Pharma
The study will accumulate objective lifestyle data from around 2,000 participants.
They aim to bring down the period and costs for new drug development.
The companies said their long-term goal is to develop and offer more digital health tools "through a multi-partner ecosystem" as well as advocate for reimbursement options.
Under the deal, MedRhythms would receive a $3 million upfront payment and could earn up to $117.5 million if certain milestones are met.
The round included a strategic investment from pharma giant Gilead Sciences to expand their partnership for decentralized and hybrid trials.
The company aims to help the self-testing market grow by licensing its core technology for transforming smartphones into IVD devices.
Also: Impiricus raises a $3 million seed, and health tech VC Flare Capital Partners closes its $350 million third fund.
It initially offers medicines and other healthcare products and services from over 500 independent sellers.
The company said it will use the financing to expand in Europe and the U.S., and develop new digital therapeutics with its pharma partners.
The multiyear agreement will focus on speeding clinical trials and drug development in oncology and nonalcoholic steatohepatitis.