AI Diabetes Management Startup Strikes Deals, Expands In US

An Israeli startup whose AI platform helps manage treatment for diabetics has announced a number of new deals with health systems and companies in the United States, and is preparing to cement its presence in the country. 

DreaMed Diabetes’ endo.digital platform is designed to provide treatment recommendations to millions of people with diabetes who do not have access to endocrinologists.

Among the newly signed deals is a data integration agreement with medical device giant Abbott, which is one of the leading companies in the field of diabetes devices. 

The agreement means that diabetes patients using the Abbott FreeStyle Libre continuous glucose monitor can now send data via the endo.digital platform to their physicians for remote supervision.  

DreaMed has also signed agreements with leading US health systems, including Yale New Haven Health, and a development and license agreement with an international company that will accelerate its expansion in the global market.  

It has also closed a financing round of $3 million led by eHealth Ventures, a VC specializing in early-stage digital health investments, in addition to approximately $30 million it has also received in grants, other sources of non-diluted money and equity financing.

“The last two years have been very challenging for the Israeli high-tech industry as a whole, and for the field of digital health in particular,” said DreaMed CEO and co-founder Eran Atlas, who was called up for emergency reserve duty by the IDF on October 8, and spent six months in uniform.  

“We managed to overcome the difficulties of the coronavirus, the economic crisis and the war, and we are preparing for a large-scale deployment in the US and then to other countries, with a significant revenue stream and the raising of new capital,” he said. 

“We have the backing of the two leading Israeli health maintenance organizations: Clalit Health Service, which supported the technological development, and Maccabi Health Fund, which is one of the partners of the eHealth Ventures fund. The partnerships and commercial agreements are a jumping off point for the company’s next stages of growth.”

In November, DreaMed received a fifth clearance from the US Food and Drug Administration (FDA), which allows the company to expand the scope of its recommended care plans for diabetics on a fixed regimen of insulin administered via pump or injection.