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Tag Archives: Phil

Phil raises $25 million to improve access to specialty drugs

| May 16, 2019

It’s no secret that medication is prohibitively expensive for a lot of people and that the problem is only getting worse. While Medicare drugs rising at 10x the rate of inflation, for every drug that saw cost go down in 2018 there were 96 drugs that saw prices go up

It gets even worse when it comes to specialty drugs, which are used to treat more complex conditions, such as rheumatoid arthritis and HIV. These drugs are only a fraction of the drugs that are dispensed, as they’re less commonly prescribed, but because of that they account for nearly half of the cost of prescription drugs. 

It was the personal experience of Deepak Thomas that led him to found Phil, a company whose mission it is to make specialty drugs more available and affordable. Thomas, who previously had Lyme disease, told me that getting access to care, and to the medication he needed, was actually worse than dealing with the disease itself. Read rest here.

Announcing our Investment in Phil

| August 24, 2017

Filling prescriptions is a pain point for countless consumers, especially for those with recurring medication needs that live outside of urban areas. Consumers experience long wait times and often leave the pharmacy empty-handed. The large chain pharmacies’ business models are predicated on having consumers wait for their prescriptions and peruse the other aisles for razors, candy, gift cards, etc. There’s a reason the pharmacy is always in the back of the store!

As was announced last week, Crosslink led Phil’s Series A investment in Phil alongside our friends at ENIAC and SoftTech. Read rest here.

Phil Accelerates Growth with National Expansion and $10M Series A Funding

| August 16, 2017

Crosslink Capital led round, advancing Phil’s disruption of traditional prescription management.

SAN FRANCISCO–(BUSINESS WIRE)–Phil Inc., an end-to-end prescription management and delivery service connecting patients with local pharmacies, announced today its national expansion following its recent $10M funding round close led by Crosslink Capital. Other investors include Eniac Ventures, Softtech VC, Forerunner Ventures, SV Angel, Silicon Valley Bank, and Transmedia Capital. Top-rated, independent pharmacies in all major states are now part of Phil’s fast-growing network, which since November 2016 has grown to cover 95 percent of the U.S. population.

Phil’s alternative to traditional pharmaceutical management aims to solve the problem of drug adherence, which drives between $100B and $300B in unnecessary medical costs in the U.S. each year. Read rest here.

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