Russian startup raises $3.3 million to reduce side effects of drugs

Last week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, announced its intention to invest 195 million rubles in Personal Medication & Health Management (PM&HM).

In exchange for this capital injection (the equivalent of $3.3 million at the current exchange rate), the fund will receive a 35% stake in the company.

Developed on the intersection between hardware, Internet-of-Things and digital health, the company’s nebulizer reduces by times side effects of drugs used to treat tuberculosis, oncology and HIV.

The nebulizer comes in three formats — stationary, for home and personal use.

Besides, PM&HM has developed a telemedicine platform for doctors.

The company will use the fresh funding to support clinical trials, production launch and software development.

Topics: Biomedicine, Digital services & Apps, E-health, Finance, Hardware, Electronics, Robotics, Internet of Things, News, Startups, Venture / Private equity
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