Biofourmis is a winner of FierceHealthcare's Fierce 15 awards. See our other honorees here.
Since its founding in 2015, digital therapeutics and remote monitoring startup Biofourmis has been trying to figure out how to move healthcare beyond the pill.
The startup recently made a deal with pharma giant Novartis to develop new digital therapeutic programs to help patients recently diagnosed with heart failure.
Biofourmis was tasked with getting patients on a digital platform to monitor their vitals and other metrics to detect any health problems before they occur.
“Patients on the drug will be subscribed to the platform and scan the QR code on the pill and get a kit sent to their home,” Biofourmis CEO Kuldeep Singh Rajput said. “The patient tracks the parameters and quantifies the pain levels and side effects and optimizes therapy which is the right dose to the patient at the right time.”
Fierce Insights from Biofourmis CEO Kuldeep Singh Rajput
What is your best piece of advice for launching a healthcare company that challenges the status quo?
One of the best pieces of advice is to focus on generating legitimate data and evidence that backs your product. Go through the right regulatory processes, which is time-consuming of course, but having all of these becomes an easy process to start getting commercialized.
You need to focus on the clinical unmet need and figure out the right solution for it.
What is the failure you’ve learned the best lesson from?
We started the company and started a postclinical trial focused on patients with heart failure. At that point and time, we were so focused on making sure we built our analytics engine and platform that could essentially detect heart failure in advance.
We started enrolling patients, and in that study we used a commercially available patch. We ignored the fact that patients need to use it. When we started putting the patches on patients, the compliance rate was very bad. Patients were having itchiness and not using the patch.
That was a great learning lesson for us that patient centricity and patient compliance and great user experience is an important aspect even if you build the best back end and best analytic ecosystem.
What is one change you predict in healthcare that people wouldn’t expect?
I’m a firm believer in moving beyond the pill. What I predict is that the future lies within pharma therapies, but how do you move beyond the pill. Services beyond the pill and the emerging field and I foresee pharma companies moving in that direction.
The value for the patient is about side-effect tracking, early detection and quantification and giving them precise optimal dosage.