Business news from Ukraine

Farmak invests $0,5 mln in startups

8 December , 2020  

The Sector X acceleration hub based on the Unit.City innovation park (Kyiv) has reported for the nine months of work with three acceleration areas – MedTech, Logistics and BeautyTech.

The press service of Sector X said that within the framework of acceleration tracks, the partners of the hub became Farmak pharmaceutical company, the Foxtrot group of companies (Kyiv) and the Ukrainian branch of the L’Oréal Ukraine cosmetics company.

As a result, while working with the accelerator startups, Farmak signed a cooperation agreement with two startups: Bicovery startup will receive $50,000 from the pharmaceutical group and another $30,000 from the angel investors of this company, and ComeBack Mobility startup will receive the first tranche of $100,000 from the group, $30,000 from the angels of Farmak, $40,000 from the French company Undisputed Paris SAS Frédéric Delfosse and $75,000 from Dmytro and Oksana Tomchuk, as well as the team will receive another $150,000 from Farmak after KPI is completed.

Bicovery is an ecosystem with web and mobile applications that helps a person with bipolar disorder, his relatives and doctors receive more complete information about the dynamics of the disease, warnings about potential manic or depressive episodes, measure the effectiveness of medications and procedures, reduce the cost and increase the consistency of treatment, aimed at improving the quality of life of the patient and his loved ones.

Using machine learning techniques and deterministic analysis, Bicovery monitors the mental and physical condition of a person with bipolar disorder in real time.

“Bicovery cuts the cost of treating a person with bipolar disorder by 10-30%, significantly reduces the number of visits to the doctor, reduces the need for outpatient treatment and speeds up the process of selecting effective drugs for a particular patient,” the report says.

ComeBack Mobility startup has developed smart attachments for crutches to control the load in the rehabilitation of diseases and injuries of the lower extremities.

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