SAN FRANCISCO--(BUSINESS WIRE)--Swing Therapeutics, a digital therapeutics company developing evidence-backed treatments for autoimmune and chronic pain conditions, today announced that it has closed a $10.3M Series A funding round led by JAZZ Venture Partners with participation by Alumni Ventures, AME Cloud Ventures, Asahi Kasei Corporate Ventures, Gaingels, Kicker Ventures, Mana Ventures, and Metrodora Ventures. The company also announced the commencement of its PROSPER-FM pivotal Phase 3 trial for its digital therapeutic for the treatment of fibromyalgia, which has received U.S. Food and Drug Administration (FDA) Breakthrough Device Designation.
The company plans to use its Series A funding to support the execution of the PROSPER-FM randomized clinical trial and to launch an affiliated telemedicine clinic.
“Closing our Series A financing and starting our pivotal trial mark major milestones for Swing on our mission to increase access to proven therapies,” said Mike Rosenbluth, Ph.D., founder and CEO of Swing Therapeutics. “Our team is looking forward to developing the evidence to demonstrate meaningful improvement in patients’ lives while meeting a real gap in patient care.”
The PROSPER-FM study is based on the company’s prior SMART-FM pilot study. Results from the study were presented at the American College of Rheumatology annual meeting in November 2021.
The PROSPER-FM study is investigating the effectiveness of two treatments for fibromyalgia: Digital Acceptance and Commitment Therapy (ACT), a form of cognitive behavioral therapy; and a Digital Symptom Tracker. Swing’s Digital ACT program is a daily-use digital therapeutic that includes engaging lessons and interactive exercises that help patients apply ACT principles to their unique circumstances and improve the ability to manage their condition over time. Swing’s Digital Symptom Tracker is a daily use digital therapeutic that includes common pain management approaches including monitoring daily symptoms over time and access to fibromyalgia and general health education.
“People living with fibromyalgia have limited treatment options, and behavioral therapies and other non-pharmacologic approaches are often not easily accessible,” said Lesley Arnold, M.D., Professor of Psychiatry and Behavioral Neuroscience at the University of Cincinnati and lead investigator of the PROSPER-FM study. "I’m looking forward to evaluating further how Swing’s therapy might improve fibromyalgia management using an approach that could be readily available to people with fibromyalgia, many of whom continue to have unmet treatment needs.”
“We are enthusiastic about Swing’s innovative approach to fibromyalgia, a painful condition that impacts every facet of the lives of its sufferers and disproportionately affects women,” said Chelsea Clinton, co-founder, Metrodora Ventures.
“We strive to support companies that fundamentally change patient management,” said Zack Lynch, Managing Partner at JAZZ Venture Partners. “We’re proud to continue to partner with the Swing Therapeutics team as it works to expand access to its therapy for patients.”
The company’s REACT-FM (Real-World Evidence from Smartphone-Based Acceptance and Commitment Therapy in Fibromyalgia) clinical trial is ongoing, with more than 100 people with fibromyalgia enrolled.
Swing Therapeutics Seeking Enrollees for Clinical Trial Assessing Digital Therapeutics for Management of Fibromyalgia
Swing Therapeutics is currently enrolling a clinical trial called PROSPER-FM (Prospective Study to Evaluate a Digital Regimen for Fibromyalgia Management). If you suffer from fibromyalgia and are interested in participating in a study assessing two investigational digital programs for fibromyalgia management, go to http://prosper-fm.com to learn more.
About Fibromyalgia
Fibromyalgia is a chronic and debilitating pain condition that affects an estimated 10 million Americans. The condition is characterized by widespread pain and other physical and cognitive symptoms that include fatigue, disrupted sleep, reduced physical function, memory problems and difficulty concentrating (“brain fog”), and is often accompanied by anxiety and depression. Because fibromyalgia manifests differently across the affected patient population and can be masked by other accompanying conditions, it is difficult to diagnose and treat.
About Swing Therapeutics
Swing Therapeutics was founded in 2019 with the goal of developing digital treatments and services in disease areas where patients are not well-served, and where digital interventions may be effective. Its focus is on tackling autoimmune conditions and chronic overlapping pain conditions (COPCs) like fibromyalgia where central pain sensitization is a significant factor. The company is investing in research to support the development of prescription-based digital therapies and services. Swing Therapeutics received FDA Breakthrough Device Designation for its digital therapy for fibromyalgia management. Its near-term goal is to validate its digital therapy and bring it to market as an FDA-cleared, prescription digital therapeutic. For more information visit swingtherapeutics.com.
