Indian Funding:
- Nesa Medtech, a renowned deeptech medical device startup, announced the successful closure of an undisclosed amount in their Pre-Series A round of funding.
- Sugar.fit, a healthtech startup aiming to manage and reverse Type 2 and pre-diabetes, has raised $11 million in a Series A funding round led by MassMutual Ventures, with participation from existing investors, including Cure.fit, Tanglin Venture Partners, and Endiya Partners.
Global Funding and Grants:
- Sofinnova Partners, a European venture capital firm with bases in Paris, London, and Milan, has announced the closing of its “Sofinnova Digital Medicine I” fund, for early-stage digital medicine investments.
- Signos, a comprehensive metabolic health platform that provides real-time data and recommendations for healthy weight management, announced $20 million in Series B funding to respond to the obesity and metabolic health crisis.
FemTech News:
- The use of menstrual cups may result in fewer infections and improved vaginal health, a new trial has found. The research provided evidence that the menstrual cup may provide beneficial results to menstruators’ health and could be an acceptable and long-lasting solution to manage menstruation.
- Research revealed a significant association between frequent mobile phone use and lower sperm concentration. Notably, the median sperm concentration was higher in men who used their phones no more than once a week (56.5 million/mL) compared to those who used their phones over 20 times a day (44.5 million/mL). This translates to a 21% decrease in sperm concentration for individuals classified as frequent users.
- A new survey has shown that people are turning away from IVF to seek alternative fertility treatments. The research surveyed over 4,000 UK adults who are currently trying or struggling to conceive and are open to exploring new treatment options.
- The UK government has announced two law changes to IVF provision, in an effort to help same-sex couples and people with HIV conceive. The government aims to scrap this law, allowing female same-sex couples to have the same rights as heterosexual couples when trying to conceive.
- An updated toolkit that guides health professionals in treating menopause health issues has been published in an effort to improve care for women globally. Endorsed by the International, Australasian and British Menopause Societies, the Endocrine Society of Australia and Jean Hailes for Women’s Health, the 2023 practitioner’s toolkit for managing the menopause is designed to be used anywhere in the world.
- Molbio Diagnostics, a pioneering in-vitro diagnostics (IVD) unicorn with a global footprint spread across over 70 countries through its Truenat platform, announced the launch of a strong collaboration with Niramai Health Analytix, a Bengaluru-based deep-tech startup, a FemTech India partner company. This partnership aims to accelerate the adoption of Niramai’s innovative AI-based non-invasive breast cancer screening solution in developing countries around the world.
- According to recent studies, the telemedicine industry in the country is expected to experience significant expansion from now until 2025, with a projected compound annual growth rate of 31 percent. This growth is anticipated to generate approximately $5.5 billion in revenue.
- Health Canada, the department of the Canadian government responsible for national health policy, has approved the drug Myfembree for the management of endometriosis. Health Canada has also approved the same drug for the management of heavy menstrual bleeding associated with uterine fibroids in premenopausal women.
FemTech India Partner Company News:
- PeeSafe was included in the list of select 200 companies at Forbes India – DGEMS 2023 for its contribution towards innovation from puberty to menopause.
- HempStreet, along with Divya Ayurveda Hospital is organizing a free medical camp at Rajasthan between 28th October – 05 November, 2023.
- Gynoveda opened its physical Fertility clinic in Mumbai in October. The clinic is considered to be India’s first evidence-backed Ayurvedic Fertility Clinic.
- Newmi is a part of the second cohort of the startups selected for the Yash Entrepreneurs Program powered by the Office of the Office of the Principal Scientific Adviser to the Govt of India.
- FemVed is hosting a session on “Sound Healing: An Enabler of Mental Wellness” being handled by Shilpi Das Chohan, a certified Sound Healing Practitioner.
Global Companies:
- Ardo Bellis has launched its first rechargeable breast pump. The Ardo Bellis breast pump is efficient, safe, and simple to use. It can be shared between mums due to the closed system technology, protecting the breastmilk and the pump from contamination, making it the perfect pump to rent.
- HealthPlus Fertility, a prominent fertility clinic network in the United Arab Emirates, is proud to announce its strategic partnership with Future Fertility, the global leader in clinically validated AI-powered fertility solutions.
- The US maternity clinic Oula has announced a third clinic, expanding its partnership with Mount Sinai Health System.The expansion will include a third clinic set to open in 2024, expanded clinical services, additional service lines, and a deeper clinical and financial integration between Oula and Mount Sinai.
- LactApp, a Barcelona-based startup known for its mobile breastfeeding apps, has expanded its footprint by opening the first in-person lactation care clinic in the city
Drugs, Diagnostics, and Pharma:
- Sterling Accuris Diagnostics has inked a strategic alliance with Ahmedabad-based VPL Diagnostic, a provider of specialty allergy testing services. The latter is a specialized ImmunoCAP & ELISA allergy testing laboratory.
- lobal pharma major Lupin Limited (Lupin) announced that it has received tentative approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application for selexipag for injection, 1800 mcg/vial, single-dose vial, to market a generic equivalent of Uptravi for injection, 1800 mcg/vial, of Actelion Pharmaceuticals US, Inc
- Basilea Pharmaceutica Ltd, Allschwil, a commercial-stage biopharmaceutical company, committed to meeting the needs of patients with severe bacterial and fungal infections, announced that it has entered into an exclusive evaluation license and option agreement for tonabacase, with iNtRON Biotechnology, Inc., a company based in the Republic of Korea
Government News:
- The Indian Council of Medical Research (ICMR)-National Institute of Pathology, New Delhi has launched the Diagnostic Services in Healthcare (DISHA) portal to help the public in accessing nearest diagnostic healthcare facilities towards ensuring early detection and proactive management.
- The National Pharmaceutical Pricing Authority (NPPA) has notified revised ceiling price of 438 scheduled formulations in order to rectify an anomaly that took place while calculating the revised prices based on the Wholesale Price Index (WPI) increase of 12.1218 per cent.
- The Comptroller and Auditor General of India (CAG) 2023 Report on public health infrastructure and management of health services in Kerala has made startling revelations on the shortage of pharmacists, doctors, paramedics, ASHA workers, quality issues in medicines and expired drugs, among others.
Research, Insights, and Market Projections:
- The study, based on data and research gathered by BCG in partnership with B Capital, shows that India’s healthcare industry is expected to grow from US$ 167 billion in 2022 to US$ 458 billion in 2030. A key barometer to measure development and growth in economies has been the move towards higher spending per gross domestic product (GDP) on healthcare. In the context of India, this trend has been moving upward in recent years but still lags behind other large economies.
- Researchers from the University of Granada have identified the optimal number of steps needed per day to significantly reduce the risk of premature death. Contrary to the popular belief of aiming for 10,000 steps, the study reveals that most of the benefits can be achieved by walking around 7,000 steps daily.
- Researchers have developed a simple blood test that in combination with an online psychiatric assessment provides an improved diagnosis of bipolar disorder. The team at the University of Cambridge in the UK found that the blood test on its own could diagnose up to 30 per cent of patients with bipolar disorder, but it was even more effective when combined with a digital mental health assessment.
Jobs on Board:
- iMumz is looking for a Head – Engineering. iMumz is a platform for Indian pregnant women.
- Rocket Health is looking for a Customer Success Associate. Rocket Health is a platform which provides healthcare for mental and sexual health.
- PeeSafe is looking for an E-Commerce Associate. PeeSafe is a wellness and fitness services company which is behind iconic products such as The Toilet Seat Sanitizer Spray.
