#74 đ© What the Health - Tetratherixâs IPO, Microsoftâs AI Diagnostics better than doctors (?) & $12M Gov Grants
Whats happening in health tech & innovation?
Hello, health friends. Shorter and sweeter this week, as we enter the new Financial year (yay), may have avoided World War 3 (?) and hunker down to survive the Sydney storms.
Though we know half the country is in Bali or Europe right now anyway⊠love that for you đââïžâïž
To keep us warm and motivated, though, today we welcome ~80 legends into our Cohort 5 of our What the Health Private Community đ
If thats you, see you real soon (at least on Zoom)
For the rest of yâall, onto the newsâŠ
đ© TODAYâS ISSUE
Newsworthy
Sick Science
AI Updates
Startup Stuff
Events
Cool Content
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Noteworthy đïž
đ€ AI Updates
đ§Ș Microsoft released MAI-DxO, an AI system that diagnosed patients 4x more accurately & 20% cheaper than human doctors by combining multiple frontier models
đ NHS England ordered doctors to stop using unregistered AI scribe tools, citing patient safety risks & lack of compliance with UK medical standards
đŹ Abridge raised $300M series E at a $5.3B valuation to expand its ambient AI platform that automates clinical notes across 150+ health systems & 55 specialties
đ§ Sword Health raised $40M at a $4B valuation & launched Mind, an always-on mental health solution combining AI & clinicians for continuous, personalised care
𧏠Google DeepMind released AlphaGenome, an AI model that predicts how DNA mutations affect the entire genome
𧫠Labcorp launched Whole Health Solutions, a direct-to-consumer longevity test with 1,000+ biomarkers, entering an $8B market
đ€ ~50% of Gen Z & millennials use AI fitness apps daily, but low trust and poor personalisation mean adoption is outpacing real impact
Funding
𧏠Tetratherix debuted on the ASX with a $25M IPO to fund US rollout of its bone regeneration tech
đ„ NexusMD raised $6.3M led by Square Peg to scale AI agents that cut admin time in Aussie hospitals by 30%
đ« MTPConnect gave $12.07M grants to 14 Aussie life science startups to fight heart disease & diabetes, including:
Anaxis Pharma (VIC) â$333K: Targets cell death in diabetic kidney disease
Argenica Therapeutics (WA) â $1M: Phase 2b/3 trial of ARG-007 to reduce stroke disability
Aspecthera (TAS) â $500K: Eye-drop therapy for diabetic retinopathy
Atherid Therapeutics (WA) â $750K: Scales GMP biologics for cardiovascular disease
Endo Axiom (NSW) â $1.08M: Oral insulin for type 1 diabetes
Inosi Therapeutics (VIC) â $968K: IRAP inhibitor for diabetic kidney disease
Nanomedx (NSW) â $750K: Inflammation control for peripheral arterial disease
ProGenis Pharmaceuticals (WA) â $370K: RNA therapeutic to boost insulin sensitivity
CathRx (NSW) â $1.1M: Modular catheter ablation system for atrial fibrillation
I D & E (VIC) â $1.2M: Ocular drug delivery system
Theia Medical (NSW) â $1M: 3D-printed intravascular imaging for coronary artery disease
Venstra Medical (VIC) â $1M: Mini heart pump for cardiogenic shock
Wavewise Analytics (SA) â $996K: Non-invasive real-time stroke detection tool
ZiP Diagnostics (VIC) â $1.01M: Rapid test for early preeclampsia diagnosis
đ» Five Faces raised $1M Series A backed by Qldâs Female Founders Fund to scale its patient experience tech across Aus & globally
Newsworthy
𧏠Eucalyptus relaunched menâs longevity startup Compound in the UK after overhauling its $1K/month model to focus on lifestyle, meds, & andropause
âïž Bupa was fined $35M for misleading > 4k Aussies about their hospital cover, leaving many out of pocket or without treatment they were entitled to
đž ~1M Aussies are skipping or delaying specialist care due to rising costs, with fees up 73% since 2010, says a new Grattan Institute report
đ An Aus-made insulin pill will enter human trials within months, offering a needle-free alternative for people with type 1 diabetes
đ° IFM Investors acquired 24-7 Healthcare for >$100M, delivering Myhealth founder James Liang a rumoured 8â10x return
đŒ Monash researchers developed a world-first AI device that tracks breastmilk intake in real time, to reduce breastfeeding stress
đ Lyrebird partnered with Cubiko to integrate Care Prompts into consult templates, via Best Practice Software
đ Sally-Ann Williams is stepping down as CEO of Cicada Innovations after 6 years, following major national expansions & $6.1B raised by supported startups
đŒ System C partnered with Health NZ to roll out BadgerNet nationally, unifying maternity and neonatal care & supporting the countryâs first Womenâs Health Strategy
Gov Goss
đ Aus launched Health Connect, a central app enabling real-time, secure sharing of health data across hospitals, GPs, specialists, & allied health nationwide
đ„ Labor spared health insurers from increased regulation after they voluntarily boosted hospital funding by up to $350M, but warned more support is still needed
âïž Labor warned Sonic, Healius & ACL they could face a price-fixing probe if they stop bulk-billing essential pathology tests after rebate cuts
đ WA seized 190k vapes & issued $59K in fines for illegal nang sales, as Health Minister Hammat declared the stateâs crackdown a success
US & Beyond Borders
đ MediScan AI raised $1.4M in seed funding to expand its platform that scans, summarises & searches patient records for doctors & lawyers
đ Novo Nordisk cut ties with Hims & Hers, accusing it of illegally selling compounded semaglutide, triggering a 35% plunge in Hims shares & escalating the GLP-1 access war
âïž England & Wales will decriminalise abortion after the UK lower house passed a bill removing penalties for post-24-week terminations in extreme cases
đș Gen Z alcohol use is rebounding, with participation up from 66% to 73% globally since 2023, as younger drinkers drive on-premise growth & category exploration
Sick Science
đŹ Does sugar boost your immune system?
