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Otsuka Rescues Fallen Digital Health Unicorn Proteus

Bankrupt Smart Pill Developer To Support Pharma Co's Digital Push

 
• By Ian Haydock

Japanese pharmaceutical company picks up struggling US venture for a fraction of its one-time value as it continues strategic push into the digital health space.

Unicorn
• Source: Shutterstock

Otsuka Pharmaceutical Co. Ltd.’s indirect US subsidiary Otsuka America Pharmaceutical Inc. has purchased the assets and intellectual property of distressed private US venture Proteus Digital Health, Inc. as the developer of ingestible and wearable sensor technology moves out of bankruptcy at a fire sale price.

The deal, confirmed in a brief statement from the major Japanese firm, throws a lifeline to Redwood City, CA-based Proteus, which just a few years ago was considered a digital...

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