Existing investors were joined by Founders Fund and Playground Global to help Virta invest into growth after strong peer-reviewed clinical trial results

SAN FRANCISCO, California – April 4, 2018: Virta Health, the first company with a clinically-proven treatment to safely and sustainably reverse type 2 diabetes (T2D) and other chronic metabolic diseases without the use of medications or surgery, announced it has raised a $45 million Series B funding round, bringing the total equity funding to $75 million to date. Key existing investors including Venrock, Obvious Ventures, Creandum, Caffeinated Capital, and Max Levchin’s SciFi VC participated in the round, along with new investors including Founders Fund and Playground Global.

“Virta has created a far better approach to treating type 2 diabetes,” said Bob Kocher, MD, Virta Board Member and Partner at Venrock. “The Virta Treatment actually reverses the disease rather than delaying complications from ongoing management. This is much better because it eliminates suffering and saves far more money than traditional approaches. We are incredibly excited to be part of this vision.”

According to the most recent data from the Centers for Disease Control and Prevention and American Diabetes Association, 30 million people in the U.S. have diabetes, creating an estimated $327 billion economic burden. Cardiovascular disease, a common T2D comorbidity, is even more prevalent, affecting more than 1 in 3 adults in the U.S. (about 92.1 million) and costing the nation over $316 billion.

The clinically-proven Virta Treatment reverses type 2 diabetes and significantly improves several chronic comorbidities, taking direct aim at these skyrocketing healthcare costs and nearly one-third of the more than $3 trillion in annual U.S. healthcare spend.

Recently released 1-year peer-reviewed results from Virta’s ongoing clinical trial demonstrated that the Virta Treatment can quickly reverse and then sustain T2D reversal at one year while substantially improving obesity, blood pressure, cardiovascular disease risk and inflammation. 60 percent of patients receiving the Virta Treatment had T2D reversed and 94 percent of insulin users reduced or stopped usage altogether. Virta estimates that the medical and pharma cost savings alone total $9,600 on average per patient in the first two years.

With a clinically-proven approach, high patient satisfaction and successful enterprise deployments, Virta will use its Series B investment to further improve outcomes, scale the Virta Treatment and invest into growth to help millions of people suffering from reversible chronic diseases.

“We have a unique opportunity to define the standard of care for chronic disease treatment,” said Sami Inkinen, Virta co-founder and CEO. “This requires substantial investment in machine learning and AI to provide accessible technology tools for both patients and clinicians, in addition to key hires in the product, engineering, data science, and clinical teams.”

Virta will also be investing in its commercial capabilities to drive additional partnerships with employers, health plans, and government, while staying committed to being evidence-based through conducting high-quality research.

“After seeing how it helped me, my doctor not only loves Virta, he recommends it to his other patients, “ says Virta patient Richard Katz. “I tried so many diabetes treatments that failed. This should be the first step people take, before they take medications and insulin.”

For more information about Virta Health and the science behind reversing type 2 diabetes and other chronic metabolic diseases, visit www.virtahealth.com.

About Virta Health

Virta Health delivers the first clinically-proven treatment to safely and sustainably reverse type 2 diabetes and other chronic metabolic diseases without the use of medications or surgery. At one year, 60% of patients in our clinical trial achieved diabetes reversal, 94% of insulin users reduced or eliminated usage altogether and 83% of patients remained active in the trial. Results extended beyond diabetes reversal, with sustained improvements in blood pressure, inflammation, cardiovascular markers, insulin resistance and weight loss. For enterprises, Virta saves nearly $10,000 per patient in medical expenses over the first 24 months while tying treatment fees to successful outcomes. The Virta Treatment, delivered through a technology-enabled online clinic, will help millions of people get their lives back while making type 2 diabetes a thing of the past. To learn more, visit www.virtahealth.com or follow us on Twitter @virtahealth.

8 Comments

  1. Elizabeth Harrison April 4, 2018 at 4:22 pm

    This is awesome news and incredible effort to be commended. It is changing my life for the better and I’m proud to be in the program. Virta staff are heroes and lifesavers.

    Reply

    1. Thank you Elizabeth! And I’m very glad we’ve been able to help you personally.
      /sami

      Reply

      1. Shoban jaligama April 12, 2018 at 4:11 pm

        I want to reverse too, do you have a clinic in chicago

        Reply

        1. Virta Health

          We are open nationally! Our physicians are licensed in every state, and you’ll meet with your physician through telemedicine (video). You can learn more and apply here: https://www.virtahealth.com/thevirtatreatment

          Reply

  2. What’s the monthly costs now?

    Reply

    1. Virta Health

      Most of our existing patients come in through their employer-sponsored health plans, and for these patients, Virta is free and a fully-covered benefit. We also offer an out of pocket option which costs about $370 per month and a patient assistance program to help cover the costs for those who qualify. We are covered by select insurance plans and are working hard to make Virta available to everyone through insurance. You can learn more and apply here: https://www.virtahealth.com/thevirtatreatment

      Reply

  3. You are awesome Virta. Every country needs a Sami Inkenen! NOW!

    Reply

  4. Virta, you are not the first to prove reversal. Not even close! Ever heard of the PCRM which has started thousands of people on a low fat plant based diet for diabetes reversal? The PCRM has research from years ago that does not involve ketosis or shorting the body of glucose- it’s primary source of fuel. Look how many participants feel off after 1 year! Why? Because ketosis is neither safe nor sustainable. No one wants or should eat high fat long term and insulin resistance is due to fat overload within the cells, not carbohydrates. Carbs are broken down and stored as glycogen for energy storage. Within reasonable calorie limits a diet rich in fiber, plants, grains, beans, veggies, and fruit, is sustainable, anti-inflammatory, cholesterol free, reverses diabetes, is long-term, and provides people with ample amounts of energy to exercise at the same time. Ketosis is not the answer. This is one study with .001% of the diabetes population.

    Reply

Leave a reply

Your email address will not be published.