Research project HedaX aims to develop a new platform to securely handle health data

Research project HedaX aims to develop a new platform to securely handle health data

Copenhagen Demark – 22 June 2020. The Research Project HedaX received EUR 16 million from the Danish Innovation Fund to develop a digital platform that can securely collect and exchange health data. This tool will provide researchers with the basis to offer better, personalised medicine.

In the current world situation, the spread of a new virus has fatal consequences for society. The spread of infection can be curbed by collecting and exchanging data, although this raises the concern that it may compromise an individual’s privacy; therefore, there is a need to find a digital solution where the exchange of deeply personal health data is exchanged anonymously and securely.

 

THE DANISH RESEARCH PROJECT HEDAX HAS A SOLUTION

The HedaX project will initially test the solution in two pilot projects that involve 1,000 cancer patients and 1,000 people with bipolar disorder. The goal is to use this new health data to gain insight into how the treatment is helping patients.

The high-level goal is to demonstrate that sharing personal health data can help develop better-personalised care while making good sense in terms of health.

The HedaX project involves ten public and private partners that will work together to develop a platform that ensures health data is securely collected and exchanged between individuals, healthcare professionals, and researchers.

The data collected by the solution would include an individual’s medical history, medication compliance, and personal sensor data, such as the data collected by fitness apps.

The analysis of this data should provide a basis for better and cheaper treatment in the form of personalised medicine.  The platform should also be used to monitor in a confidential way the spread of an infection so that it is possible to identify where the infected individuals are located, without knowing who they are.

The newly developed platform should include the latest and most secure data encryption from various sources, such as the individual’s mobile phone, to the Social Security Registry and government’s databases.

Individuals should be able to get an overview and insight into the data that is being used, the entity using the data, and its purpose.

The Monsenso mHealth solution will be used to collect objective and subjective data from 1,000 individuals with bipolar disorder. The data will be anonymized and incorporated to the Registry data and EMR data to provide a new foundation for deep phenotyping, personalised medicine and overall understanding of real-life drug effectiveness.

“During the past five years, the Monsenso mHealth solution has been used in different research projects around the world to securely collect and share data between individuals with a mental illness and their healthcare professional. The scope of the project is rather familiar to us, and we are looking forward to participating in this project and helping individuals maintain their privacy while their data is safely collected and used to improve future treatments,” says Thomas Lethenborg, CEO of Monsenso.

 

The HedaX partners:

Secata is a pioneer in the commercial application of advanced encryption for data sharing. Their technology is based on more than 20 years of groundbreaking research in secure multiparty computation.

The Data for Good Foundation is a newly established foundation with non-profit purposes, based on GDPR legislation, that helps individuals share and retain control over their data.

DataFair is an entrepreneurial company with a particular focus on data-driven innovation and personalised medicine based on Denmark’s reliable health data.

The Alexandra Institute works with applied research in the field of digitisation and has helped develop encryption technology within the health sector.

The Danish Cancer Society is Denmark’s largest patient organisation.

Lundbeck is a Danish pharmaceutical company working on the development of pharmaceuticals within psychiatry and neurology.

Monsenso is a Danish company that develops mobile health solutions that help individuals collect information on their mobile phone to use it for prevention and treatment.

The Danish Capital Healthcare Region (Region H) offers Monsenso’s solution to patients within psychiatry.

DPO Management advises on secure and confidential sharing of data with a focus on GDPR rules.

Clinical Epidemiological Department at Aarhus University works with analysis of health data.

To read the Danish version, click here. 

For additional information contact:

Jennifer Highland
Marketing Consultant
marketing@monsenso.com
Monsenso

Monsenso’s IPO offering was oversubscribed by 238%

Monsenso’s IPO offering was oversubscribed by 238%

Copenhagen Demark – 3 June 2020. Monsenso A/S today announced the result of the new share offering in connection with the IPO on Nasdaq First North Growth Market Denmark.

Monsenso’s IPO offering was oversubscribed by 238%, which means that the company offer of DKK 16-20 million new shares was extremely well received by both professional and private investors, which together have subscribed for DKK 47,504,123, corresponding to the maximum offering.

The subscription period closed on 29 May 2020 at 23:59 hrs. CEST time. The company’s offering of up to 3,773,585 shares, at a price of DKK 5.30 per share has come to an end and will provide the company with gross proceeds of DKK 20 million and result in a market cap of DKK 70.04 million.

Monsenso received subscriptions from 2,219 investors for a total of 8,963,042 shares corresponding to the offering being oversubscribed by a total of 238%.

The first trading day on Nasdaq First North Growth Market Denmark is expected to be on 10 June 2020.

CEO Thomas Lethenborg, Monsenso said:

“The IPO offering was very well received by professional and private investors, including great participation in our online investor meetings. We have now received the necessary funding to strengthen our sales efforts, customer support, and to further develop our mHealth solution for mental health. We now have to live up to the trust and expectations coming from our 2,219 new shareholders. We look forward to being a listed company and welcoming the continued support from our many new shareholders.”

