#57 🍩 Kismet's $20M to Expand, Genetic Test Discrimination Ban, and WEHI's $66M VC fund
#57 🍩 Kismet's $20M to Expand, Genetic Test Discrimination Ban, and WEHI's $66M VC fund
Your health tech & innovation TL;DR roundup
Welcome back, friends.
I don’t know about you, I often believe that being just slightly delusional is the solution with the crazy state of global affairs (hello - delulu is the solulu).
If only this funny little tidbit was actually true…
Anyway, right now I’m heading to the promenade in Bondi for a WTHer coffee catch up (cute).
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Ok, here’s some fresh Friday Health news updates for you
🍩 TODAY’S ISSUE
Newsworthy
Sick Science
AI Updates
Startup Stuff
Events
Cool Content
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Noteworthy 🗞️
Funding
💜 Kismet nabbed another $20m for their NDIS & Disability Community Platform reducing carer’s admin and creating better services to expand internationally
🚀 MTPConnect launched a $28.5M accelerator with CSL & Roche targeting heart disease & diabetes
💡 WEHI’s $66M VC fund, 66ten was to bridge the gap between science & commercial healthcare solutions
🧬 CUREator added $1.87M top-up funding to 4 biotech companies ft. rapid antibiotic testing & therapies for CNS conditions
💉 The Vic Gov is putting $2.1M in 15 research teams for mRNA vaccines and treatments for HIV, liver disease, & cancer
📱 Equ, a calorie tracking & nutrition app, snagged funds from Artesian’s Female Leaders Fund to launch a new protein powder line
🦾 Evolution Surgical, a medtech specialising in spinal implants bagged an undisclosed amount from the Quadrant Growth Fund
👩⚕️ RACGP gave $660k grants to 58 GP researchers across Aus, funding projects on diabetes, ADHD, family violence, & more
Newsworthy
🎉Aus officially banned life insurers from using genetic tests to descriminate, deny coverage or raise premiums, promoting access without financial discrimination
🧠 Neurode, a Sydney startup, is building a wearable headband to treat & track ADHD with electrical stimulation, providing an alternative to traditional meds
🧬 RNA Australia, a joint initiative with NSW and unis said g’day to the world - with the aims to accelerate RNA R&D, commercialisation, & accessibility in Aus
🩻 Harrison.ai launched Harrison.rad.1, a radiology AI model outperforming models from OpenAI, Microsoft, Google, & Anthropic to detect findings & generate reports
🏋️♂️ Fitness First launched it’s $8M Melb recovery flagship "Revive", a 250-square-meter recovery zone ft. saunas, cold therapy, & compression boots
💊 The TGA confirmed a PrEP shortage in Aus, delaying access toHIV prevention medication
🏥 BCG released a report on the recovery outlook for private hospitals
TL;DR; Private hospitals in Aus face stagnant patient volumes & rising costs, with profits at 15-year lows.
Key takeaways:
+1M Aussies have private health insurance compared to pre-pandemic
Workforce shortages & salary increases drive up costs
Public system can't meet growing demand, increasing private sector reliance
Private hospital admissions grew 4% in FY24
💻 HammondCare did a dive on how it’s digitising it’s Aged & Dementia care services with Salesforce & AI to enhance personalised care & support for staff
Gov Goss
📱 Aus plans to ban children <14 or 16 from social media, but age verification tech & privacy may complicate enforcement
💊 NSW is expanding pharmacy services to treat conditions like ear infections & muscle pain to reduce GP wait times & pressure on EDs
🚺 A Vic inquiry into women’s pain revealed sexism & delays in care for women & girls with conditions like endometriosis & migraines
“My period was super random for a few years and then went fully MIA for 4 months. My male doctor told me that was normal, even sharing a story about a time his wife missed her period for 3 months but it eventually came back.
Went to a female doctor and asked her to run tests and it was PCOS”
🏢 The Gov is seeking more external advisors for its $392M Industry Growth Program due to demand from startups in medical science, renewables, & regional areas
🩺 Aus Digital Health Agency launched an Allied Health Industry Tender Offer to increase CIS compliance with My Health Record & e-prescribing
💻 Commonwealth Aged care home staff are eligible for a new telehealth training program to improve care & reduce unnecessary hospital trips
🦷 The Aus Dental Association warns there aren't enough dentists or funds to provide Medicare dental care for Aussies, suggesting targeted services instead
US & Beyond the Borders
🏥 Spotify CEO Daniel Ek’s, Neko Health launched their full-body scan clinic in London, offering 10-min scans for £299 ft. 70 sensors to collect 50M data points for personal health insights
🚫 The UK will ban unhealthy food & drink ads online & on TV before 9 pm to protect kids from harmful marketing
💍 Oura, smart ring makers are expanding into metabolic health, acquiring Finnish CGM platform Veri, aiming to integrate it into the Oura App experience
💊 Pfizer launched PfizerForAll, a digital platform with telehealth, prescription deliveries, & vaccine appointments in the US
📉 PharmEasy, an Indian online pharmacy startup, once valued at $5.6B, is now down 92% to $458M, as debt repayments & fundraising struggles impact its valuation
🧘♂️ Calm launched "Taptivities", a mindfulness alternative to social media wirh stories & visualisations to promote gratitude, self-reflection, & breathwork in <2 mins
📱 The WHO review of 5k studies found no link between phone use & brain cancer, confirming that increased wireless tech usage hasn't led to a rise in cancer rates
🧠 FinalSpark is offering remote access to human brain organoid bioprocessors for just $500/month
🏥 Doccla, a ‘hospital at home’ startup, raised $46M to expand its virtual bed tech across Europe, allowing doctors to monitor patients & reduce hospital strain remotely
Sick Science
🤔 Is the BMI Finally getting the boot?
