#48 š© What the Health - Bupa's New $20m Health Fund, DNA Personalised Fitness & Biotech IPOs be back?
Your health tech & innovation TL;DR roundup
Happy Monday crew!
Today Iām coming to you freshly bedazzled post T-Swift Eras Tour concert AND one hell of a genomics event with our Sydney crew last week š
Big thanks to everyone who came to š§¬š Unlocking the future of genomics in real life, the incredible panelists, and our friends The Garvan Institute of Medical Research & Side Stage Ventures for the killer collab!
In other news, today Iām stoked to welcome our newest official WTH Partnerā¦ š„³š
š So, who on earth are they?
Shadowboxer are an epic venture studio crew - who build, launch and invest in disruptive technology businesses. They partner with founders, VCs and corporate venturers who need a senior cross-functional team to turn ideas into ventures and accelerate towards product-market fit.
And why are they partnering with WTH?
In their words: At Shadowboxer we love solving big, meaningful problems and for us health is well worth our focus. It's one of the largest industries in the world and in nearly all major markets is significantly under duress.
We believe the penetration of modern tech in health is far too small for the potential impact it could have so we're thrilled to be partnering with WTH to join, support and collaborate with the community of health entrepreneurs looking to disrupt health systems for the better.
Welcome to the fold friends š š - weāre stoked to have you.
Alrighty then, onto the newsā¦
Noteworthy šļø
Funding
š° Bupa launched a $20m APAC Venture Fund to ā to "support and invest in start-ups ā¦ creating the future of healthcare"
They also plan on supposedly providing access to Bupa teams and resources to assist in expanding into the global customer base
š©āš¼ 34 female-founded businesses shared in the Boosting Female Founders Initiative, including:
Lactamo, a silicone massage ball to help with breastfeeding issues like mastitis, ($365k)
LeapForward, an AI health coach supporting people with a personal injury claim recover ($400k)
More Good Days for their fibromyalgia pain management digital platform ($396k)
Theratrak, a digital tool to support home therapy ($150k)
š§ Brandon BioCatalyst, ANDHealth and Dementia Australia, are launching a new $50m Incubator on dementia and Cognitive Decline thanks to the gov
š¬ Optiscan won a $3m grant to develop a mini AI-enabled endoscope to detect gastrointestinal cancers
š The Queensland Venture Capital Development Fund named the first five VC firms to receive a share of $130m: Antler, Salus Ventures, Five V Capital, Main Sequence Ventures, and Mandalay Venture Partners
The scheme will include a focus on the healthtech sector, with accelerator Lumina X announcing support from the fund for the next two years
š©¹ OneVentures officially returned itās first fund with 4x returns to investors. Needle-free vaccine patch Vaxxas was one of their star performers
āļø Circadian Health Innovations received an undisclosed investment from Scalare Partners
The Melb-based medtech was featured on the The Huberman Lab podcast for their wearable light pin + linked app that tells users about their sunlight exposure patterns
šŖ Startmate's Summer24 Accelerator cohort was announced ft a few health startups:
Everbility: AI-powered report writing co-pilot for allied health professionals
Graphics et al: software for quick creation of accessible health diagrams and animations i.e. Canva for medicine.
Kite Therapy: 99% cheaper early childhood autism therapy, by coaching parents to implement therapy at home
Newsworthy
š ANDHealth released a report with LEK reporting that for every $1 invested into their accelerator, $19.70 in capital is raised and $4.2 in gross economic value is delivered by digital health SMEs
š Telstra Health launched Smart Connected Care, a āecosystem of digital health solutionsā to provide a single gateway for care providers to integrate and streamline workflows in the digital health ecosystem
šļø Best Practice partnered with Lyrebird Health to integrate their AI transcription tool, hopefully helping clinicians reduce admin tasks
š Mentwell, who claim to be Australia's first health and wellness gift card startup, hit $5.8m in sales revenue within 18 weeks of launching
The founder, Nikki Williams, thought of the concept when she wanted to help a friend pay for a psych appt. With EAPs having less than 5% uptake, it could be a way to revolutionise wellness benefits for staff
š£ Allegra Medical Technologies withdrew their FDA submission for its 3D-printed spinal cage orthopaedic device after the regulator requested additional supporting info
Theyāre now looking for a buyer for all of the IP, including worldwide patents
š±All aged care workers can now access a free dementia education app, Ask Annie that provides 24/7 behaviour support planning
