DarioHealth closes $50M loan facility with OrbiMed

DarioHealth (Nasdaq:DRIO) announced today that it closed a senior secured term loan facility worth up to $50 million.

OrbiMed, a leading healthcare investor, will provide non-dilutive capital to fund the continued development of New York-based DarioHealth’s digital health platform for managing chronic diseases, including diabetes.

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The biggest stories from the American Diabetes Association (ADA) 2022 Scientific Sessions

For the 82nd time, the American Diabetes Association (ADA) Scientific Sessions convened to highlight all the innovations within the diabetes technology space.

Major players like Dexcom, Medtronic, Abbott and more continue to plug along, while companies like Bigfoot Biomedical, One Drop and others shared data backing the technology that they bring to the table.

The data showcased at ADA supported the usual continuous glucose monitoring (CGM) and automated insulin delivery (AID) technology, plus different digital health platforms and diabetes reversal procedures.

BTIG analyst Marie Thibault wrote in a report that there was plenty of buzz on the ground at the event, particularly around Insulet’s Omnipod 5 AID system, Abbott’s recently FDA-cleared FreeStyle Libre 3 CGM and Bigfoot Biomedical’s Bigfoot Unity platform.

“In general, we believe that accuracy and clinical benefit is proven for all commercial CGM and AID offerings an…

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Study backs DarioHealth’s digital therapeutics for managing diabetes

DarioHealth (Nasdaq:DRIO) announced today that multiple research studies support its digital therapeutics for diabetes management.

New York-based DarioHealth presented the data from the new studies at the American Diabetes Association’s (ADA) 82nd Scientific Sessions in New Orleans. Two of the studies add to DarioHealth’s evidence supporting an integrated approach to managing multiple chronic conditions, while the third analyzed the impact across ethnicities of users living with type 2 diabetes.

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DarioHealth rises on Street-beating Q1

DarioHealth (Nasdaq:DRIO) shares ticked up this morning on first-quarter results that beat the consensus forecast.

The (LOCATION)-based digital therapeutics company posted losses of $15.9 million, or 74¢ per share, on sales of $8.1 million for the three months ended March 31, 2022, for a bottom-line slide about $1 million deeper into the red despite more than doubling its sales from the first quarter of 2021.

DarioHealth’s losses per share of 74¢ came in 22¢ ahead of expectations on Wall Street, where analysts were looking for sales of $6.9 million.

“Our first quarter results reflect our increasingly successful transition to a B2B model with growing revenue and gross margins,” DarioHealth CEO Erez Raphael said in a news release. “In light of the demonstrable traction and increasing revenue in the B2B (commercial) market segment, we continued to rationalize marketing spend in the direct-to-consumer segment resulting in improved mar…

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Digital therapeutics open up new opportunities in medicine

Pear Therapeutics designed the reSET prescription digital therapeutic for the treatment of substance abuse disorder. [Image courtesy of Pear Therapeutics]A wide range of companies are aiming to make waves through digital therapeutic offerings, and each is doing things differently.

“We are seeing tremendous momentum for the DTx industry, with more and more products coming to market and gaining commercial coverage and recent signals from the White House and Congress demonstrating their interest and recognition of DTx products as an important way to expand access to quality treatments for populations with public coverage, especially underserved communities,” Digital Therapeutics Alliance CEO Andy Molnar said via email. “While we are riding a massive swell, the wave hasn’t even begun to crest. The community is expanding and convening this broad coalition of stakeholders is critical to really scale the industry and drive DTx adoption and integration to truly transform healthc…

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CGMs, insulin pumps and more: the biggest diabetes news to come out of ATTD 2022

All kinds of technologies were on display at the Advanced Technologies & Treatments for Diabetes (ATTD) conference in Barcelona last week.

From continuous glucose monitoring (CGM) to automated insulin delivery, with plenty in between, a number of companies shared positive data for their diabetes offerings.

Here are five of the biggest stories to come out of ATTD 2022:

 

Dexcom’s G7 is accurate in pediatric T1D patients

Dexcom (Nasdaq:DXCM) published new data highlighting the accuracy of the next-generation G7 continuous glucose monitor in children.

