Stardots has completed a new share issue of approximately SEK 15 million. A number of investors participated in the new share issue, including the existing shareholders VNV Global, Uppsala University Invest and Stockholm University Holding, as well as new investors such as the Beijer Foundation. Stardots intends to use the net proceeds from the new share issue to further develop its digital health platform for Parkinson’s disease and prepare the company’s launch in the US and Europe.
Comment from the CEO
“We are grateful for the support and trust from existing and new investors in this capital raise and are thrilled that they share the company’s vision to provide patients of neurological diseases with a better future.”, says Daniel Petrini, CEO of Stardots.
Stardots is a deep tech company that brings together engineers and mathematicians with neurologists and life-science developers. The company’s initial focus is on Parkinson Disease, where the company’s digital platform, ANLIVA™, through mathematical models, sensor data and AI, analyses typical symptoms through the patient’s smartphone. This is transformed into quantifiable symptom markers used for monitoring disease progression and optimizing treatment. Caregivers receive analysis, statistics and treatment suggestions based on the patient’s markers, allowing for individualized telemedicine treatment. Stardots’ vision is that its digital health platform ANLIVA™ will become a new standard for objective, equal, globally accessible, and cost-effective Parkinson’s care.
- Neurological disorders are the leading cause of disability globally, with the fastest growing neurological disorder being Parkinson’s Disease (“PD”), a progressive long-term disorder affecting movement, muscle control, and balance.
- Today, care of PD patients is subjective, unequal and costly and treatment is reliant on doctors’ appointments and may not reflect the patients’ immediate needs nor the progression of the disease, due to difficulties of objectively quantifying and monitoring the disease progression – an unmet need that Stardots is targeting.
- The company’s platform, ANLIVA™, will analyze typical symptoms such as dyskinesia, including tremor and hyperkinesia, through the patient’s smartphone. Caregivers will receive individualized analysis, statistics and treatment suggestions based on the patients sensor data, allowing for individualized telemedicine treatment. Used together with pharma- and medtech-products, ANLIVA™ will offer a more individualized precision treatment. As an example, Stardots entered into a strategic collaboration with OnDosis in September 2022, a medical technology company spun off from AstraZeneca that develops a unique device platform for flexible and individualized dosing of drugs.
- The company’s platform and its sub-systems, e.g. various applications and algorithms, have been tested and verified through studies at Uppsala University Hospital. Clinical studies with the ANLIVA™ platform are expected to be carried out in the fourth quarter of 2022.
- Following completion of clinical studies, regulatory submission to the FDA will be completed, with subsequent FDA approval and US market launch being expected during 2023.