āYou log in, and in the snap of a finger youāve got a recommendation for how to address the situationā - Catherine Horne, GM at aged care service NoosaCare
āļø St Vincent's signed MEDITECH to implement a cloud-based Electronic Medical Record system across its 10 private hospitals
š¤° RMIT developed a rapid test for Group B Strep in expecting mothers, potentially saving 150k babies each year. The tech aims to cut detection time from 5-7 days to just 15 mins
š¦“ SDIP Innovations have developed an implant to change bone fracture treatment by stimulating regeneration and dissolving harmlessly
Gov Goss
š The Tassie Dept of Health is having a wee bit of trouble, with revelations of ambulance ramping, falsified death certificates, and Calvary pulling the pin on developing the private hospital in Launceston
Ramping: āwhen a transported patient has a prolonged wait within the vehicle on arrival at a hospital because there are no vacant care areas or beds available in the hospital's EDā
š¼ The Commonwealth Chief Allied Health Officer position is still vacant, causing concerns within the sector over the lack of strategic policy advice and liaison with the Dept of Health
US & Beyond the Borders
šŖAlter has launched a DNA personalized fitness platform - ie āa smart screen plus precision biometricsā which develops daily plans delivered via an app and a smart screen/at-home fitness mirror
While this concept isnt new, no one has yet executed well and gained strong engagement
š§āāļø Nike is launching a āWell Festā in London, a āday of movement, mindfulness and soundā that amplifies the brandās bid to become a holistic wellness company
š Novo Holdings is set to acquire drug manufacturer Catalent for US$16.5b, a deal that could expand Wegovy production by purchasing three fill-finish sites
š Amazon Healthcare is reportedly slashing over 100 jobs as part of a cost-cutting move to decrease One Medical's operating losses and save $100m in 2024
š§¬ 23andMe blamed their own users (for re-using passwords š) for their recent hack
šŖ± VC Earlybird Health raised ā¬173m for healthtech companies, reflecting increased investor interest in Europe's healthcare sector
šŖ Samsung announced a sleep apnea feature on the Galaxy Watch, the first of its kind to be authorised by the FDA
š©» Ezra, a full-body MRI startup, raised US$21m an endorsed by biohacking poster boy Bryan Johnson.
But medical experts are concerned (this, like many of its predecessors) will do more harm than good, setting up patients for overtreatment and overdiagnosis
š Biotech IPOs are making a comeback after two years of quiet:
Bladder cancer drug developer CG Oncology priced its IPO above the expected range and raised US$380m, and its shares jumped 96% on the first day of trading
Arrivent Bipharma raised US$175m and has traded up in price since its IPO
Alto Neuroscience and Fractyl Health are also planning public debuts
š Ozempic has been targeting body-positive influencers, a move thatās not being taken well by the community
āThe weight-loss industry is a multibillion-dollar industry that will go belly up if people love themselves.ā - Zach Miko, male model
š¹ Eli Lilly partner BioAge raised US$170m for potential obesity treatments
š§ Neurona Therapeutics secured a US$120m boost to advance their "off-the-shelf" cell therapies for brain diseases such as epilepsy
Sick Science
š„ Gold the gold standard for treating neurodegenerative diseases?
In a new study, patients with MS and Parkinsonās disease took a daily dose of gold nanocrystals which significantly reversed deficits of metabolites linked to energy activity in the brain and resulted in functional improvements.
š„µ Hot yoga hottest for helping your mental health?
A Harvard Medical School study suggests that doing yoga in a hot room, particularly at temps ranging from 38-40Ā°C, may help alleviate moderate to severe depression through stimulating excitatory neurotransmitters.
š Smart earrings can monitor your temp 24/7
Researchers developed wireless smart earrings that continuously monitor a userās earlobe temperature. The earrings outperformed a smartwatch at sensing skin temperature during periods of rest, showing promise for monitoring signs of stress, eating, exercise, and ovulation. With a 28-day battery life.
š§Ŗ Growing personalised tumours to help improve cancer outcomes
Researchers at the Walter and Eliza Hall Institute (WEHI) have developed a new method for predicting individual responses to bowel cancer treatment. The team used 3D cancer models known as tumour organoids, grown from a patient's own tissue, to pre-test chemotherapy drugs in a clinical feasibility trial. The study demonstrated the organoid drug testing's ability to predict treatment responses for patients with 90% accuracy.
