Building and launching a scalable digital health product that meets regulatory demands typically takes a few years to deliver. Today, global healthcare AI company Huma Therapeutics Limited is announcing the completion of its Series D funding round to help cut that time down to days as it launches the Huma Cloud Platform.
The platform offers no code configuration of regulated disease management tools for any therapeutic area, a library of pre-built modules and device connectivity capabilities, a cloud-agnostic framework for flexible hosting, readily available APIs and integration capabilities, the ability to host and deploy diagnostic and predictive AI algorithms, a marketplace, and more to advance digital-first care and research.
The Series D funding round, alongside investments from leading industry partners since its Series C round, created a total issuance of shares by Huma of over $80m. With this round, Huma has now raised over $300m. The Series D saw the participation of new and existing strategic and financial investors, including AstraZeneca, Hat Technology Fund 4 by HAT SGR, HV Fund by Hitachi Ventures and Leaps by Bayer and others. HSBC Bank plc acted as advisor to Huma during the fundraise.
Alongside its Series D, Huma is also announcing the launch of its Huma Cloud Platform – a technology ecosystem designed not only to support the company’s own digital health initiatives, but also to empower others to launch and scale their projects efficiently. With its Huma Cloud Platform and the regulatory foundation that it is built on, Huma aims to reduce the time it takes to develop and launch digital health projects at scale from years to as little as a few days.
The Huma Cloud Platform is built to serve the company’s existing regulated products. In 2023, Huma achieved the landmark milestone of becoming the first and only configurable, disease-agnostic FDA Class II, EuMDR Class IIb, and Saudi FDA Class C platform, enabling rapid, code-free configuration with the ability to host AI/ML models. This regulatory status significantly reduces the cost, time, and risks associated with bringing digital health projects to life through the Huma Cloud Platform.
Huma is now making this platform available to customers which comes with a Software Development Kit (SDK) to enable the accelerated development of similar applications or to embed functionalities into their existing solutions.
Dr Juergen Eckhardt, EVP, Head of Leaps by Bayer and Pharmaceuticals Business, Development & Licensingcommented: “We have known Huma for several years and we’ve been impressed by their remarkable progress. We have seen this first-hand. They have demonstrated strong growth and excellent metrics. With their next-generation AI capabilities and Huma Cloud platform, Huma can partner with pharma companies to deliver efficient digital health solutions to patients focused on predictive and proactive care.”
“Pharmaceutical companies need financially and technically efficient digital solutions to minimise spending on efforts that are duplicative or can’t scale. The Huma Cloud Platform enables companies to streamline how they bring digital medicine, companion apps, and data collection capabilities to patients from the R&D phase to post-launch.”
To date, Huma’s technology has powered projects in over 3,000 hospitals and clinics. The platform has been used to engage and screen over 35 million individuals, with 1.8 million active users across its products in over 70 countries. Huma’s U.S. business has grown significantly since launch with new reimbursement codes. The RPM product, built on top of the Huma Cloud Platform for respiratory use cases, now covers 140,000 contracted lives. As a result of all these successes, the company has doubled its revenue year-on-year, and is targeting to become profitable this year.
Huma also collaborates with over half of the top 20 pharmaceutical companies globally and has been involved in major national healthcare projects worldwide.
Huma has partnered with Google and others to develop new AI models that could enable its Cloud Platform users to care for many times more patients with less work; for example a feature called “10x Nurse” that significantly reduces administrative tasks and brings automation to the patient review process with a human in the loop. This opens new possibilities, such as efficiently managing chronic diseases with fewer staff or using real-time monitoring systems to ensure patients are on the correct treatment pathways while keeping humans still in the loop.
Looking ahead, combining the Huma Cloud Platform with next-generation AI models will enable Huma to have a bigger impact through its digital-first care and research initiatives, as well as supporting small startups and enterprises in launching the digital solutions they need. It promises to do this much faster and cheaper, shifting the focus to project or venture success rather than getting distracted with scaling technology or managing regulatory burdens.
Dan Vahdat, Founder and CEO of Huma, said, “I am thankful for the support of our new and existing shareholders, helping our vision become a reality, which we are closer to than ever before. We are here to accelerate the adoption of digital and AI across care and research, and we do that by making the building of digital health solutions for care and research easy. We like to think of Huma Cloud Platform much like Shopify but for digital health instead of e-commerce. We believe when digital and AI are scaled, they become affordable for both the poor and the rich. They remain consistent and will help us transition medicine from being reactive to proactive.”
