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Funding Insights:

Global Funding:

  • Luna Daily a UK-based company has now raised $3.7M in seed funding from Redrice, Joyance Partners, Velocity Juice and angel investors to fund its US market entry. 
  • Mate Fertility has raised $4.2M of a $5M Series A it plans to close next month, and plans to close out the round through crowdfunding. Mate Fertility is on a mission to make high quality fertility treatment affordable, accessible and consistent throughout the US.
  • Danish start-up wawa fertility has raised €2.8m in funding to launch a new clinic tool and improve patient experience. Wawa supports patients undergoing fertility treatment, the company is stepping into the next phase by launching a tool that will utilise patients’ data to help clinicians make better decisions and enhance success rates.

FemTech News:

  • Funding into healthtech companies plunges 55 per cent in 2022: Tracxn  – Among Indian cities, healthtech companies in Bangalore and Mumbai have attracted the maximum investment till date ($3.1 billion each), followed by Gurgaon ($1.1 billion). Sequoia Capital, Accel and Chiratae Ventures are the top investors in HealthTech India segment till date.
  • GOQii conducted a yearlong study on women’s health among 3000 women to understand the health issues that continue to exist and remain a cause for concern today. The GOQii Women’s Health Survey 22-23 titled, ‘Live Well and Stay Healthy: Lifestyle is a Powerful Medicine’, indicates that 51 per cent of women have ongoing health issues.
  • Women were already unequal in the world of global health. The pandemic made it worse. Women health workers lost ground on equality during the pandemic, according to a new report from Women in Global Health.
  • Women in England with incurable cervical cancer are to be offered a new life-extending treatment on the NHS, officials have announced. Pembrolizumab, the first new addition to NHS treatment for incurable cervical cancer for 14 years, could mean extra months of life for those with incurable tumours.
  • Rajasthan Becomes First Indian State to Enact a Right to Health Act. The Act builds on previous actions to reduce catastrophic out-of-pocket health expenditure, as well as expand the range of health services that can be accessed by the people of Rajasthan using their Chiranjeeevi cards. 
  • Researchers have developed a new imaging tool, called electromyometrial imaging (EMMI), to create real-time, three-dimensional images and maps of contractions during labour that could help with managing labour.
  • Use of all hormonal contraceptives is associated with a small increase in the risk of breast cancer, according to a new study. The research, published in the journal PLOS Medicine, found a relative increase of 20 to 30 per cent in breast cancer risk associated with both combined and progestogen-only contraceptives, whatever the mode of delivery.
  • How might ChatGPT revolutionize healthcare? There are many potential applications of ChatGPT in healthcare, and the extent to which ChatGPT might improve healthcare may cause a profound shift in our healthcare systems. Read here for details
  • Even though preliminary acknowledgment of the benefits offered by digitalisation is high, digital adoption remains nascent in private healthcare providers, a recent report released by NATHEALTH Healthcare Federation of India noted. A recent report  said that 93 per cent of the respondents agreed that digitalisation is beneficial for the healthcare ecosystem and 80 per cent recorded using digital tools for the most common use case, i.e., to register customer data (demographic and clinical). However, only 7 per cent of the providers have adopted digitalisation across all operational use cases.
  • The psychological and financial pressures faced by the people, especially men, during the Covid pandemic has affected their sexual and reproductive health too. Nephro-urologists said cases of erectile dysfunction and impotence among men have increased and so have invasive surgeries to treat the issues.

Global Companies and News:

  • The US fertility provider Hera Fertility has launched a new financing option for couples struggling with infertility. The new financing plan, which offers 0% interest rates, would make it easier for couples to build a family during a time when challenging economic times prompt interest rates to rise.
  • The Chicago-based start-up Fillow has launched a reusable period disc to create a more sustainable and convenient period care experience. The new menstrual product comes with an applicator and combines “the ease and convenience of tampons” with the reusability and all-day-wear of period cups.
  • The breastfeeding and parenting support app Anya has been named one of 17 promising innovations to join the NHS Innovation Accelerator 2023.  Anya founder and CEO, Dr Chen Mao Davies, has been awarded an NIA fellowship that will provide the opportunity to engage with policy makers and influencers, to gain a deeper understanding of the needs, challenges and possibilities for digitally enabled care across the health and social care system.

