29 Jan

Sunday Business Post: Prognosis is good for remote medication monitoring

A medtech company’s special bin for patients who self-inject medications at home is one of a range of ‘digital therapeutics’ that could help improve health outcomes for people with illnesses like cancer and rheumatoid arthritis.

Article by Leanna Byrne

In November last year, medtech company HealthBeacon announced it was looking to raise €5 million, to bring its total funding to €8 million. By now, it is €2.5 million into its funding and will launch into another 11 markets by the end of 2018.

These kind of investments are common for companies with the next blockbuster drug or game changing medical device, but HealthBeacon though only four years old, finds itself in one of the hottest new areas in the health sector: Digital Therapeutics. Digital therapeutics, or “digiceuticals,” as some call them have become a Holy Grail in some quarters of Silicon Valley, where investors see the chance to deliver medicine through your smartphone.

How it works is that the app or platform helps treat diseases by modifying patient behaviour and providing remote monitoring to improve long-term health outcomes.

HealthBeacon has developed a special bin for patients who self-inject medications at home. The bin is digitally connected to its technology platform, which helps patients keep to their medication schedule with digital reminders. Equally, healthcare professionals will know whether or not their patients are keeping on track with their meds. “There is no real way of knowing whether someone took their medications other than by asking them,” said Jim Joyce, chief executive of HealthBeacon.

The key difference between digital therapeutics and wellness apps is that HealthBeacon tailors its treatment programmes to specific ailments, like cancer or rheumatoid arthritis. Since patient behaviour is important in preventing and limiting the severity of these illnesses, these digital health programmes, combined with human coaching and interaction, can make a significant difference in health outcomes.

“The whole issue of people doing what the doctor said is pretty well known. If people don’t, then it costs the system a lot of money and it can compromise a lot of people’s health,” said Joyce.

Originally from Boston, Joyce first came to Ireland to work in the pharma industry before he went out on his own in 2006 to start health services company Point of Care. The company specialised in medical and infusion care and worked through a network of community care clinics. Joyce spent 8 years building up Point of Care, where he is still a director. But Point of Care’s work led him to notice the patients who were on injectable medications and were administering their own medication at home.

“The idea for HealthBeacon was that we took this medical waste bin and turned it into a digital healthcare assistant. We encased a traditional waste bin and can give information about the place and time to take your medication. If you take it, we know from the disposal of the injection into the box. If you don’t take it, that information goes to your healthcare provider,” said Joyce.

Joyce met Kieran Daly, co-founder of HealthBeacon, when he was chief executive at Shimmer and asked him to take a look at his idea. The next step was to get regulated and to test the product with early pilots in pharma companies in Ireland. Next came global pilots in ten markets, which led to big contracts with pharma companies.

“We’re now at a stage where we’ve got the product pretty well penetrated in the Irish setting. We’ve launched it into eight different countries, from Canada to throughout Europe. Then we’ll be into another 11 markets by the end of 2018 as per the agreements that we have, including the US,” said Joyce.

The €5 million funding round is expected to be closed by March, while HealthBeacon’s FDA approval is expected to come in Q1 this year.  The company, which employs 20 staff in Dublin, also has offices in Boston and Montreal and will add another 20 staff across these locations.

“Getting the US market launch is probably the number one resource. We’ve got lots of ideas for new products that we want to start working on. We want to move beyond just injectable medications into pills and some other areas,” said Joyce.

HealthBeacon is also planning to enter Mexico and Brazil by the first half of this year, with a long-term focus on Latin America.

But even though Joyce believes the only way to hit critical numbers is to look outside Ireland, he views what companies are now doing in the Irish medtech industry as very exciting. “I definitely see more activity in medical technology and the digital health area. It’s still kind of emerging. I see lots of interesting companies. It’s a good time,” said Joyce. “We were able to get really deep market penetration in Ireland, in order to show people the product worked, which would have been harder if we were in Britain or the US.”

https://www.businesspost.ie/technology/prognosis-good-remote-medication-monitoring-407507

07 Jan

HealthBeacon to Present at JP Morgan Conference

(Dublin, Ireland) HealthBeacon Ltd., a privately held and innovative connected
medicine company, announced today that Chief Executive Officer Jim Joyce, is scheduled to
present during the JP Morgan Conference at both the Biotech Showcase and the Digital
Medicine Showcase. The conference takes place in San Francisco from January 8th to January
10th .
HealthBeacon’s presentation times and venues:

  • Biotech Showcase on Tuesday, January 9th , 2018 at the Hilton San Francisco Union
    Square, 333 O’Farrell Street at 1:45pm (PST) – Franciscan A Ballroom Level.
  • Digital Medicine & Medtech Showcase on Wednesday, January 10th , 2018 at the hotel
    Parc 55 San Francisco at 2:15 pm (PST) – 4th Floor Magnin III

 

