Berlin – SMP provided comprehensive legal advice to Leaps by Bayer on the Series B financing round of Berlin-based digital health company Ada Health. The financing round has a size of $90 million and was led by Leaps by Bayer. In addition, investors Samsung Catalyst Fund, Vitruvian Partners, Inteligo Bank, F4 and Mutschler Ventures participated in the round.
Leaps by Bayer is the impact investment unit of life science company Bayer AG, which uses its investments to find solutions to some of the biggest challenges of our time in the areas of health and agriculture. The investment in Ada Health is Leaps' first transaction in Germany.
An SMP team led by Stephan Bank comprising further team members Florian Wilbrink, Christoph Lüttenberg and Peter Schäfer provided comprehensive advice to Leaps on this transaction.
Ada has developed a powerful artificial intelligence (AI)-based health analytics platform. It is designed to help users better understand their symptoms and identify and differentiate disease patterns with great medical accuracy. At the same time, the platform helps users to find the appropriate medical care in a timely and safe manner. Targeted at consumers, the Ada app has already recorded more than 23 million health assessments performed worldwide since its global launch. According to the company, the goal of the financing is to further advance Ada's technologies and accelerate the company's path to becoming the global leader in personalized digital health. The company also aims to strengthen its leading position in the US.
"We are very happy to have supported the Leaps team on this investment in a German company which strives to increase global access to healthcare through digitization," says Stephan Bank.
Advisors Leaps by Bayer: SMP
Dr. Stephan Bank (Lead) | Dr. Florian Wilbrink | Dr. Christoph Lüttenberg | Peter Schäfer
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