Smart pill firm raises substantial capital

|By:, SA News Editor

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.