"Building new digital business models is a key element of our business strategy with the ambition to actively shape the future of healthcare," said Jeanne Kehren, PhD, Head of Digital & Commercial Innovation and Member of the Pharmaceuticals Executive Committee of Bayer AG. "We are convinced that a data-driven approach will empower patients to drive better outcomes for themselves and will bring back the person, not the disease, as the point of focus. The new collaboration with One Drop allows Bayer to further accelerate its evolution towards a digital health business and paves the way for new integrated care patient service offerings."
In 2019, Bayer invested USD 20 million in a Series B financing in One Drop and entered into a licensing agreement for Bayer to independently develop and commercialize digital health products based on the One Drop technology platform. Moving forward, the partners will shift their collaboration to jointly evolve One Drop's existing platform to allow for a faster and modular development of solutions to manage conditions, for example, in the area of oncology, cardiovascular diseases and women's health.
"To deliver better health outcomes and cost savings at a population level, we must focus on individuals," said Jeff Dachis, CEO and founder of Informed Data Systems (One Drop). "One Drop delivers a personalized health transformation program that dynamically tunes to your needs and behaviors each day, empowering each individual to achieve the best possible health outcomes."
Integrated care solutions will enable patients to manage independently multiple chronic and complex conditions and support health interventions. They provide the potential to optimize individual care plans, to help implement remote care including monitoring, personalized interventions and healthcare professional follow-ups and thereby help sustain patient self-care.
Under the terms of the agreement, both partners will jointly enhance the existing platform utilizing One Drop’s know-how and capabilities of the One Drop platform and jointly develop digital health products in certain therapeutic areas. Bayer will contribute its medical and data science capabilities and deep disease understanding for various conditions. One Drop will receive development fees and success based commercial milestone payments. In return, Bayer will receive royalties on sales generated by One Drop. In the future, Bayer may also support the commercialization of the jointly developed digital products.
The Pharmaceuticals Business Development & Licensing team of Bayer facilitated this collaboration with the support of Mergers & Acquisitions.
About Informed Data Systems Inc. (One Drop)One Drop reimagines possible by harnessing the power of clinical science, behavioral science and advanced AI to transform the lives of people with chronic conditions worldwide. One Drop’s digital health platform delivers one-on-one coaching and personalized health transformation plans that promote positive behavior change and drive outcomes for all individuals, with the potential to reduce costs for their insurers, employers, and healthcare providers.
About BayerBayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to benefit people by supporting efforts to overcome the major challenges presented by a growing and aging global population. At the same time, the Group aims to increase its earning power and create value through innovation and growth. Bayer is committed to the principles of sustainable development, and the Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2019, the Group employed around 104,000 people and had sales of 43.5 billion euros. Capital expenditures amounted to 2.9 billion euros, R&D expenses to 5.3 billion euros.