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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Puretech Health PLC    PRTC   GB00BY2Z0H74

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Puretech Health : Sync Project Announces New Investors and Accelerates Development of Personalized Music Health Platform

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05/17/2017 | 08:01am CEST

Funds are being used to advance physiologically-responsive music therapies

Sync Project, Inc., a Boston-based company developing music as a personalized treatment across a range of conditions, is accelerating development of its physiologically-responsive music health platform. To date, Sync Project has raised $5 million in financing from investors Reid Hoffman, Greylock Partners (via Discovery Fund), Esther Dyson, David Shaw, Digital Garage, and PureTech Health. The company aims to validate interventions in both large-scale consumer experiments and controlled clinical studies in conditions such as stress, sleep, anxiety, and pain.

“Developing music as precision medicine requires the right mix of people and funding that bridge consumer technology, music, and biotech,” said Marko Ahtisaari, CEO and Co-founder. “Our investors, advisors, and team are just such a mix. With the support of our investors, Sync Project is accelerating the development and validation of generative music for health.”

“We are excited about the Sync Project team and how they are using artificial intelligence to create a new kind of personalized music that responds to your physiology to improve health,” said Reid Hoffman, partner at Greylock Partners.

Sync Project is building a unique data set on the biometric impact (e.g., heart rate, brain activity, and sleep patterns) of certain structural properties of music (e.g., beat, key, and timbre). Datasets generated through Sync Project’s consumer initiatives will be further validated through controlled clinical trials in individuals suffering from sleep disorders, anxiety, and pain, among others. Sync Project aims to commercialize the clinical applications of this platform and deliver a personalized, low-cost, non-invasive therapy, across a range of conditions.

Sync Project’s generative music platform is based on scientific research into the health effects of music. Recent research has shown that music can modulate neural systems like the dopamine response, autonomic nervous system, and other key pathways related to stress, movement, learning, and memory. This body of research shows that music affects some of the same neural pathways that are regulated by pharmaceuticals such as psychostimulants and suggests that music may hold significant therapeutic potential.

Earlier this year, Sync Project launched unwind.ai, the first global experiment using algorithmically-generated music to potentially improve relaxation prior to sleep. Anyone with a smartphone can participate free of charge and contribute to a global data set on how music affects stress. Designed in collaboration with critically-acclaimed musicians, Sync Project’s generative music is personalized to an individual’s unique physiology.

About Sync Project
Sync Project is developing music as precision medicine. Sync Project’s generative music platform builds on scientific research into the health effects of music with a unique data set and machine learning that analyses musical attributes (like tempo and timbre) and their impacts on biometrics (like heart rate, brain activity, and sleep patterns.) Insights from Sync Project’s consumer initiatives will be further validated through controlled clinical trials in individuals suffering from sleep disorders, anxiety, and pain, among others. Sync Project aims to commercialize the clinical applications of their platform and deliver a personalized, low-cost, non-invasive therapy, across a range of conditions. Sync Project was co-founded by Marko Ahtisaari, Yadid Ayzenberg, Ketki Karanam, and PureTech Health (LSE: PRTC; www.puretechhealth.com).

Sync Project’s advisors and Board comprise a distinguished and diverse team of science, music, health and technology experts committed to uncovering the untapped potential of music’s ability to improve health: Robert Zatorre, Ph.D., Professor of Neurology and Neurosurgery at the Montreal Neurological Institute at McGill University; Adam Gazzaley, M.D., Ph.D., Director of the Neuroscience Imaging Center and Professor of Physiology, Psychology and Psychiatry at the University of California, San Francisco; Tristan Jehan, Ph.D., Founding Chief Technology Officer of The Echo Nest (Spotify); Peter Gabriel, six-time Grammy Award-winning British singer-songwriter; Annie Clark (St. Vincent), award-winning American singer-songwriter and multi-instrumentalist; Jon Hopkins, classically trained British pianist, critically acclaimed recording artist, Ivor Novello nominated composer of film scores, and prominent producer/collaborator; Esa-Pekka Salonen, Principal Conductor and Artistic Advisor of the Philharmonia Orchestra in London and Conductor Laureate for the Los Angeles Philharmonic; and Board Members Joi Ito, Director of the Massachusetts Institute of Technology Media Lab, Marjorie Scardino, DBE, FRSA, Chairman of the MacArthur Foundation, Board member of Twitter and former CEO of Pearson, Steven Holtzman, CEO of Decibel Therapeutics, and Daphne Zohar, Co-Founder and the Chief Executive Officer of PureTech Health. For more information visit syncproject.co or connect with us on Twitter @syncprojectco.

Forward Looking Statement
This press release contains statements that are or may be forward-looking statements, including statements that relate to the company's future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks and uncertainties described in the risk factors included in the regulatory filings for PureTech Health plc. These forward-looking statements are based on assumptions regarding the present and future business strategies of the company and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law and regulatory requirements, neither the company nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.


© Business Wire 2017
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Financials ($)
Sales 2017 1,85 M
EBIT 2017 -100 M
Net income 2017 -66,8 M
Debt 2017 2,93 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 201x
EV / Sales 2018 184x
Capitalization 369 M
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Number of Analysts 5
Average target price 3,13 $
Spread / Average Target 101%
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NameTitle
Daphne Zohar Chief Executive Officer & Executive Director
Bharatt M. Chowrira President, Chief Business & Strategy Officer
Joichi Ito Non-Executive Chairman
Stephen Muniz Chief Operations Officer, Secretary & Director
Michael F. MacLean Chief Financial Officer & Executive Vice President
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