Funding led by B Capital, with investments from CommonSpirit Health, CVS Health Ventures, Google Ventures, Optum Ventures, Rock Health Capital, RA Capital Management, and Nexus NeuroTech Ventures to increase access to care for families living with Alzheimer’s and related dementias, Parkinson’s, and ALS
CHICAGO, Nov. 19, 2024 /PRNewswire/ — Synapticure, a leading virtual care company dedicated to improving access and outcomes for patients and caregivers living with Alzheimer’s and related dementias, Parkinson’s, and other neurodegenerative diseases, today announced the successful close of its $25 million Series A funding round. Led by B Capital, the round included new investors CommonSpirit Health, CVS Health Ventures, RA Capital Management, and Nexus NeuroTech Ventures, as well as existing investors Google Ventures, Optum Ventures, and Rock Health Capital.
Co-founded by patient and caregiver Brian Wallach and Sandra Abrevaya, known for their advocacy and leadership in the neurodegenerative disease community documented in the film No Ordinary Campaign, Synapticure was created to address the unmet needs of patients and caregivers living with neurodegenerative diseases, including Alzheimer’s and related dementias, Parkinson’s, ALS, Huntington’s Disease, and beyond. Since its launch in 2022, Synapticure has rapidly grown to serve several thousand patients across the United States as the only specialty virtual care platform providing comprehensive care and treatment for cognitive, neuromuscular, and movement disorders.
Synapticure will use this funding to:
- Expand partnerships with leading healthcare providers and payers, building on key collaborations announced earlier this year, including being selected as a CMS GUIDE (Guiding an Improved Dementia Experience) provider in all 50 states.
- Invest in its innovative and proprietary technology platform, further deploying AI-enabled analytics and clinical research to accelerate diagnosis and treatment, monitor patients remotely, ensure 24/7 support, and implement solutions that ease the burden on families managing the complex needs of neurodegenerative conditions.
- Fast-track clinical research and expand patient access to emerging treatments and clinical trials. By operating a single, standardized clinical operation across 50 states with an in-home research capacity, the Company can rapidly enroll and support studies for a diverse population of eligible participants anywhere in the U.S., and help qualifying patients access newly approved treatments.
- Scale its national medical group by bringing on additional providers to meet increasing demand while continuing to deliver personalized care, and introduce new offerings enabled by relationships with leading patient advocacy organizations.
“This investment will enable Synapticure to continue to democratize care for people and their families living with neurodegenerative diseases,” said Sandra Abrevaya, caregiver, advocate, co-founder, and CEO of Synapticure. “As a caregiver for the last seven years, I’ve experienced firsthand how overwhelming it can be to carry the weight of someone else’s well-being while navigating the complexities of care and treatment. For too long this struggle has been accepted as just another part of life, but Synapticure refuses to accept that. Synapticure is designed to not only make high-quality care accessible, but to ease the burden on patients and caregivers by providing immediate access to expert neurologists, comprehensive wraparound care, and caregiver support services. With the support of B Capital as well as both new and existing blue-chip investors, I am proud Synapticure works to reach patients in any community across the U.S. living with one of these conditions so they can receive the expert, personalized specialty care they deserve.”
Neurodegenerative diseases affect more than 10 million people across the United States, with demand for accessible, comprehensive care continuing to increase as the population ages. Many patients currently wait more than six months for specialist appointments and live far from care facilities, often leading to delayed diagnosis and missed treatment opportunities. By providing access to appointments within two weeks, Synapticure provides high-quality comprehensive care, including guidance on treatments and clinical trial options. Synapticure partners with accountable care organizations (ACOs), health systems, and health plans to lower costs, improve quality of life, and increase access to care for patients and caregivers across all 50 states.
“We believe in the tremendous potential of Sandra, her team, and the Synapticure platform as they continue to innovate in the virtual care space for neurodegenerative diseases,” said Adam Seabrook, Partner at B Capital. “Synapticure’s mission to provide accessible, high-quality care for neurodegenerative diseases aligns closely with our focus on investing in transformative healthcare companies led by visionary founders. With the investor group’s combined expertise and resources, we believe this collaboration will continue to drive advancements in the treatment and care of patients living with Alzheimer’s and related dementias, Parkinson’s, and beyond.”
“CommonSpirit has a strong track record of supporting innovation in health care both inside and outside the walls of our hospitals,” said Anuradhika A., System Vice President, Strategic Partnerships at CommonSpirit Health “We believe we go farther, faster when we work with partners who champion new models of care, and our patients benefit from it”.
About Synapticure
Founded by Sandra Abrevaya, Brian Wallach, Peter Wallach, Jason Langheier, and Jonathan Hirsch, Synapticure is a patient- and caregiver-founded virtual care provider offering instant access to expert neurologists, cutting-edge treatments and trials, wraparound care coordination, and behavioral health support in all 50 states. Partnering with providers and health plans, including CMS’ new GUIDE dementia care model, Synapticure is dedicated to transforming the lives of millions of individuals and their families living with neurodegenerative diseases like Alzheimer’s, Parkinson’s and ALS. For more information, visit our website.
About B Capital
B Capital is a multi-stage global investment firm that partners with extraordinary entrepreneurs to shape the future through technology. With more than $7 billion in assets under management across multiple funds, the firm focuses on seed to late-stage venture growth investments, primarily in the Technology, Healthcare and Climate sectors. Founded in 2015, B Capital leverages an integrated team across nine locations in the US and Asia, as well as a strategic partnership with BCG, to provide the value-added support entrepreneurs need to scale fast and efficiently, expand into new markets and build exceptional companies. For more information, click here.
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SOURCE Synapticure