The study, published in the Journal of Diabetes and Scientific Technology, evaluated the G7 CGM in children and adolescents with type 1 diabetes. G7, which last month won CE mark approval, remains under FDA 510(k) review.

 

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Data shows improved outcomes with DarioHealth’s chronic condition management platform

DarioHealth (Nasdaq:DRIO) today announced real-world study data on the impact of managing diabetes and weight on a single digital platform.

New York-based DarioHealth presented the published retrospective, real-world study observing its digital therapeutics platform at the Advanced Technologies and Treatments for Diabetes (ATTD) Conference in Barcelona.

The company analyzed 12 months of data for a group of 715 individuals using the Dario app to manage their blood sugar aat a body mass index (BMI) of greater than 30 kg/m2, the clinical baseline for obesity. According to a news release, nearly two-thirds of DarioHealth participants in the study with a BMI of more than 30 reduced their BMI by an average of 2.8 units with an average weight loss of 7.4%.

A subgroup of Dario participants with BMIs greater than 30 and high-risk blood glucose readings of more than 180 mg/dL was observed as well to understand the impact on both diabetes and weight management. The…

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DarioHealth agrees to acquire computer vision tech developer Physimax

DarioHealth (NSDQ:DRIO) announced today that it entered into an agreement to acquire Physimax Technologies.

Physimax develops computer vision (CV) technology for musculoskeletal (MSK) functional screening and predictive risk of injury assessment.

The technology is currently used commercially by National Basketball Association and National Football League teams, the U.S. military and healthcare facilities specializing in orthopedic care, according to a news release. Physimax’s offerings enable automated MSK and injury risk screenings with validated accuracy, while the company’s AI engine generates evidence-based personal training programs to aid in effective injury prevention and recovery.

In consideration for the acquisition of Physimax’s assets, the company agreed to issue up to 256,660 shares of its common stock, plus a cash payment of $500,000, along with an agreement to assume certain liabilities in an approximate amount of $1.02 mi…

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DarioHealth unveils digital therapy for treating musculoskeletal conditions

DarioHealth (NSDQ:DRIO) announced that it launched Dario Move, a digital physical therapy platform for musculoskeletal (MSK) conditions.

With the introduction of the Dario Move, Boston-based Dario adds to its suite of chronic condition management platforms that include treatments for diabetes, behavioral health and metabolic health, according to a news release.

Dario Move combines software, technology and professional human support with features including a single biofeedback sensor for ease of use, personalized evidence-based exercise programs designed by physical therapists, real-time feedback and support and a highly personalized experience across Dario’s full suite of chronic condition solutions.

“The launch of Dario Move marks a significant achievement for our company, as we successfully and efficiently integrated the Upright MSK solution into our comprehensive multi-chronic condition digital therapeutics platform, further expanding its …

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DarioHealth touts data for diabetes management platform

DarioHealth (NSDQ:DRIO) recently presented data supporting its artificial intelligence (AI)-powered diabetes management platform.

New York-based Dario’s research examined users who were given access to a new product experience designed to drive better health habits and behaviors through its AI-driven personalization engine.

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DarioHealth touts research on digital therapeutics for diabetes patients

DarioHealth (NSDQ:DRIO) announced today that recently published research supports its digital therapeutic platform for type 2 diabetes.

New York-based DarioHealth published a new study through a letter to the editor in the Journal of Diabetes Science and Technology, according to a news release. The study observed participants using DarioHealth’s digital therapeutics for diabetes management, monitoring for both clinical and self-reported impact.

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MedTech 100 roundup: Turnaround for the industry?

A turgid month for the medtech industry might be drifting into the past after the past week indicated a slight turnaround as summer nears.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week at 107.74 points, marking a 1.4% rise from the 106.22-point mark set one week prior.

Having endured its largest slide of 2021 in recent weeks, the index is already demonstrating signs of a rebound after April brought the industry’s all-time best performance.

Despite the setbacks that have plagued the industry over the past month or so, medtech’s performance continues to reflect a rebound from the struggles brought on by the COVID-19 pandemic. Overall, it has registered a 16.7% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 73.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).

The overall markets were on the opposite end of the spectrum over the p…

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