Amman: Hikma Pharmaceuticals PLC (‘Hikma’ or ‘Group’), the multinational pharmaceutical company, announces that its venture capital arm Hikma Ventures has led a seed financing round for O7 Therapy, a mental health service provider for Arabic speakers.
O7 Therapy is an innovative online platform that offers accessible therapy to Arabic speakers around the globe. It supports mental well-being, addresses mental disorders, and advocates for mental health and wellness for both individuals and corporations.
Participating in the round alongside Hikma Ventures are C-Ventures, Lotus Ventures, and several prominent angel investors. This is the largest announced seed financing round for a MENA based mental health startup.
We are excited to be part of a unified effort to revolutionize mental healthcare and therapy to Arabic speakers across the globe. We believe that Hikma will play an integral role in destigmatizing the topic and help in providing access to a larger number of people across the region” said Hamzeh Abdul-Hadi, Principal at Hikma Ventures. “COVID-19 has both accelerated the adoption of digital health services and tragically made them more necessary than ever, with increases in a range of mental health issues including loneliness, stress, anxiety, burnout, and beyond. O7 Therapy’s platform is well-positioned to address these problems.”
“We are happy to have Hikma join our mission to improve the lives of people. Mental health and wellness are of paramount importance,” said CEO and Co-Founder of O7 Therapy; Ashraf Bacheet. “Everyone deserves convenient and, more importantly, trustworthy access to premium mental wellness services. This is what makes us do what we do,” he added.
O7 Therapy is a refined, scientific, and evidence-based online platform, established to support clients from around the world providing pathways to mental wellness. O7 Therapy has curated a network of culturally-relevant psychiatrists and psychotherapists to support clients through the mental challenges they might be facing.
Through its advanced digital infrastructure, O7 Therapy has the capacity to connect patients with a set of ideal therapists who match each patient’s needs. The platform promptly directs clients through a journey of effectively addressing their difficulties, using evidence-based methodologies that meaningfully and powerfully enact growth towards mental wellness.
The platform ensures the security and safety of clients through trusted protocols for data encryption and storage, in a user-friendly framework.
About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable S&P and BBB-/stable Fitch)
Hikma helps put better health within reach every day for millions of people around the world. For more than 40 years, we’ve been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across the United States (US), the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people’s lives. We’re committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 8,700 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world.
About Hikma Ventures
Founded in August 2015, Hikma Ventures operates as the corporate venture capital arm of Hikma Pharmaceuticals. Hikma Ventures invests in global startups where Hikma’s expertise can accelerate revenue growth and enhance value creation by providing ventures with access to the resources of a multinational pharmaceutical company.
About O7 Therapy
O7 Therapy is a digital platform and mobile app that exists to raise the bar in mental health solutions for Arabic-speakers around the world. By providing online therapy, corporate wellness programs, and psychoeducational resources, O7 Therapy gives access to meaningful and impactful mental healthcare.
Employee Wellness Programs are offered to organizations through a unique B2B2E model, prioritizing the impact of mental health challenges in the workplace, and focusing on raising awareness and understanding, reducing stigma and shame, creating safe and supportive spaces, and implementing strategies that promote mental wellbeing.
