Koneksa Raises $45M Series C Financing to Accelerate Expansion of Digital Biomarker Platform
Digital biomarker design and validation company Koneksa recently announced that it had completed a Series C funding round in which it raised $45 million. The funding round was led by AyurMaya, with Velosity Capital and Takeda Ventures participating as well. Existing investors McKesson Ventures, Waterline Ventures, Mountain Capital, Merck Global Health Innovation Fund, and Novartis were also part of the funding round. This announcement put Koneksa’s gross proceeds raised at a total of $65 million. Matrix Senior Managing Director Karan Takhar will be joining Koneksa’s Board of Directors to supplement the financing.
Koneksa is well known for its digital biomarker platform, which utilizes superior algorithms to interpret and utilize real-time patient data in clinical trials. The platform takes data from several wearables to create a streamlined interaction for sponsors, researchers, and patients. This can aid in providing patient insights and previously inaccessible evidence, which will improve knowledge of disease and provide patients with medicine quickly.
Koneksa will be expanding the digital biomarker technology platform with the funding and developing self-service options for clinical data integration solutions. The funding will also give Koneksa the opportunity to grow its scientific team for the purpose of faster development.
In addition to the funding announcement, the company has appointed John A. Wagner, MD, Ph.D, as its first chief medical officer. In this role, he will oversee clinical strategy and investments. Wagner has more than 20 years of experience developing drugs, leading over 150 first-in-human studies. “As a long-time advocate of translational science and biomarkers for drug development and clinical practice, I’m thrilled to join Chris and the Koneksa team to advance the use of digital biomarkers in the life science industry,” Wagner said.
Koneksa CEO Chris Benko said, “I’m delighted to welcome John Wagner, one of our earliest collaborators and an industry pioneer, to our leadership team. We look forward to accelerating development of our biomarker technology platform and expanding our team to deliver more efficient clinical trials.”
Read the full press release here.
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