Summary of the Offer:

  • Monsenso issued 3,773,585 new shares at a subscription price of DKK 5.30 per share, which gives gross proceeds of DKK 20.0 million
  • Based on the offer price, Monsenso’s market cap is now DKK 70.05 million
  • Free float (the proportion of the share capital owned by the new shareholders) is 27.05%
  • Due to the great interest in the offering, all orders up to and including DKK 150,000 have been allocated 720 shares plus 20% of the number of shares subscribed for in addition to the 720 shares
  • All orders over DKK 150,000 have been reduced individually based on the company’s assessment
  • All pre-offering subscribers have received a full allocation.

For additional information contact:

Thomas Lethenborg
CEO Monsenso
lethenborg@monsenso.com

What Is the difference between a health app and an mhealth solution?

What Is the difference between a health app and an mhealth solution?

Over the past few years, mHealth solutions have begun to solve some of the problems that are ailing healthcare. MHealth is paving the way for better data management, doctor-patient communication, reduced hospital admissions, medication adherence, and remote patient monitoring. 

MHealth solutions are improving outcomes in measurable, repeatable ways by connecting patients with their doctors. 

In 2017 mHealth captured $23 billion in revenues, with an estimated growth rate of 35% annually over the next several years.

What is the difference between a health app and an mHealth solution?

Health apps are application programmes that offer health-related services for smartphones, tablets, PCs, and other communication devices.

The most popular categories of health/wellness apps are: 

  • Sports and fitness activity tracking
  • Diet and nutrition
  • Weight loss coaching
  • Medication tracking
  • Sleep cycle
  • Stress and relaxation
  • Meditation
  • Menstrual period tracking
  • Pregnancy
  • Hospital selection and appointment tracking

Health apps can provide valuable information to users. However, it may be hard to determine the accuracy of the information provided, and may not be easy to share this data with the user’s doctor.

mHealth or mobile health refers to the practice of medicine and public health supported by mobile devices such as mobile phones, tablets, personal digital assistants and the wireless infrastructure. It encompasses all applications of telecommunications and multimedia technologies for the delivery of healthcare and health information.

Why is mHealth used?

  • Provides education and awareness
  • Assists with diagnostic and treatment support
  • Enables remote data collection
  • Facilitates remote monitoring
  • Enables telemedicine
  • Supports chronic disease management
  • Support medication compliance


Numerous mHealth initiatives across the world have demonstrated the efficacy of using mobile devices to deliver better care in a cost-effective manner.

Health apps and mHealth solutions can both be used on-the-go. However, the main difference is that health apps are for consumers-only and mHealth solutions improve the collaboration between patients and healthcare professionals. 

Many mHealth solutions offer different types of information sharing, such as data collection through patient self-assessments, electronic questionnaires, and sensor data. They can also offer emergency action plans and an encrypted messaging system that allows direct communication with the clinic.

Many mHealth solutions are considered certified medical devices that have a proven record of helping healthcare professionals in the monitoring and treatment of their patients. 

The Monsenso mHealth solution for mental health has been technically and clinically validated in various clinical evaluation studies and randomised clinical trials (RCTs). It holds a class 1 CE mark, a TGA certification, and is HIPAA compliant.

References:

mHealth (Mobile Healthcare) Ecosystem Market: 2017-2030 – $23 Billion Opportunities, Challenges, Strategies & Forecasts.

Health apps definition.

What is mHealth?

 

Transforming healthcare with technology-enabled care

Transforming healthcare with technology-enabled care

Connected health or technology-enabled care (TEC) is the collective term used for telecare, telehealth, telemedicine, mHealth, digital health, and eHealth services. TEC is now seen as a fundamental part of the solution to solve many healthcare challenges.

TEC helps people self-manage their health and wellbeing, alert healthcare professionals in case of any changes in an individual’s condition and support medication adherence.

It also helps clinicians and care providers deliver more efficient and cost-effective care.

Digital technology is advancing exponentially, and its cost is becoming more affordable. The demand for more cost-effective healthcare is rising. Now more than ever, healthcare authorities need to adopt new technologies to help meet these challenges.

 

An ageing population

The population is increasing, and people are living longer. These two factors, in addition to a rise in chronic conditions, present new healthcare challenges.

In the United States, population projection reports that older adults currently make up about 15% of the population, and by the year 2060 is estimated to amount to 23.5%

There are similar numbers reported for Europe, where the group of 65-year old or older make up 19% of the population and is predicted to amount to 29% of the total population by the year 2080.

 

Use of mobile devices is increasing amongst all age groups

A 2019 report conducted by Provision Living, a senior living community in the U.S.,  revealed that on average, Baby Boomers (born between 1946 and 1964) and millennials (born between 1981 and 1995) spend on average, five hours a day on their smartphones.

