#53 🍩 What the Health - OpenAI Drug Development, Kardashian "Don't Die" Dinner & a $500m Life Sciences Fund
Your health tech & innovation TL;DR roundup
Happy Humpday my happy health nerds.
We’re keeping it brief this fortnight. Two things:
A huge thanks to everyone who came out for our "Not Another Digital Health Demo Night" with our friends Giant Leap, Airwallex & Shadowboxer 💜
Of course HUGE thanks to the killer presenters 📈 Vively ❤️ Cardihab 🏥 Olinqua🤰🏽 Baymatob & 🌎 Google
2. We’ve welcomed 90 newbies to the WTH Private Community Cohort 3! 🥳
Silly faces, fun and ferocious learning compulsory Welcome friends!
🍩 TODAY’S ISSUE
Newsworthy
Sick Science
AI Updates
Startup Stuff
Events
Cool Content
Let’s jump in…
Noteworthy 🗞️
Funding
🧪 Liquid Instruments, developers of reconfigurable test and measurement devices, secured $15M from Breakthrough Victoria
🩺 Harrison.ai, the AI medical imaging & diagnostic tool creators, are prepping for a +$100M Series C
💊 HealthNow, raised >$3.4M to help modernise the delivery of employee benefits via their HealthNow Mastercard
🌱 The Leaf Protein Co nabbed $850k to develop sustainable plant-based protein
🤖 Andromeda secured $3M to scale its humanoid companion robots
🌟 Remarkable, launched the scaler program to support disability, ageing, and health startups from Seed to Series A
🎉 ANDHealth+ & Medical Research Future Fund (MRFF) announced the 6 digital health companies that’ll receive a share of $3.75M over the next 16 months:
Cape Bionics - Digital scanning tech software allowing clinicians to scan patients to create personalised, medical-grade compression garments
Healthily - Conversational Voice AI to an interoperable clinical outreach and patient education platform
Navier Medical -AI-driven medical imaging software for CT scans to unlock personalised treatment options for patients with CVD enabling earlier detection through a new disease marker that is a significant predictor of heart attack
Osara Health - Digital engagement platform for those impacted by cancer that is delivered with health coaching and a smartphone app
Sydney Neuroimaging Analysis Centre - Brain imaging analysis platform utilising AI to analyse brain structures to monitor and manage neurological diseases
Touchstone Life Care - SaaS platform to create digital advanced care plans to improve end-of-life care
Newsworthy
🧬 Health Minister Mark Butler launched Ternarx, a new biotech company targeting hard-to-treat cancers with an innovative protein degrader tech
🏥 ACCC raised concerns about the proposed merger between Chemist Warehouse & Sigma Healthcare, warning it could reduce competition and increase prices
The merger would create an $8.8 billion company with over 1,000 retail stores.
🐟 NeoGenix Biosciences achieved its first pregnancy through SpermSearch AI, which reduces sperm search time by 75% compared to unassisted embryologists
🚀 LaunchVic announced the 20 recipients of the MedTech Market Growth Program, a $50k grant to bring lifesaving products to market
🔗 Personify Care & Novari Health partnered to offer an interoperable solution in Aus and NZ
🔍 Evrima introduced Evripath, a clinical trial search tool for GPs that automates access to trials behind the scenes during patient consults
🩺 Bupa launched its Connected Care strategy, integrating physical and digital care ft. a focus on mental health, type 2 diabetes, musculoskeletal health and oral and eye
Gov Goss
🚭 Aus will be the 1st country to ban vape sales outside of pharmacies, but you won't need a prescription to buy them
🤖 The Fed Gov awarded 10 grants to Aussie unis from the MRFF to harness AI in healthcare
🦠AND announced >$14M in research funding for long COVID
💊 The ACT extended Australia's 1st illicit pill testing service for 3 more years
🚑 The Australian Medical Association warns the new federal health ad campaign, urging people to call the Healthdirect hotline before the emergency department, may cause confusion and delays in care
🗺️ The Australian Digital Health Agency published the National Healthcare Identifiers Roadmap 2023-2028…
“…A strategic plan devised in collaboration with the Department of Health and Aged Care (DoHAC) and Services Australia to drive uptake of the Healthcare Identifiers Service (HI Service).”