Researchers from the Uni of Illinois Urbana-Champaign & the Uni of California, investigated how acute fructose intake affects immune responses. They administered a single dose of fructose to healthy participants & measured the subsequent immune reaction to lipoteichoic acid (LTA), a component of bacterial cell walls. The study found fructose consumption enhanced the TLR2-dependent immune response to LTA, suggesting sugar amplifies certain immune pathways.
đ§ Can a blood test predict Alzheimer's?
Researchers from the Uni of California & the Uni of Pittsburgh analysed blood biomarkers to predict Alzheimer's disease progression. They identified a panel of 10 proteins that accurately predicted clinical decline in individuals with mild cognitive impairment. This panel outperformed traditional biomarkers, such as amyloid PET scans, in predicting disease progression.
đ©ž Could ADHD increase PMDD risk?
Researchers from Queen Mary Uni of London found that women with ADHD are > 3x more likely to develop premenstrual dysphoric disorder (PMDD). The study, which analysed responses from > 700 UK women, also revealed that those with high ADHD symptoms, regardless of formal diagnosis, were more than 4x as likely to experience PMDD. The risk was highest among those with co-occurring anxiety or depression.
𧏠Could DNA 'glue' halt age-related diseases?
Researchers at Macquarie Uni discovered that the protein disulphide isomerase (PDI), typically found in the endoplasmic reticulum, can relocate to the nucleus & facilitate the repair of double-strand DNA breaks. This function is crucial, as such DNA damage is a significant contributor to aging & neurodegenerative diseases like Alzheimer's, Parkinson's, & motor neuron disease. In laboratory settings, enhancing PDI activity improved DNA repair in both human cancer cells & mouse brain cells.
Startup Stuff đ
Ready to Turn Your Clinical Idea into Reality?
The Aus Clinical Entrepreneur Program is open for applications for the 2025-26 cohort. This program offers clinicians the skills, mentorship, & networks to transform innovative ideas into real-world healthcare solutions - More here
Working on something that could help people with dementia?
CUREator+ is offering up to $5M in grant funding for projects that support people living with dementia or cognitive decline. Theyâre looking for new treatments, devices, or digital tools that can improve quality of life - More here
Got a Health Care Innovation Idea?
CSIROâs Innovate to Grow program is open for Aus SMEs looking to turn their health care ideas into R&D projects. This free 8-week course provides guidance, expert feedback, & funding pathways to bring your innovation to life - More here
Ready to Compete for $1M on a Global Stage?
The Startup World Cup is back & for the 1st time, Melb is hosting a regional final on July 22. Winners head to SF for the grand finale & a shot at the $1M investment prize - More here
Ready to Pitch on a Global Stage?
The SXSW Sydney Pitch 2025 is now open for applications. Finalists will go head-to-head in Oct, pitching ideas across AI, HealthTech, & more. Winners score global exposure, mentorship, & a trip to pitch at SXSW internationally â More here
đ§ Nominations are open for the 2025 Aus Mental Health Prize, marking its 10th year
đ NVIDIA just dropped some free AI courses
Eventsđ„
2nd July: Digital Health & Telemedicine Summit 2025 (Perth)
4th July: Regional Health Innovation Showcase 2025 (Wagga Wagga)
10th July: Crafting Your Value: From Idea to B2B Sales (Melb)
12th July: Heidi Health Hackathon 2025 (Melb)
18th July: Aus Regulatory Device Summit 2025 (Syd)
25th July: Startup Pitch & Networking (Syd)
28th July: Bio Connections Australia (Melb)
29 - 30th July: National Aged Care Provider Conference 2025 (Melb)
31st July: Healthcare x AI Agents | Hack & Learn (NYC)
5 - 7th Aug: IHACPA Conference 2025 (Adl)
9 - 13th Aug: MEDINFO2025 (Taiwan)
18 - 20th Aug: HIC 2025 (Melb)
16 - 18th Sept: Australian Public Health Conference 2025 (Wollongong)
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Stay warm friends (and send us any pics of those sunny overseas trips)!
đ Emily,
Mariah & team WTH
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Want to get featured here in front of >9500 health-loving legends?
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