Executives at three other digital health companies said they've seen an uptick in resumes from Proteus employees in the past few weeks. ![]() ![]() But with roughly 300 people on staff, according to LinkedIn, that money may not last long. It's an ominous sign for the digital therapeutics space, which has lured major investors but has struggled to find breakout successes and has seen big drugmakers walk away from key partnerships.Īt Proteus, the furloughed employees were brought back to work in recent weeks after the company was able to land $5 million in emergency funding, according to people with knowledge of the matter. As 2019 wraps up, Proteus has become the latest Silicon Valley company that's gone from a one-time high flyer, raising a total of over $500 million, to deep in crisis mode after its partnership with a large pharmaceutical company failed to materialize in a way that could justify its valuation.
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