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Basel’s Lyfegen closes seed financing round

Lyfegen, an IT company specializing in healthcare from Basel, has raised 750,000 Swiss francs in a seed financing round. The startup has developed a software solution to overcome technical hurdles in value-based healthcare.

 Founding team of Lyfegen
The founding team of Lyfegen. Image credit: Lyfegen HealthTech AG

Value-based healthcare puts the spotlight on the successful treatment of patients. This involves assessing the outcome of treatment as a whole, rather than focusing on the quantity of drugs prescribed or medical appointments. In Lyfevalue, Basel startup Lyfegen has developed a platform that enables life sciences companies, national and private healthcare payers and healthcare providers to execute value-based pricing contracts. Lyfegen has now successfully closed its seed financing round, led by Swiss private investors, raising a total of 750,000 francs, it was reported in a press release.

Founded in October 2018, Lyfegen HealthTech AG will use these funds to further build its platform and conduct new pilot projects with partners in Africa, the EU and the USA. Lyfegen will therefore offer a platform that allows healthcare providers to operationalize value-based healthcare strategies, while fostering accelerated and facilitated access to innovative treatments for patients. “Enabling the shift to sustainable healthcare is a huge challenge, giving us at Lyfegen great purpose,” said Girisha Fernando, Lyfegen’s CEO & Founder.

The founders – Michel Mohler, Nico Mros, Leon Rebolledo and James Gannon, in addition to Girisha Fernando – previously worked at companies including RocheNovartis and UBS. Subsequently, they created their software solution for Lyfegen to enter a market set to grow to US$390.7 billion by 2024, according to the press release. Lyfegen is accompanied and supported on its way by BaselArea.swiss.

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