Israeli precision medicine company DayTwo has raised $37 million to continue development of technologies and solutions designed to improve the health of people with diabetes and other metabolic diseases. DayTwo’s existing investors participated in this latest financing round including aMoon of Marius Nacht and Dr. Yair Schindel, 10D of Yahal Zilka, and Cathay Innovation Ventures. They were joined by new investors, including Poalim Capital Markets, La’maison Fund and Micron Ventures. This round brings the total amount invested in DayTwo to $85 million.
The funds raised will be used for the company’s first product, which is already helping over 70,000 users in Israel and the US, and is based on pioneering research and technology that was developed at the Weizmann Institute by Professors Eran Segal and Eran Elinav. The solution uses artificial intelligence (AI), the sequencing of the gut microbiome and other clinical measures to create precision nutrition-based food prescriptions to balance blood sugar levels after meals.
DayTwo VP R&D Adi Lev said, "Last year we significantly expanded the company’s development center. We invested in Devops infrastructure and advanced cloud architecture which enable our developers to build solutions to the highest standards, very quickly and with the most up-to-date technologies available."
"DayTwo has the largest microbiome database in the world containing medical, nutritional, behavioral data and deep genetic sequencing of the intestinal bacteria of tens of thousands of people. The capital raised will fund continuation of the research into the links between the bacteria in our bodies and other diseases, and the development of new algorithms, in order to provide new scientific discoveries, which will have proven clinical outcomes."
The current financing round comes after the company demonstrated significant clinical impact on participants in the DayTwo program in the US including decreased blood sugar levels and a significant decrease in prescription medication costs. As a result, DayTwo is working with large employers and health plans in the US market. In the Israeli market, the company is collaborating with Clalit Health Services, which provides DayTwo’s solution to its members, and the company expects to launch a similar collaboration with Maccabi Health Services.
DayTwo cofounder and CEO Lihi Segal said, "Over the past year we have devoted most of our efforts and focus to the U.S. market. It is very important to show the clinical impact and improved health of users, as well as savings in healthcare costs. Our solution leads to a significant and rapid reduction in healthcare costs due to a reduction in prescription medication, fewer visits to the doctor, fewer complex surgical procedures with accompanying complications in the case of diabetes and metabolic diseases. We will continue to invest resources, expand our development center in Israel, and bring in expert developers in order to intensify our research on intestinal bacteria and develop additional solutions with real clinical impact."
aMoon Foundation founding partner and director Dr. Yair Schindel said, "DayTwo’s ability to provide precision nutrition based on each person’s unique microbiome will continue to have a positive effect on the world of medicine in general, and diabetes and metabolic diseases in particular."
Published by Globes, Israel business news - en.globes.co.il - on May 31, 2021
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