Lowenstein Sandler represented Big Health, a leading developer of digital treatments for the most pervasive mental health conditions, in a new round of strategic funding of $23.7M to accelerate access to its FDA-cleared, reimbursable solutions (SleepioRx for insomnia disorder and DaylightRx for generalized anxiety disorder (GAD)).
SleepioRx and DaylightRx are among just nine FDA-cleared treatments in CMS's recently established category of Digital Mental Health Treatments (DMHTs), a new class of reimbursable medical device treatments for mental health conditions.
The new round of funding was co-led by .406 Ventures and AlleyCorp, with participation from CVS Health Ventures, Blue Venture Fund, Sandbox Clinical Ventures, Gilde Healthcare, and Supermoon Capital, a syndicate with deep expertise in US healthcare and strong relationships across provider and payer ecosystems.
This funding will accelerate the commercialization of Big Health's FDA-cleared digital treatments, expanding access through strategic provider partnerships, integrating seamlessly into clinical workflows, and ultimately delivering safe, effective care to millions of patients in need.
The Lowenstein team included Anthony O. Pergola, Chad M. P. Weeks, Antonia E. Spano, Chynara Tolubaeva, and Jake Ironfield.