Founded in 2001, Proteus Biomedical is a privately held company that assists people with chronic diseases. The company develops intelligent medicine products in partnership with various pharmaceutical and biotechnology companies.

Proteus Digital Health and Otsuka Pharmaceutical have expanded their partnership on digital therapeutics. On Thursday, Proteus announced that it received $88 million from the pharma company, which will go toward the continued development and commercialization of its.

Its products serve a range of therapeutic areas, including cardiovascular, metabolic and neurological disorders. The company s Cardiac Resynchronization Therapy is a treatment for heart failure patients. It offers technological solutions to improve the cardiac performance in heart patients. Proteus Biomedical s products cater to the clinical issues of extra-cardiac stimulation and utilize Electric Tomography, which is a real-time modality for cardiac performance, and addresses the need for actionable physiologic feedback to optimize Cardiac Resynchronization Therapy and pharmacologic therapy. The company is located in Redwood City, Calif. We rule this school.

That’s all changed now.Proteus has revealed plans to eliminate 292 jobs in the Bay Area, according to a notice sent to state and local officials.The will occur in connection with the company’s plans to cease operations at its current headquarters in Redwood City as well as at two locations in Hayward, the filings with the state Employment Development Department showed.“Proteus is currently conducting an operational review and restructuring our business to optimize effectiveness,” the company said in comments emailed to this news organization. “Driving change in healthcare takes persistence and Proteus is committed to ensuring that patients get access to technologies that can significantly improve their care.”The job cuts and facilities shutdowns are slated to occur by Jan. 18, 2020, the EDD filings stated.