Smartphone adoption among Americans:

  • Aged 50 to 59 is 86%
  • Aged 60 to 69 is 81%
  • Aged 70+ is 62%

 

Other market drivers

The demand for apps and wearable devices is also being driven by an increased focus on personalised care. Large pharmaceutical companies are now using apps and wearables to gather valuable health-related patient data, support their research, and provide an holistic service to patients.

In 2014, the leading pharmaceutical companies had an increase of 63 % in unique apps compared to 2013. In just one year, the total number of downloads of pharmaceutical apps increased by 197% as shown in Figure 1. These apps deliver education and training, can titrate medication and monitor compliance.

Figure 1. The number of apps published by leading pharmaceutical companies, 2013 and 2014.

There has also been an increase in online patient communities, using social media as a platform to exchange experiences with patients and carers.

Increasing patient trust in health apps

There is strong evidence that patients are now more than ever concerned about self-care, and they are interested in boosting their health and wellbeing. In addition to this, health technology companies are working to improve the quality of apps, increase user confidence and trust, and launch informed decision-making in app selection for health professionals, patients and the public.

Agencies like the US Food and Drug Administration (FDA), or NHS Choices and its NHS Health Apps Library have developed criteria that judge apps for safety and technical proficiency. For example, for apps to be included on the NHS Choices search website, which in early 2015 lists around 150 apps, they must be reviewed by a technical team (testing relevance, legal compliance and data protection), then by a clinical team (to test scientific rigour).

PatientView is an independent organisation that has developed a systematic method of appraising health apps. Until April 2015, there were 363 apps recommended for the Apple platform and 236 for Android, with smaller numbers recommended for use on other platforms.

In 2014, PatientView undertook a survey of 1,130 patient group members to identify what people want from health apps as shown in Figure 2.

Figure 2. What do patients and carers want from health apps?

References:

Connected Health: How Digital technology is transforming health and social care. Deloitte Health.

Forget Generational Stereotypes, Baby Boomers Are Just As Addicted To Smart Phones As Millennials. 

Older Adults Keep Pace on Tech Usage.

An Aging Population, Larger Chronic Disease Burden, and Reliance on Digital Self-Management Tools Require Contributions from Nurse Informaticians.

Interview with Monsenso’s Chairman Jukka Pertola

Interview with Monsenso’s Chairman Jukka Pertola

Q&A with Monsenso’s Chairman Jukka Pertola

Describe your role in the company
“I joined the company because I have an understanding of IT and software and long-standing experience of working on different boards. When a small company like Monsenso is going public, all the governance structures need to be in place, and that is where I come in. I have previously taken GomSpace to First North in Stockholm. When I joined GomSpace as Chairman of the Board, there were 30 employees, and today they are 150 with a sizeable turnover.”

What is your most important contribution as Chairman of the Board?
“My most important contribution as the Chairman of the Board will be to establish a solid governance structure for when the company goes public. It is my goal to ensure that Monsenso is successfully noted on Nasdaq First North Growth Market this summer.”

 Why did you choose Monsenso?
“Monsenso is an exciting, small company that works within a field where the demand for smart IT-solutions is enormous. The company has a clear positive impact and a very well-defined purpose, and I am proud of the of it, that is why I chose to become the chairman.

Besides, mental health problems are widespread, and according to many publications, hospitals lack the capacity and resources to treat people with mental health problems adequately.

Healthcare professionals need new and effective tools to improve patient-clinician communication and to optimize treatment, and that is a mission I am happy to help support. The pending stock exchange listing will raise capital to the future growth and Monsenso has a significant global potential with it’s certified mobile health solution.”

Can you say a few words about your relationship with Monsenso’s  CEO and CSO
“I know Monsenso’s CEO, Thomas Lethenborg from Siemens, where we worked together closely. Thomas is a competent and experienced leader with a comprehensive understanding of IT and technology, including software services. I believe he is right for Monsenso, and I am looking forward to taking the company public this summer.

I also have a deep trust in Jakob Bardram, who is a respected professor at DTU, and the CTO of Monsenso. Jakob and I have also worked closely, during my time at Siemens. Jakob combines technical knowledge with a deep understanding of mental healthcare, ensuring that Monsenso’s mHealth solution is research-based and certified.”

Why did Monsenso decide to go public during the Corona crisis?
“It is a very uncertain market at the moment, and many companies are postponing their listings. However, since physical contact and doctor’s appointments are minimal at the moment,  all types of mobile health solutions are in high demand, and the Monsenso mHealth solution is a fantastic tool for mental healthcare professionals. Furthermore, when the world is becoming more uncertain and volatile, and we are subject to being somehow isolated in our homes, the need for mental health solutions like the one offered by Monsenso will increase. That is why we are maintaining our plans of going public in June.”

To read more about Monsenso’s intention to go public click on this link: https://www.monsenso.com/monsenso-is-ready-for-the-stock-exchange-after-continuous-growth/

For additional information contact:

Jennifer Highland
Marketing, Monsenso
marketing@monsenso.com