About HealthBeacon: The company headquartered in Dublin, Ireland with offices in Boston and
Montreal was established by serial medical technology entrepreneurs, Jim Joyce (CEO) and
Kieran Daly (CTO) to address an opportunity to use digital health technology to target the
medical adherence of high value medications. HealthBeacon’s award winning “smart sharps
solution”, connected via Internet of Things (IoT) technology, addresses medical adherence for
patients on chronic injection therapy in conditions like Diabetes, Multiple Sclerosis, Rheumatoid
Arthritis, Crohn’s Disease, in addition to various respiratory conditions. HealthBeacon has moved
at high velocity from concept to global roll-out in only four years. The solution is already available
and operating in 8 countries, in conjunction with major Pharma companies and is launching into
an additional 11 countries in 2018. HealthBeacon’s application for FDA clearance was submitted in August 2017, with anticipated US commercial availability in Q1 2018.

Follow us on
Twitter: https://twitter.com/healthbeaconinc
LinkedIn: https://ie.linkedin.com/company/healthbeacon

Contacts
Brie Kelly, brie@healthbeacon.com
www.healthbeacon.com

22 Dec

HealthBeacon Smart Sharps System is approved by Israeli Ministry of Health and launched into the Israeli market

HealthBeacon were honoured to host Israeli Ambassador Zeev Boker, Deputy Ambassador Orli Weitzman and Commercial Representative Colin Sheena to our Dublin offices this week to mark the launch of HealthBeacon in Israel.

For Israeli patients that take injectable medications it is often a struggle to stay on their treatment schedule, now they can have access to our medical adherence tools and platform.

We are excited to launch in Israel with our first Patients going live this week. This is a key milestone in our development and along with our Partners we look forward to building on this success based on a shared approach to innovation in Patient support. Jim Joyce, CEO, HealthBeacon

Ambassador Zeev Boker & CTO Kieran Daly exchanging gifts.

 

22 Nov

HealthBeacon Announces New Round of Investment Funding

Dublin based med tech company, HealthBeacon, this morning announced the company is embarking on a new round of investment funding seeking €5m before 2018 year end.

The announcement was made at “Investing in Digital Health” a major private investor event hosted by the digital health company earlier this morning. The breakfast event in Royal College of Physicians gathered authorities from medical tech, med entrepreneurs, investment trailblazers and medical experts from all over Ireland.

A keynote presentation regarding “Emerging Trends and impact of Digital and Connected Heath” was delivered by Chandana Fitzgerald, Medical Lead, HealthXL.

HealthBeacon designed “Investing in Digital Health” to bring together some of the most forward thinking technology and healthcare minds to discuss the growth and opportunity for investing in digital health around the panel discussion on ‘Emerging trends and impact of connected health’ – from a Global Perspective.

‘We believe that investing in Digital Health not only substantially improves patient outcomes and delivers a return for national health systems, it creates new employment and investor returns also. Ireland is building on its reputation in the Life Sciences and Medtech arenas by now producing quality Digital Health companies such as Health Beacon that are capable of competing Internationally. We see this as a major area of interest going forward.’ Liam Kiely of Cantor Fitzgerald

Event panellists, led by Mike Ryan, Founding Director of Irrus Investments as panel moderator included Jim Joyce CEO HealthBeacon, Conor Hanley, CEO, Fire1 and Rosanne Longmore, CEO Coroflo who were recently awarded €250,000 from Enterprise Ireland and successfully raised €900,000 within its first six months.

We are excited to announce HealthBeacon’s next investment phase, as we continue to move towards global connection of healthcare through assisting in clever patient medication management and revolutionizing medication adherence.   Our technology provides powerful insights for medics by providing real world patient data.  Jim Joyce, CEO, HealthBeacon

To date HealthBeacon has raised over €3m with current investors including Elkstone Partners and Oyster Capital.

HealthBeacon were recently awarded ‘Pharma Project of the Year – Large’ at the Pharma Industry Awards 2017.  HealthBeacon announced the creation of 20 new jobs for the Dublin based digital health earlier this year.

The “Smart Sharps System” helps patients adhere to their medication schedule. Current estimated costs to manage medication non-adherence is estimated to be $290 billion in the US market alone. The use of HealthBeacon smart technology aims to make a dramatic impact to cost savings within the healthcare industry. The expansion of the platform will provide access to the technology globally in Europe, North America, South America and the Middle East.

 
06 Oct

Award Winning Technology

HealthBeacon’s award winning technology received honours last night at the Pharma Industry Awards. HealthBeacon was recognised last night as the Pharma Project of the Year-Large. The award is to recognise an outstanding project undertaken in Ireland’s Pharma industry over the past 12 months. This award was received by Jim Joyce, CEO of HealthBeacon. The award was sponsored by Dawsonpharma Ireland.

The evening’s winners were revealed at a black tie gala evening where the cream of Ireland’s pharma industry was recognised and celebrated in front of hundreds of senior executives.