A study in JAMA Network Open suggests the Body Roundness Index (BRI) better measures health risks like cancer & heart disease than Body Mass Index (BMI). Researchers analysed data from 33k Americans (1999–2018) & found higher BRI scores linked to higher mortality risks, and a more accurate assessment than BMI.
🧬 Prebiotics Boost Your Brain, Not Your Biceps?
A King's College London study found prebiotics improve cognition but not muscle strength. Of 72 older adults, participants showed no difference in physical performance, but cognitive improvements, especially in memory, were notable.
💊 Weight loss drugs = Aging Less?
Scientists suggest semaglutide, in Ozempic & Wegovy, may slow aging. Studies from the European Society of Cardiology show it reduces cardiovascular risks & lowers death rates from all causes. In a trial of 17k people, those on semaglutide were less likely to die from infections, suggesting benefits beyond weight loss.
🐟 Antidepressants have side effects on… fish too?
A Monash University study showed long-term exposure to the antidepressant fluoxetine is altering fish behavior, reducing sperm speed, & disrupting key traits needed for survival. Highlighting the serious impact pharmaceutical pollution has on aquatic ecosystems.
💉 A Lung Cancer Vaccine?
Doctors are testing the first mRNA lung cancer vaccine targeting non-small cell lung cancer (NSCLC). BioNTech’s BNT116 uses mRNA to train the immune system to recognise & destroy tumour-specific markers, leaving healthy cells intact.
🧠 New Tech Helps ALS Patients Speak Again
UC Davis researchers developed a brain-computer interface (BCI) that translates brain signals into speech with 97% accuracy. Using microelectrode arrays, the BCI converts brain activity into real-time speech. Tested on an ALS patient, it achieved 99.6% accuracy in 30 mins.
🤖 AI Updates
🧬 AlphaProteo, an AI system by Google DeepMind, designs novel proteins that bind to target molecules, advancing drug design, disease research, & biosensors with improved protein binder creation & success rates
🍵 Chai Discovery, an OpenAI-backed drug discovery startup, raised $30M & launched Chai-1, an AI model for molecular structure prediction
Startup Stuff 🚀
Building in Mental Health?
Johnson & Johnson's Amplifying Access to Mental Health Innovation QuickFire Challenge offers up to $300K in funding, mentorship, and global JLABS access for innovative solutions in mental healthcare - More here
Want to join a national Development & Commercialisation Summit?
AusBiotech and MTPConnect are hosting Australia's first National Biotech and Medtech Development Summit on 19 November 2024 in Canberra, focusing on advancing medical R&D strategies and biotech innovation. Senior industry leaders and experts will explore opportunities to drive commercialisation and future-proof access to innovation - More here
Ready to lead with confidence?
Ladymates Leadership, ANZ’s first mentor-driven community for women in leadership, offers executive coaching, peer mentorship, & workshops - Apply here
Qld female founder ready to scale up?
The Accelerating Female Founders Program offers subsidised business development programs for Qld-based female founders or leaders - More here
In NSW & need funding for your MVP?
The MVP Ventures Program offers grants from $25k to $50k for innovative startups in NSW to commercialise new products - More here
Ready to turn your research into reality?
Aus's Economic Accelerator (AEA) grants offers $180m for university researchers & industry partners to commercialise research in priority areas, with grants up to $500k for early-stage & up to $5M for mid-stage projects - More here
Events💥
24th Sept: Collaborating with Health - Data-driven Insights for the Victorian Medtech Ecosystem (Melb)
24th - 25th Sept: Deep Tech Elevate (Syd)
9th Oct: Startup Legal Essentials - Getting Your Business Off the Ground (Syd)
9th Oct: BioSymposium – Innovating Antibody-Drug Conjugates: From Mechanisms to Market (Melb)
17th Oct: The Diverse Digital Health Workforce (Melb & online)
23rd Oct: The Power of Branding - Building and Protecting Your Brand with IP Aus (Syd)
23rd - 24th Oct: MTAA MedTech Conference (Syd)
21 Nov: BioMelbourne Network Annual General Meeting & Networking Event (Melb)
Consumable Content 💎
📖 The Medical Futurist: 10 Technologies That Will Vanish From Healthcare By 2050.
From pagers to physical pharmacies, the report discusses which tools & processes will be phased out as healthcare shifts towards digital solutions, automation, & AI
📊 Eucalyptus did a breakdown of the Aus Healthcare Index Report, revealing:
55% rely on GPs for advice, 20% use Google
Healthcare satisfaction average: 7/10
49% visit GPs less due to rising costs
40% had telehealth in six months, with 82% satisfaction
Top challenges: costs, wait times, worker shortages
![Meme] “But Dr. Google says...” : r/ems](https://substackcdn.com/image/fetch/f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fae6092e7-8067-41b8-afb7-f37f12f98f0d_259x195.jpeg "Meme] “But Dr. Google says...” : r/ems")
📚 Andreessen Horowitz: Consumers as a New Class of Payor
With out-of-pocket healthcare expenditures reaching $471B, opportunities arise to create solutions for consumers managing their healthcare purchases, including health insurance shopping, financing products, & cash-pay services.
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