TLDR - hopefully connect the right patient info with the right person at the point of care
US & Beyond the Borders
💍 Oura has sold >2.5 million rings and is now focusing on women's health ft. research on menopause with UC Berkeley
🤖 Google is using a new AI agent and LLM to deliver health insights combining wearable data, medical knowledge, and real-time feedback for expert-level guidance
🏋️♀️ The NHS will roll out its first AI-run physio clinic this year, offering same-day video appointments via the Flok Health app
🧬 JP Morgan Life Sciences Private Capital raised > US$500M for its inaugural biotech venture capital fund
📈 Bryan Johnson, the tech billionaire aiming to live forever, hosts "Don't Die" dinners with now even celebs promoting his anti-aging regimen
TLDR; Health just keeps on rising up the cool list
Once the Kardashians are on board you KNOW its mainstream
💸 Telix Pharmaceuticals, withdrew its $300M Nasdaq IPO plans after needing to offer heavy discounts to attract U.S. investors
👓 Apple has stopped working on its Vision Pro model headset and is focusing on a cheaper, cut-down version
🚨 Change Healthcare confirmed a ransomware attack that brought widespread disruption to the U.S. healthcare system, system shutdowns, and compromised medical records for a “substantial proportion of people in America”
🧠 Talkiatry, a US-based mental health practice, secured $130M in Series C funding to expand its value-based behavioural healthcare model
🌿 Enveda Biosciences raised $55M to combine ancient remedies with AI for drug discovery
📄 Anterior raised a $20M Series A to advance its LLM-powered co-pilot, which helps nurses and doctors save hours on gathering medical documentation
Sick Science
🍟 Junk Food Making Your Brain Sad?
A poor-quality diet can lead to depression by affecting brain function, according to researchers from the University of Reading. This study showed brain scans revealing changes in neurotransmitters and grey matter volume between those with a poor diet and those following a Mediterranean diet. Turns out, a balanced diet isn't just good for your body—it keeps your brain happy too.
🧠 More on the Mediterranean diet - Olive oil for the win
A study in JAMA Network Open found that consuming more than a teaspoon of olive oil daily significantly reduces dementia mortality risk. Replacing 5 grams of margarine or mayonnaise with olive oil was linked to an 8% to 14% lower risk. However, the study did not differentiate among various types of olive oil, which differ in their compound content.
🍆 Microplastics in Human Semen?
A recent study found microplastics in every human semen sample tested. Researchers analysed samples from 50 volunteers, detecting tiny plastic particles that raise concerns about potential fertility risks.
🧪 Can Glowing Dye Help Detect Cancer?
Scientists at the University of Oxford, in collaboration with ImaginAb Inc, developed a glowing dye that sticks to cancer cells, giving surgeons a "second pair of eyes." In a study on mice, the dye illuminated tumors, making them easier to identify during surgery.
😴 Sleep Loss Disrupts Memory Formation
A study published in Nature found that sleep deprivation disrupts memory by weakening a key brain signal in rats. Researchers observed that sleep-deprived rats had less organized sharp-wave ripples in the hippocampus, crucial for long-term memory storage. Even after recovery sleep, the signal never fully bounced back. So, get those zzz's!
🤖 AI Updates…
🧪 Formation Bio, a startup applying AI to drug development with backing from Sam Altman, raised US$372M
They also have announced collaborations with OpenAI, Sanofi & boast a stellar lineup of backers
🧬 EvolutionaryScale came out of stealth, ft US$142M to build AI models that can generate novel proteins for scientific research backed by Amazon & NVIDIA
🚀 Tempus AI, a precision medical company, soared with a $410M IPO, with shares leaping 15% in its Nasdaq debut
🧬 OpenAI partnered with Color Health to launch Copilot, an AI tool that assists doctors in making evidence-based decisions for cancer screening and treatment
Side note, it feels like OpenAI has been partnering with every man and his dog recently. Here’s a non-exhaustive list of their recent partnerships.
