Mental illness has become an unavoidable social problem, leading to a vast market demand. The rise of digital therapeutics has provided a new treatment approach for mental illness.
WonderLab (Chinese: 望里科技), a mental health digital therapeutics technology platform enterprise, recently announced that it had completed a new round of financing worth about CNY 100 million (USD 14.38 million). This funding round was led by Morningside Ventures (Chinese: 晨兴创投), with participation from CSSC Capital (Chinese: 中新资本). Existing shareholders Long Hill Capital (Chinese: 长岭资本) and BioTrack Capital (Chinese: 博远资本) continued to invest. Taihecap (Chinese: 泰合资本) served as the exclusive financial advisor.
Founded in 2017, WonderLab is a digital therapeutics company focusing on mental and psychological health, with the mission to use technology to explore and understand the human brain and help people improve their mental health. It has developed a series of digital assessment and intervention treatment solutions, providing evidence-based professional products for patients with depression, insomnia, PTSD, addiction, cognitive impairment and other chronic mental disorders.
Mental and psychological problems have been increasingly severe in recent years. Digital therapeutics delivers evidence-based therapeutic interventions driven by high-quality software programs to prevent, manage, or treat a medical disorder or disease. Its rise offers a new method to optimize patient care and health outcomes for people with mental illness.
Multiple clinical studies have shown that digital therapeutics in mental health can directly improve the disease's core symptoms and be used independently or in concert with traditional therapies. In addition, it can serve patients in the hospital and people in the sub-health state outside the hospital, with broad application prospects and market potential of hundreds of billions.
Enterprises focusing on mental health digital therapeutics also include Zhaoyang Doctor (Chinese: 昭阳医生), Med-Vision (Chinese: 心景科技) and Yixinli (Chinese: 壹心理).