Selfapy brings a strategic investor on board
The digital health company Selfapy closed a financing round of 7 million euros. In addition to the new strategic investor Medice Arzneimittel, all existing investors are also involved.
Berlin, Februar 17, 2023: The Berlin-based company Selfapy, which offers effective digital therapeutics for people with mental illnesses, has gained a strong partner in Medice Arzneimittel as an investor. The funding round was supported by the investment bank Bryan, Garnier & Co.. On December 23, 2022, the financing of 7 million euros was notarized in Berlin. The round was led by Medice Arzneimittel, a family-owned pharmaceutical company focused on the treatment of ADHD. All existing investors were also involved, including healthcare-investor SHS, Think.Health Ventures, IBB Ventures and HTGF.
7 million for further growth in Germany and Europe
"The funding round is an important milestone and a confirmation of confidence in the success of Selfapy," said Nora Blum, co-CEO and founder of Selfapy. The capital provided will be used to develop further digital therapeutics for various mental health disorders and to grow in the German market. More doctors and psychotherapists will be able to learn about the benefits of reimbursed digital therapeutics in Germany (DiGA) through Selfapy and prescribe Selfapy's therapy courses to their patients.
"Another part of the capital will be used to enter new European markets: "We see great potential for digital therapeutics in the field of mental health, both in Germany as well as internationally. With five conducted randomized controlled trials (RCTs) and a broad user base in Germany, we are well set to expand our offerings to other indications as well as into other markets," emphasized Adham Kassab, Co-CEO of Selfapy.
"The strong development of Selfapy in recent years speaks for itself. Digital health applications will continue to grow in importance in the coming years. We continue to see a lot of growth potential here and are pleased to accompany Selfapy on this journey," said Dr. Richard Ammer, CEO of Medice.
New digital health apps for people with mental health conditions
Since 2021, Selfapy's online courses for people with depression and anxiety disorders, permanently listed for reimbursement, have already been reimbursed by all statutory health insurances in Germany. The background to this is the approval of the offerings as a reimbursed digital therapeutic (DiGA), which are permanently listed in the directory of the German Federal Ministry for Drugs and Medical Devices (BfArM). Selfapy's online courses, which are based on the methods of cognitive behavioral therapy, significantly reduce the symptoms of people with depression and generalized anxiety disorders: their effectiveness has been proven in randomized controlled trials. Just recently, Selfapy successfully added two new online courses for people with binge-eating disorder and bulimia nervosa to its portfolio, making it the first reimbursed digital therapeutics (DiGA) provider for eating disorders in Germany. But Selfapy’s offerings will not be limited to the four certified offerings: The capital raised will go toward developing more digital health apps, as well as conducting more clinical trials.
Selfapy is one of the leading providers of online support for mental health in Germany and was founded in 2016 by Nora Blum and Katrin Bermbach in Berlin. In Germany, around 18 million people suffer from a mental illness such as burnout, depression or anxiety disorders. They often have to wait up to six months for treatment. Selfapy offers people in psychologically stressful situations flexible support without waiting. The 12-week courses were developed by experienced psychologists and digitally implement the approaches of behavioral therapy. As certified digital health applications, they are reimbursed by all statutory health insurers. For more information about Selfapy, visit selfapy.com.
For more information about Selfapy and its courses, visit www.selfapy.com. Selfapy GmbH, Kastanienallee 29/30, 14035 Berlin.
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