Seeking Alpha

Smart pill firm raises substantial capital

  • In one of the largest financings this year, privately-held Proteus Digital Health raises $172M. The company is developing a "smart pill" that a patient swallows. It records data on the internal milieu and transmits it externally via a patch on the abdomen. Reactions with stomach juices provide the power.
  • One of Proteus' collaborators is Novartis (NVS +0.6%).
  • Investors include Novartis, Medtronic (MDT +0.2%), Oracle and Kaiser Permanente.
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