Attending the event for HealthBeacon, were Jim Joyce, Founder and CEO; Kieran Daly, Founder and CTO; Dave Shanahan, President of Partnerships; Paul Ryan, Head of Operational Effectiveness; Brieanna Kelly, Marketing Director; Richard Shattock, Manager of Strategic Projects; Joyce Power, Quality Manager.

02 Oct

HealthBeacon Awards Season Continues

HealthBeacon’s awards season continues through November, as HealthBeacon is proud to announce that we have been selected as a finalist for the 2017 Export Industry Awards. This nomination comes as HealthBeacon will be attending the Pharmaceutical Industry Awards later this week, and the Irish Times Innovation Awards on October 11th.

According to the Irish Exporters Association “The Export Industry Awards are organised by the Irish Exporters Association (IEA) to recognise the remarkable achievements of companies working in the export industry. Companies can enter from 11 Categories and be in with a chance to be selected as the 2017 Exporter of the Year. The awards acclaim all export industry sectors recognising emerging exporters as well as established indigenous exporters of manufactured goods and services, and onward to the big hitting multinational exporters. There is an opportunity for companies trading successfully in tough European markets and for those companies trading in high growth markets. Entrants may range from small start-up companies to large international corporations depending on the category.”

The nomination is for the Small and Emerging Exporter of the year award, which distinguishes the exceptional performance of micro, small and emerging companies either in the services or the manufacturing sectors who are demonstrating early stage exporting potential.

The awards will be presented November 17th at a gala event in Dublin.

14 Sep

Irish Times Features HealthBeacon

The Irish Times ran a feature article today for Innovation Award Finalist, HealthBeacon. HealthBeacon is a finalist in the Life Sciences and Healthcare Category. In an article written by Olive Keogh, HealthBeacon is recognised for innovation and for changing the face of medication adherence. Keogh writes “Apart from being smart, the HealthBeacon bin also looks smart. Normal sharps bins are brightly coloured clunky plastic containers plastered with warnings. Not exactly an aesthetic addition to any home. The HealthBeacon bin is neat and discreet and constantly displays the user’s adherence score to ensure ongoing patient involvement in their own care.” The article also discusses the steps that HealthBeacon founders Jim Joyce and Kieran Daly have taken to address patient needs on an industry level.

As a finalist in the Life Sciences and Healthcare Category, HealthBeacon is also eligible for the overall award of Innovation of the Year. The Irish Times Innovation Awards Showcase rewards excellence in innovation across a range of groundbreaking products and services. The HealthBeacon team will be present at the awards gala hosted by the Irish Times at the Royal Hospital Kilmainham in October.

Read the full article here. 

15 Aug

HealthBeacon Finalists for Pharma Industry Awards

The Pharma Industry Awards 2017 have recognised HealthBeacon as a finalist in two categories for Pharma Project of the Year, and Innovation of the Year. Since launching in 2014, the Pharma Industry Awards has established itself as the benchmark for excellence for those operating in Ireland’s pharma industry.

The Pharma Project of the Year award recognises an outstanding project undertaken in Ireland’s Pharma industry over the past 12 months. We believe the HealthBeacon project has received this special recognition due to the scale of the opportunity to impact the pharmaceutical industry. With billions of dollars spent annually, medication adherence is one of the most challenging issues facing the industry today.

The Innovation of the Year award recognises a company or organisation that has conceived a new product, packaging solution, process or technology that yielded significant results. This can include adapting or integrating an already existing solution. HealthBeacon is on the forefront of a patient data revolution and the possibilities are considerable. The information gathered by the HealthBeacon could support adherence, clinical trials, and product development to help the industry grow by leaps and bounds.

The finalists will be present and the winners will be revealed at the gala awards ceremony on October 5th at the Clayton Hotel Burlington Road, Dublin.

http://pharmaawards.ie

31 Jul

HealthBeacon featured in Sunday Times

HealthBeacon was featured in The Sunday Times on July 30th, about the advances and growth in the health technology industry. “Shot in the arm for medtech recruits: Health technology has made huge advances and now provides an array of rewarding job prospects.” By Sorcha Corcoran

“With the increasing use of digital technology in healthcare a number of med-tech start-up companies have emerged which are growing and hiring. These include HealthBeacon in Dublin and Nova Leah and Diaceutics in Dundalk.

HealthBeacon has designed a special bin for patients who self-inject medications at home. It is digitally connected and programmed with their personal medication schedule and uses customised reminders to help them stay on track with their medication. Founded in 2013, the company is looking to take on 20 people in Dublin.

‘We plan to hire people for a wide array of roles including product development, engineering and project management,’ said HealthBeacon’s marketing director, Brie Kelly.  ‘In a little over a year, we have grown from the founders to 17 employees and we expect very high growth over the next five years.’ Kelly moved from Arizona to work for HealthBeacon nine months ago. A marketing graduate, she previously worked for Banner Health, which operates 28 hospitals and facilities across six US states. HealthBeacon’s chief executive and co-founder Jim Joyce was born and raised in Boston and the company opened an office there last March.”

 

26 Jun

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