Mahana Therapeutics, a leading provider of prescription digital therapeutics, announced today that the company has entered into a multi-million-dollar distribution and marketing partnership with the Consumer Health division of Bayer to commercialize digital therapeutics. Earlier this year, Bayer announced the launch of a new business unit focused on delivering new digitally enabled precision health products to market. Bayer is prioritizing development of products that enable people to take greater control of their own personal health through digital solutions that facilitate more informed choices based on personal insights and novel delivery mechanisms.
"This historic partnership is among the first major investments ever made by a global life sciences company into the emerging marketplace for digital therapeutics. Mahana is proud to collaborate with the Bayer team who share our view that digital therapeutics are a critical part of the future of healthcare," said Simon Levy, CEO of Mahana. "Through this agreement, we can further expand the availability of our innovative prescription digital therapeutics for patients and their caregivers around the world who seek effective treatment for chronic conditions."
David Evendon-Challis, Head of R&D and Chief Scientific Officer for the Consumer Health division of Bayer added, "Digital therapeutics are a perfect addition to our portfolio of care and tap into new tech-savvy consumers looking for drug-free treatments as well as help eliminate gaps in care provision. We’re excited to partner with Mahana Therapeutics and enter the field of digital therapeutics in consumer health."
About Mahana Therapeutics
Mahana Therapeutics is a leading developer of prescription digital therapeutics that are designed to empower patients with chronic conditions to live fuller lives. The company's first product, Mahana IBS, was the first digital therapeutic to receive FDA clearance for the treatment of IBS and provides cognitive behavioral therapy (CBT) to adults with IBS.
About Bayer
Bayer is a global enterprise with core competencies in the life science fields of health care and nutrition. Its products and services are designed to help people and the planet thrive, by supporting efforts to master the major challenges presented by a growing and aging global population. Bayer is committed to driving sustainable development and generating a positive impact with its businesses. At the same time, the Group aims to increase its earning power and create value through innovation and growth. The Bayer brand stands for trust, reliability and quality throughout the world. In fiscal 2022, the Group employed around 101,000 people and had sales of 50.7 billion euros. R&D expenses before special items amounted to 6.2 billion euros.