DreaMed Diabetes raises $3.3m from Roman Abramovich

Roman Abramovich

The funds will be used to develop the Israeli company's decision support technology platform for optimal insulin treatment plans.

Israeli startup DreaMed Diabetes, which develops diabetes treatment and management solutions, announced today that it has raised $3.3 million from Norma Investments Limited, representing businessman Roman Abramovich, and a strategic investor.

Based in Petah Tikva, the company was founded in 2014. The funds will be used mainly for the further development of Advisor, DreaMed Diabetes's decision support technology platform for determining the optimal patient-specific insulin treatment plans leading to balanced glucose levels in people with diabetes. The system uses event-driven machine learning and fuzzy logic technology in order to process multiple personalized parameters, such as insulin delivery data, glucose readings, meal data etc into an informed and optimized insulin dosing treatment plan.

DreaMed Diabetes CEO Eran Atlas said, “DreaMed has harnessed years of clinical expertise and patient specific insights to develop algorithms designed to deliver real time optimal patient specific insulin treatment plans. We have successfully attracted partnerships and investments from leaders in diabetes healthcare to further our mission of creating easy-to-use and intelligent systems that are actionable for patients, healthcare providers, pharmaceutical companies and payers. The new investment will further bolster our leadership position in this area. We are honored to welcome Norma Investments, and are gratified with the vote of confidence by the strategic investor, which has chosen to invest in DreaMed. We look forward to further broadening the base of our investors in this funding round of financing.”

DreaMed Diabetes chief commercial officer Steve Bubrick said, "People with diabetes struggle on a daily basis to optimize their insulin therapy on their own or with the advice of their diabetes care team. DreaMed Advisor is designed to offer the physician, as well as the patient, a cloud-based decision support tool delivered at the speed of life. With the funds raised, we plan to broaden the Advisor platform’s application for the use of physicians and people with diabetes who rely on multiple daily injections, as well as insulin pump users.”

Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Roman Abramovich
Roman Abramovich
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