🩺 Microsoft's DAX Copilot won the AI Tech Sprint for reducing clinician burnout by automating clinical documentation and improving workflow efficiency
☁️ Salesforce launched an AI-powered Life Sciences Cloud to help pharma and medtech companies streamline operations
🔍 King’s College London launched Foresight AI, a predictive analytics tool that forecasts patients' future health conditions by analysing NHS health records
🤖 Cognizant and Google Cloud launched healthcare LLM solutions using Google's gen AI technology
🧠 Marigold Health secured $11M in Series A funding for AI-enabled peer support platform for mental health and substance use disorders
💻 Nvidia has officially become THE most valuable public company surpassing Microsoft as the most valuable public company
Startup Stuff 🚀
Want to join the Google for Startups AI First Accelerator?
This 10-week, equity-free program is for Seed and Series A stage Aussie startups building AI and ML-driven platforms and products. Expect: mentorship, technical guidance, founder’s network and workshops - More info & Apply here
Want to strut your Startup on stage at SXSW?
Apply for the SXSW Sydney Pitch 2024! This year's winner will again receive the opportunity to pitch at the Winner Ceremony at SXSW Austin 2025 (ft. free flights, badges and a host of other prizes) - More info & Apply here
Got an early-stage venture?
The 77 Venture Challenge offers a 12-week, equity-free program for ventures aiming to raise pre-seed, seed, or pre-Series A capital. Enjoy feedback and transparency from the 77 Partners team, with a chance to secure a $100,000 investment. - More info & Apply here
Have an idea for Dementia & Cognitive Decline?
The CUREator+ Dementia and Cognitive Decline incubator program, in partnership with Brandon BioCatalyst, ANDHealth, and Dementia Australia, is now open for funding applications! Companies can receive up to $5m per project - More here
Want to showcase your Startup & get free hardware?
Applications for "The Pitch," hosted by SmartCompany in partnership with Dell Technologies and Dell For Startups, are now open where you could nab $10k in hardware and a great mentoring program - More here
Want to run Clinical Trial in Aus?
The Department of Health & Aged Care opened funding for $12.6m to support international clinical trials in Australia and evidence-based healthcare. Not to mention, our R&D tax credits are pretty great too…
Events💥
Tue 2nd July: Foundations: Pitching 101 (online)
Thu 4th July: Tackling the Talent Crisis: A Strategic Lunch for Healthcare Leaders (Syd)
Tue 14th July: ANDHealth - Building Trust in Digital Health: Cyber, Risk, & AI (Melb)
Tue 23rd July: Digital Transformation in Aged and Social Care (Melb)
Fri 26th July: Digital Transformation in Aged and Social Care (Syd)
Thu 1st Aug: HealthTech Forum, Driving Patient-Centred Innovation (Syd)
Wed 7th Aug: Cicada x Tech23 (Syd)
Thu 22nd Aug: ANDHealth - Building Trust in Digital Health: Cyber, Risk, & AI (Melb)
Fri 4th Sept: Women's Health & Wellbeing Summit (Syd)
Consumable Content 💎
🎙️Huberman Lab: Dr. Zachary Knight: The Science of Hunger & Medications to Combat Obesity
🌶️ The Startup Podcast: Hot Takes with Tim Doyle
Eucalyptus founder Tim Doyle discusses marketing as an art versus science, advocating for strong brand narratives, and emphasizes why venture-backed startups should focus on long-term growth over short-term profitability.
🧠 The Hemingway Report: What’s happened with Headspace since their merge with Ginger in 2021?
📚MTPConnect’s report 'Australia’s Clinical Trials Sector - Advancing innovative healthcare and powering economic growth’ was released showing that Aus’s clinical trials sector generated $1.6 billion for the economy in 2022, 4% growth on 2019 despite the 2020 pandemic downturn
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👋 Emily,
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