and HAT Technology & Innovation Fund by HAT, as well as individuals Nikesh Arora (former president of SoftBank) and Michael Diekmann (Chairman of Allianz) are also new shareholders.
A further commitment of USD70 million that can be exercised at a later date has also been agreed as part of the Series C funding round and takes the total financing raised to more than USD200 million. Goldman Sachs International acted as lead placement agent to Huma. HSBC Bank plc± and Nomura acted as joint placement agents, with the latter also becoming a shareholder.
The new investment will be used to expand Huma’s digital platform in the US, Asia and the Middle East, with Huma having recently been named Europe’s fastest growing healthcare company by the Financial Times. Huma has established a reputation as a trusted health technology and innovation partner to four national governments (England’s NHS, Wales, Germany and UAE). Its digital ‘hospital at home’ was co-created with clinicians and has been independently shown to almost double clinical capacity, reduce hospital readmissions by over a third and has patient adherence levels of over 90 per cent. The service is supporting governments’ pandemic responses on a not-for-profit basis and is now used for a range of patients including those going through knee- and hip-replacement surgery eg with Smith+Nephew.
Huma advanced its work in the US in 2021 with an experienced leadership team that has fostered new partnerships with clinical research organisations, health care providers, payers, research organisations, and technology companies.
Huma works with leading life science companies including AstraZeneca, Bayer and Janssen and academic institutions such as Stanford Medicine, the Johns Hopkins Bloomberg School of Public Health and the University of Cambridge5,6. Huma’s research at the intersection of predictive care and machine learning has been peer-reviewed and published across a range of scientific and medical journals.
Huma is bringing in new talent to every aspect of the organisation from bench to boardroom to scale plans for global expansion. Dr Claudia Suessmuth Dyckerhoff joined Huma’s Board of Directors in April, bringing a wealth of global experience in life sciences and healthcare. In the past year, the Huma leadership team has matured with the recruitment of specialists across technology and AI, legal, healthcare, life sciences and corporate affairs12.
Dan Vahdat, Founder and CEO of Huma, says: “This is a pivotal moment in Huma’s development. We have exceptional partners and strategic investors who will support us in our mission to help people worldwide live longer and fuller lives. We’re already demonstrating how ‘hospital at home’ can transform healthcare, and how decentralized clinical trials can advance research in ways that weren’t imaginable even one year ago. Now we want to accelerate the pace of change and continue to innovate for better care and research worldwide.’’
Alan Milburn, former UK Health Secretary and Chairman of Huma’s Board, says: “This is a significant moment in Huma’s history and I will work to build enduring, trusted relationships with our new partners. We are living through unprecedented times and the importance of health and well-being is underlined as never before. Together with our partners we can use our expertise, technology, and innovation to change the face of healthcare and research and impact people’s health everywhere.”