Sanofi is teaming up with digital therapeutics firm DarioHealth partnership Aims to expand the use of technology tools as a way to manage chronic diseases.
Under the agreement, the two companies will collaborate to promote Dalio’s digital products, which people can access through their smartphones. Dario uses artificial intelligence to personalize its products, engaging and supporting users with virtual care. The New York-based company’s first products are aimed directly at consumer products developed for people with diabetes. In 2020, Dario expanded to include other medical conditions and serve commercial clients. In addition to diabetes, Dario’s technology now covers indications including hypertension, prediabetes and musculoskeletal disorders.
Sanofi’s deal with Dalio calls for partners to collaborate to promote the tech company’s digital treatments for multiple conditions, including diabetes, hypertension, weight management, musculoskeletal and behavioral health. The companies will work to expand the technology’s reach in the health plan market, while also selectively making the technology available to employers. In addition, the agreement calls on partners to develop new or better solutions using Dario’s technology platform, and requires partners to generate “strong evidence” to support the future commercialization of the technology and health plans. The multi-year agreement is a $30 million deal subject to unspecified contingencies.
“Our collaboration with Dalio is another step in accelerating Sanofi’s mission to reverse the course of chronic disease by integrating healthcare and technology, in a way that gives people the tools to improve their health,” said Gustavo, Sanofi’s U.S. Head of Generic Medicines Pesquin, said in a prepared statement.
Dalio reported about $14.5 million in revenue through the third quarter last year, up 164% from the nine-month period in the same period in 2020.The company attributed the increase to higher direct-to-consumer sales and the consolidation of revenue from vertical technology and WayForward, two companies to acquire in 2021.
Also on Tuesday, Dalio announced a way to sell securities to institutional investors. Register for direct sale. The offering of 5.3 million shares at $7.49 per share will raise about $40 million. Dario said it will use the proceeds to commercialize its digital health platform in the U.S. market.
Image: Andrei Suslov, Getty Images
