Original article published by PR Newswire on June 29, 2021
PharmStars, a digital-health accelerator that launched earlier this month, announces its founding pharma members: Boehringer Ingelheim, Eli Lilly and Company, Novo Nordisk, and Takeda.
As the first and only pharma-focused, non-proprietary accelerator for digital health startups, PharmStars focuses on bridging the "pharma-startup" gap. Its mission is to assist pharma and startups in overcoming partnership barriers, leading to greater success and faster adoption of digital health solutions to improve patient outcomes.
PharmStars provides startups with the education and mentoring required to improve their ability to engage with pharma as clients and partners. Pharma members receive priority access to this curated group of promising digital health startups that align with their digital health strategy. Members may also participate in tailored workshops focused on driving and supporting digital health adoption within pharma.
"We consider our founding members our partners and we are thrilled," says Naomi Fried, founder and CEO of PharmStars. "They are leaders in the digital health-pharma ecosystem, and their membership is a testament to their commitment to digital health innovation and working with startups. It's also a recognition of PharmStars' capacity to help them achieve their digital health goals."
Digital health startups are a crucial resource for PharmStars' members. "Lilly recognizes the tremendous value in working with startups," says Jim Parshall, Director of Connected Health & Devices External Innovation at Eli Lilly and Company. " Partnering with organizations outside of Lilly is vital to our device and connected health efforts and essential to our innovation. PharmStars' deliberate pharma focus is unique and will create new opportunities for Lilly to engage with startups."
Other members agree. "The access to start-ups vetted through PharmStars is of great value to our ongoing innovation efforts," says Robert Trotta, Executive Director, Business Innovation at Boehringer Ingelheim Pharmaceuticals. "PharmStars' bench of credible start-ups brings new capabilities and strategic partners to support, expand and help accelerate our breakthrough digital health efforts for our patients today, tomorrow and into the future."
PharmStars' startups are carefully selected to participate in PharmaU™ , a unique, comprehensive curriculum focused on the business of pharma. PharmaU culminates in a members-only Showcase Event where graduating startups pitch their digital solutions and meet with PharmStars' pharma members.
"In our experience, finding startups at the right stage of development is critical to successful partnerships," says Søren Smed Østergaard, Vice President of Novo Nordisk's Digital Health. "One of PharmStars' benefits to us is having access to a curated cohort of startups which share the same goal - to increase health benefits for people living with chronic diseases."
For PharmStars' members, partnerships are an important part of their digital health strategy.
"Through PharmStars, Takeda will have the opportunity to support and create meaningful relationships with the best and brightest digital health startups," says David Zuckerman, Digital Health Partnerships Lead at Takeda. "Partnerships like these help us advance and expand our focus in data and digital health to ultimately create value and improve the lives and health care outcomes of patients."
PharmStars' 2022 general membership is now open to pharma and biotech firms of all sizes. New members are being accepted through the program.