FemTech India Partner Company News:

  • FemiSafe was featured in an episode of “Chote Sheher Bade Sapne” which is produced by CNBC-TV18. The episode covered the story of FemiSafe’s journey on working around the female hygiene and intimacy care
  • Sirona Hygiene’s team visited Nukleus Co-Working & Managed Offices to conduct an educational session on “Period Health and Menstruation Cup”
  • Gytree is organizing a series of workshops on the account of WHO’s 75th anniversary.  Some of the topics being discussed include FemTech and Global Media, Journey to personalized healthcare, among others.
  • Elda Health hosted a workshop with Rakuten India to clear the myths around normal and abnormal periods, PMS, and vaginal health. 

Drugs, Diagnostics, and Pharma:

  • Healthtech platform Redcliffe Lifetech Pvt Ltd has acquired a diagnostic lab chain that caters particularly to premium-priced health services, in a bid to expand the offerings on its existing platform, two people aware of the development told VCCircle. 
  • Practo, announced the launch of Practo Plus Health Credits as part of its Corporate Health Benefits (CHB) Programme.Practo Plus Health Credits allows corporates to offer their employees cashless outpatient department (OPD) healthcare services by adding a fixed amount to their accounts. These credits can be utilised for a range of services on Practo, including in-clinic and online doctor consultations, diagnostic services, medicine delivery, and secondary care assistance. Health Credits are accessible to employees and their families.
  • The Organisation of Pharmaceutical Producers of India (OPPI), an industry body representing the global research-based pharmaceutical industry in India, has launched an initiative, Bharat Ke Liye. This initiative encapsulates the essence of OPPI’s commitment towards enabling a healthier India through innovative solutions.
  • Granules India Limited, a vertically integrated fast growing Indian pharmaceutical company, announced that the US Food & Drug Administration (FDA) has approved its Abbreviated New Drug Application (ANDA) for gabapentin tablets USP, 600 mg and 800 mg. It is bioequivalent to the reference listed drug product (RLD), Neurontin tablets, 600 mg and 800 mg, of Viatris Specialty LLC.

Government News:

  • The National Medical Commission (NMC) has issued draft guidelines for the engagement and determination of professional fee of the counsels for stakeholders suggestions. Accordingly, the Scheme containing Terms and Conditions for the engagement of Counsels and determinations of Fees to the Counsels engaged in the NMC has been finalized with the approval of competent authority. This scheme shall be effective from the date of issue of this letter.
  • Drug regulator initiates nation-wide action, cancels license of pharma companies for manufacturing spurious drugs. Drugs Controller General’s inspection (India) (DCGI) in over 70 manufacturing units across the states has resulted in cancellation of licenses of at least 18 pharmaceutical companies for manufacturing of spurious drugs.

Research, Insights, and Market Projections:

  • Panda Health, the digital health marketplace, has released a new report that reveals hospitals are facing extensive challenges in selecting new digital health solutions. Among the challenges are reduced operational efficiencies, exacerbated staff burnout, and a continued drain on internal resources. Hospital Digital Health Technology Report 2023: The Cost of Confusion concludes that hospitals are struggling to realize the full potential of their available digital health solutions, which comes at a significant cost to their physicians, staff, and bottom line.
  • A recent study conducted by consulting firm HappyPlus has found that negative emotions, such as stress, anger, sadness, and worry, have increased among Indians post-COVID-19 pandemic. According to ‘The State of Happiness 2023’ report, 35% of the respondents stated that they have felt such emotions compared to 33% in 2022. The survey also found that positive emotions among Indians have dropped to 67% from 70% in the year-ago period. The study was conducted based on responses from 14,000 people from across 36 states and union territories.
  • Indian Institute of Technology (IIT) Mandi researchers have conducted a study to identify the most significant risk factors for cardiovascular diseases (CVDs) among adults aged 45 and above in India. CVDs are a leading cause of mortality worldwide, claiming the lives of around 17.9 million people annually. The researchers analysed data from more than 59,000 individuals aged 45 and above in both rural and urban India and arrived at the predominant risk factors of the disease.

Jobs on Board:

  • Allo Health is looking for a Channel Expansion Operations Specialist. Allo is India’s first digital health clinic for sexual wellbeing.
  • Allo Health is looking for a Content Writer, and for a Social Media Specialist (Internship). Allo is India’s first digital health clinic for sexual wellbeing.
  • Kindly looking for a content writer. Kindly is Asia’s only diagnostics-first platform for sexual care and performance health.

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