Research & Development
Swing Therapeutics Closes USD 10.3m Series A Funding Round
17 June 2022 - - US-based digital therapeutics company Swing Therapeutics has closed a USD 10.3m series A funding round led by Jazz Venture Partners with participation by Alumni Ventures, AME Cloud Ventures, Asahi Kasei Corporate Ventures, Gaingels, Kicker Ventures, Mana Ventures, and Metrodora Ventures, the company said.

The company also announced the commencement of its PROSPER-FM pivotal Phase 3 trial for its digital therapeutic for the treatment of fibromyalgia, which has received US Food and Drug Administration Breakthrough Device Designation.

The company plans to use its series A funding to support the execution of the PROSPER-FM randomized clinical trial and to launch an affiliated telemedicine clinic.

The PROSPER-FM study is based on the company's prior SMART-FM pilot study. Results from the study were presented at the American College of Rheumatology annual meeting in November 2021.

The PROSPER-FM study is investigating the effectiveness of two treatments for fibromyalgia: Digital Acceptance and Commitment Therapy, a form of cognitive behavioral therapy; and a Digital Symptom Tracker.

Swing's Digital ACT program is a daily-use digital therapeutic that includes engaging lessons and interactive exercises that help patients apply ACT principles to their unique circumstances and improve the ability to manage their condition over time.

Swing's Digital Symptom Tracker is a daily use digital therapeutic that includes common pain management approaches including monitoring daily symptoms over time and access to fibromyalgia and general health education.

The company's REACT-FM (Real-World Evidence from Smartphone-Based Acceptance and Commitment Therapy in Fibromyalgia) clinical trial is ongoing, with more than 100 people with fibromyalgia enrolled.

Swing Therapeutics is currently enrolling a clinical trial called PROSPER-FM (Prospective Study to Evaluate a Digital Regimen for Fibromyalgia Management).

Fibromyalgia is a chronic and debilitating pain condition that affects an estimated 10m Americans.

Swing Therapeutics was founded in 2019 with the goal of developing digital treatments and services in disease areas where patients are not well-served, and where digital interventions may be effective.

Its focus is on tackling autoimmune conditions and chronic overlapping pain conditions (COPCs) like fibromyalgia where central pain sensitization is a significant factor.

The company is investing in research to support the development of prescription-based digital therapies and services.

Swing Therapeutics received FDA Breakthrough Device Designation for its digital therapy for fibromyalgia management. Its near-term goal is to validate its digital therapy and bring it to market as an FDA-cleared, prescription digital therapeutic.


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