CuePath Innovation Inc. (“CuePath”, or the “Company”) announced that the Company has closed its Seed Round, oversubscribed at USD$1.8M. This includes a concurrent investment from Genome BC’s Industry Innovation Program (I2) Fund; seed funds E-Fund and Canada Innovation Acceleration Investment; and a group of technology, healthcare, and social impact Angel investors. CuePath is a healthcare technology company that solves the problem of medication non-adherence with smart medication packaging and remote medication monitoring.
Two thirds of North American seniors have at least two chronic conditions, forcing them to take multiple medications on a daily basis. Keeping track of medication dosages and timing throughout the day is a difficult task for many people resulting in medication non-adherence in nearly 50 percent of patients, 125,000 unnecessary deaths annually, and nearly $100B in avoidable costs to the US healthcare system.
CuePath has developed sensors for medication packaging and a connectivity platform that enables family members and care professionals to ensure their loved ones stay on track with medication. The product is simple-to-use because it converts existing medication packaging such as blister packs into smart packs, reminds patients to take medication on time, and enables caregivers, pharmacists and other trusted healthcare providers with the ability to remotely monitor a patient’s adherence.
“With this financing, the Company will be able to complete our user trials, ramp up manufacturing, and expand our market entry into pharmacies and health systems throughout North America,” said Victor Lesau, CuePath CEO. “I am also very pleased to announce that Angel investors Ms. Jennifer Thompson and Mr. Kirk Moir have joined our Board, together bringing years of technology executive and operations experience to the Company. We are very much looking forward to this next stage of the Company’s development.”
CuePath is a Vancouver-based healthcare technology company on a mission to help seniors and other vulnerable individuals stay healthy and independent with the support of their care team. We aim to provide care professionals with timely and accurate information needed to support users with their medication adherence. CuePath is a 2017 Techstars Seattle graduate, a Top 10 finalist in the 2016 New Ventures BC competition, and an active member of the VentureLabs® accelerator and the Wavefront™ community.