DarioHealth (NASDAQ: DRIO), a leader in the global digital therapeutics (“DTx”) market, announced that it has entered into definitive agreements with institutional investors; those investors include Israel-based insurance companies. The registered direct offering includes the issuance of approximately 5,342,013 shares of DRIO common stock or common stock equivalents at a price of $7.49 per share. The company anticipates using the funds from the offering to increase commercial uptake of its proprietary digital health platform in the U.S. market as well as for the development of new or enhanced solutions and general corporate purposes. The offering is expected to close on or before March 3, 2022.
In addition, Dario announced that it will be collaborating with Sanofi U.S., an innovative global healthcare company, to accelerate adoption of DRIO’s digital therapeutics solutions and expand digital health solutions available through the Dario platform. Dario and Sanofi signed a multiyear, $30 million-dollar agreement to work together on efforts designed to increase DRIO’s sales reach in both the health plan market and employer channel as well as develop new or enhanced solutions leveraging the Dario platform. “We are thrilled to be chosen by Sanofi to expand into the digital health market,” said DarioHealth CEO Erez Raphael in the press release. “We believe that this is the first time that a large biopharmaceutical company and a digital health company are collaborating to commercialize digital health solutions in the U.S. market. Dario’s proven digital therapeutic solutions and innovative technologies provide the perfect complement to Sanofi’s scientific expertise, market access and scale, creating a foundation for long-term success in support of Sanofi’s goal of expanding into digital health therapies for chronic conditions.”
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About DarioHealth Corp.
DarioHealth Corp. is a leading, global digital therapeutics company revolutionizing the way people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market, covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform. Dario’s next-generation, AI-powered, digital therapeutic platform supports more than just an individual’s disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions; intuitive, clinically proven digital tools; high-quality software; and coaching to help individuals improve health and sustain meaningful outcomes. Dario’s unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results. Dario’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology, and utilizes a performance-based approach to improve its users’ health. On the path to better health, Dario makes the right thing to do the easy thing to do. For more information about the company, please visit www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
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