š¤ AI Updatesā¦
šø AI has integrated into healthcare, but who should pay for it? Sometimes it seems, patients are offered the option to "upgrade" their care with AI for an extra fee
š„ OpenAI has been busy. Theyā¦
Are now valued at $80b after completing a deal led by Thrive Capital to sell existing shares in a tender offer
Developed a web search product to challenge Google
Released their newest model, Sora, can generate videos
šÆ Unlearn, an AI-enabled digital twin company nabbed US$50m in Series C funding
What is a digital twin? A comprehensive forecast of a patientās future health, based on their baseline data. This allows scientists to run ātwin studiesā with half the people
š Ambience Healthcare has raised US$70m for its AI assistant, led by OpenAI and VC firm Kleiner Perkins
š¤ Google and HCA Healthcare are the latest in partnering to develop next-gen solutions powered by AI: e.g. reducing admin for clinicians, developing diagnosis tools, and empowering patients to take control of their own health with personalised insights
Startup Stuff šĀ
Vic Medtech keen for a $50k Grant?
LaunchVicās newly launched MedTech Market Growth Program will provide $50k matched funding to up to 20 medtech startups & scaleups to help with the skills, services and resources they need to push their life-saving products to market - More info & apply here
Healthcare startup keen to enter the Aussie market?
MedTech Actuator Global Navigator Sydney is an intensive growth-stage innovation program that enables healthcare startups to enter and explore the Australian Market - Apply here
Early-stage Medtech keen to fast-track commercialisation?
The MedTech Actuator Accelerator is Asia Pacificās 9-month venture development program for early-stage MedTech, BioTech and HealthTech startups. The program will help accelerate your technology development, build your teamās capability and provide access to investment - Apply here
Startup using AI to improve healthcare and wellbeing?
Google for Startups has launched the new Growth Academy: AI for Health program, a 3-month program which will support you with essential growth skills, internationalisation strategies and Google tools & products to help you scale - Apply here
Multiple Sclerosis Researcher?
MS Australia is providing Incubator Grants of up to $25k in funding. Incubator grants provide seed funding for the early stages of innovative new research efforts, with the aim of generating preliminary data needed to support future grant applications - Apply here
Want to shape a better future for lung cancer patients?
AstraZeneca and UNSW Founders have teamed up for a 1-day rapid problem-solving event that invites big vision thinkers to come together to create solutions in the āBreath Of Fresh Airā challenge - Apply here
Hoping to accelerate your health tech venture?
The Cicada HealthTech Hub Elevate workshop is a 2-day event to learn from industry experts and develop a clear commercial strategy for your health tech innovation. It includes 4-6 hours of online learning, an in-person workshop, and 3 coaching sessions with experts - Apply here
Looking for a guide on navigating the Aus Medtech market?
Commercial Eyes Pty Ltd have developed an informative guide designed for new SMEs entering the Australian healthcare market - More here
Eventsš„
28th - 29th Feb: Google: Women in Tech Connect (Syd)
Thu 7th Mar: Virtual Healthcare Summit NSW (Syd)
Thu 7th Mar: Cicada HealthTech Hub Masterclass: How do I validate my idea through Customer Discovery?
7th - 8th Mar: Connect Virtual Care (Syd)
9th - 10th Mar: CCIM 2024 Meet Me in the Mediverse (Syd)
Wed 13th Mar: Data & Analytics in Healthcare (Mel)
20th - 21st Mar: Australian Healthcare Week 2024 (Syd)
7th - 8th May: Digital Health Festival (Mel)
Consumable Content š
šļøInvest Like the Best #360: Alex Telford - Unlocking Innovation in Pharma
š§The Heart of Healthcare with Halle Tecco: How to Get in the Room with Goliath - Veradigm GM Stuart Green
Digital health veteran Stuart Green shares all the secrets of what large incumbents want when working with startups
šŗ McKinsey published a report on Closing the womenās health gap: A $1 trillion opportunity to improve lives and economies
š¤ The Conversation: Feminist narratives are being hijacked to market medical tests not backed byĀ evidence
Women are sold tests regarding their fertility and chances of breast cancer with messaging that they ādeserve to know the truthā - but these tests have limitations
š„ The Atlantic: GoFundMe Is a Health-Care Utility Now
In the US, resorting to crowdfunding to pay medical bills has become so routine, in some cases health professionals recommend it.
š„ Partnership+: The 4-Step Menopause Partnership Guide For Men
In this video, Phil Hayes-St Clair covers the science behind menopause (did you know it is defined as just one day?), and what men can do to support the women in their life going through it
š”Got thoughts? Something to include next time?
Hit reply or reach out to emily@whatthehealth.io to let us know!
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Email us to learn about our sponsor & partner opportunities
Okie dokes folks.
Iām off to Bali and taking a 2 week break before starting something new š
Have a great week and stay tuned
š Emily,
Jas & team WTH
With thanks to our partners š
Thanks for this Newsletter. I'm very curious to know how the Alter business will evolve. I love the idea, I'm a fan of genetic testing. I just wonder if users are ready for DNA tests, when for many genetic diseases there is still no cure.