Bayer Leads $90 Million Investment Round in Ada Health

   By Kim Richters 
 

Bayer AG said Thursday that it has led a $90 million funding round in German company Ada Health GmbH, which has developed an app to assess health symptoms.

The pharmaceutical and chemical company invested via its Leaps by Bayer vehicle, while smartphone giant Samsung Electronics Co. also participated with its venture-capital fund Samsung Catalyst Fund. Other investors like Vitruvian Partners also joined.

Bayer is also discussing a potential longer-term strategic partnership with the Berlin-based company, which was founded in 2011. Ada Health has been developing technology related to health assessment and care, including an app to help assess users' symptoms using artificial intelligence. It will use the funding to work on its technology and expand further into the U.S.

"The timely detection of diseases is one of the biggest challenges in guiding consumers and patients to appropriate care, with under-diagnosis, misdiagnosis, and long patient journeys to diagnosis and care unfortunately being commonplace," said Bayer, adding that Ada could help shorten the time. The company would "increasingly leverage personalized data insights to support the prediction and prevention of diseases," said Bayer.

Write to Kim Richters at [e-mail]

(END) Dow Jones Newswires

May 27, 2021 09:44 ET (13:44 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.