MoodSpark acquires Dthera Sciences to revitalize a unique form of Cognitive Behavioral Therapy (CBT) for seniors suffering from cognitive decline.
KANSAS CITY, Kansas, May 11, 2022 /PRNewswire/ — Telememory Holding Corp., the makers of MoodSpark, has purchased Dthera Sciences, a pioneer in the digital therapeutics industry and leader in developing innovative quality of life therapies for those suffering from cognitive decline. The deal brings a large intellectual property portfolio under the MoodSpark banner including an FDA Breakthrough device designation, several patents, a technology platform, and clinical pilot research.
Dthera Sciences developed a system for treating acute episodes of anxiety, agitation and depression in elderly patients suffering from neurodegenerative diseases including Alzheimer’s and dementia. The system delivers digital reminiscence therapy, a common behavioral intervention that involves presenting familiar pictures, music, and other materials to help patients remember past experiences. The system is designed to enable more efficient delivery of the therapy to more patients.
MoodSpark is a digital companion that detects grief and uplifts with memories, conversations and video visits from friends, family, and caregivers. This robotic assistive technology is purpose-built to provide digitally enhanced support and companion care for the elderly.
"Dthera pioneered digital therapeutics targeting geriatric CNS disorders. This deal provides us a significant amount of market validation, broadens our IP portfolio, and gets us closer to our dual-use vision for the MoodSpark digital companion," said Eliot Arnold, Co-Founder of MoodSpark. "Some of the brightest minds in digital therapeutics were behind Dthera. We are very excited to bring the combined solution to market and establish ourselves as a market leader in social assistive technology."
Digital therapeutics and robotic assistive technology are emerging fields within healthcare. The goal of these technologies is to augment care delivery, provide sensing and monitoring, and support improved clinical outcomes. According to MDC Research, the market for CNS digital therapeutics is expected to grow at a 31.6% from 2022 – 2030, driven in large part to the growing geriatric population, the deepening physician shortage and growing healthcare costs. Research suggests an urgent need for effective remote care models for seniors living in the community with neurodegenerative diseases.
MoodSpark is focused on applying this technology to the aging U.S. Veteran population, and the broader Senior Care market. The United States has the largest generation of warfighters quickly approaching or at retirement age. According to the Department of Veterans Affairs anxiety, depression, loneliness, and social isolation are increasing among senior Veterans. The United States is increasingly turning to advanced technology to not only support independent living among older veterans but to foster human connections and combat cognitive decline.
The MoodSpark digital companion:
- Uses AI to detect and act on signals of agitation, sadness, or stress.
- Provides automated check ins and digital assistance to reduce social isolation and loneliness.
- Sends alerts and notifications to family and friends.
- Provides behavior health intervention using digital reminiscence therapy.
- Shares engagement data, activity and response information with families and caregivers.
About Telememory Holding Corp — Based in Kansas City, KS., Telememory Holding Corp dba MoodSpark is a TechStars company (TS ’21) that offers digitally enhanced support and companion care for seniors. Learn more at https://www.getmoodspark.com
About Dthera Sciences — Dthera Sciences is a pioneering digital therapeutic company that developed an FDA breakthrough-designated device for the treatment of the behavioral symptoms of Alzheimer’s Disease. The San Diego based company was focused on improving the lives of seniors and individuals suffering from neurodegenerative diseases, as well as those who care for them.
SOURCE Telememory Holding Corp.