Other investors include major US conglomerates 3M and Glaxo Smith Kline.
The statement from Hikma Ventures, released Thursday, said that their investment would go to supporting the expansion of the company.
Lana Ghanem, managing director of Hikma Ventures, said in the statement that their investment was a demonstration of their focus on “identifying and investing in innovative, high potential digital health providers.”
“Despite an abundance of effective treatments, the majority of people with chronic respiratory disease could be doing much better than they are,” said David Van Sickle, CEO of Propeller Health. We’re excited to work with Hikma Ventures on our efforts to develop information-powered medicines that help people and their physicians achieve control of these conditions.”
Founded in 2010, Wisconsin-based Propeller Health is a producer of smart solutions that help those with respiratory disorders.
Using sensors, mobile apps, and data analytics, the product modernizes traditional therapies for respiratory illnesses. It integrates information from multiple sources, including a patient’s inhaler, and uses machine intelligence to recommend an optimal path therapy for people with chronic obstructive pulmonary disease (COPD), asthma and other respiratory diseases.
Research has predicted that the global digital dose inhaler market is anticipated to reach a value of $3.56 billion by 2024.
This is the second US investment the venture arm of the Jordanian pharmaceutical company has made in the last two months. Hikma Ventures announced their inclusion in a $47.6 million Series B round in early September for US-based smoking deterrent product from Chrono Therapeutics.