Three Leaf Ventures’ Investment Continues Transformation of Healthcare Through Technological Innovation
Three Leaf Ventures, the Denver-based venture-stage fund fueling healthcare technology innovation, has led Cohero Health’s $9 million Series A financing to accelerate commercial access to BreatheSmart, the leading respiratory disease management platform. Three Leaf Ventures, a managed affiliate of the Broe Group, is joined in the funding round by Zaffre Investments, the investment arm of Blue Cross Blue Shield of Massachusetts.
The Centers for Disease Control and Prevention reports that chronic lower respiratory diseases, such as asthma and COPD, are the third-leading cause of death in the United States and the economic impact of COPD in the US alone as more than $36 billion. And the World Health Organization says respiratory issues are among the most common medical conditions in the world – affecting more than 2.1 billion people – and are one of the top reasons for all doctor office visits.
“Three Leaf Ventures invests in companies that deliver a new way to remedy our impaired healthcare system,” said Three Leaf Ventures Managing Director Sean Kearney. “Cohero Health is leveraging a hardware and software solution to collect clinically valuable data, empowering clinicians and patients with new tools to better manage respiratory disease.” Kiki Broe of Three Leaf Ventures adds, “The Cohero platform, BreatheSmart, is unique in that it addresses both sides of the equation, not only tracking medication use but also correlating that with quantitative, real-time measurements of lung function.”
“Three Leaf Ventures’ investment accelerates commercial growth, which ultimately benefits all respiratory patients – our core focus,” said Melissa Manice, PhD, co-founder and CEO of Cohero Health. “We will use the funding and Three Leaf’s partner relationships to increase commercial access, expand clinical trials, and evolve BreatheSmart–the leading wireless and web-based respiratory patient monitoring system.”
To be commercially viable, healthcare innovations must work within the existing and evolving framework of commercial insurance. Products need to deliver clinical performance data to successfully establish commercial reimbursement systems. Cohero’s clinical validation has demonstrated the platform’s viability to achieve commercial acceptance by delivering medication adherence rates 2.5 times those of standard of care.
Unsustainable costs and increasing patient needs are crippling the current healthcare model. Transforming the healthcare market requires an understanding of the market needs, constraints and infrastructure and the ability to identify true opportunity to improve them all. Three Leaf Ventures invests in partners that make true healthcare transformation possible.