Funding Insights:
- PadCare Labs, a Pune-based start-up for sustainable sanitary waste processing and recycling, has closed on a Rs 5 crore seed funding round led by Social Alpha.
- Motilal Oswal Alternate Investment Advisors on Tuesday said it has bought a minority stake in Rajkot-based Pan Healthcare for Rs 400 crore. Pan Health sells baby diapers under Little Angel brand, adult incontinence products under Liberty brand, and sanitary napkins and feminine hygiene products under Everteen brand.
Global Funding:
- Newel Health, an Italy-based digital health company, has received a $2.7M grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF)
- HBM Alpha Therapeutics has raised a seed round to advance its novel antibody therapies to treat congenital adrenal hyperplasia (CAH) and PCOS
- Mica AI Medical, an Israeli company offering technology for early breast cancer detection and diagnosis on contrast enhanced mammograms, has raised $3M in funding.
FemTech News:
- India’s first sex education survey conducted by Allo Health states that 78% of people lack most basic knowledge about sex there is a growing demand for sex education among the young as it is an important tool to learn about a broad range of topics related to biological, socio-cultural, and psychological perspectives.
- Tata 1mg, India’s trusted digital health platform, has launched a comprehensive online cancer care platform that aims to be a one-stop destination for people diagnosed with cancer.
- A recent study by the Indian Council of Medical Research (ICMR) highlights a concerning statistic – one in nine Indians will develop cancer at some point in their lives.
- Karkinos Healthcare and Vinayaka Mission’s Group launches oncology institute in Puducherry
- Online medical consultations in tier 2 & 3 cities grew by 87 per cent in 2022: Healthscape
- Studies show that one in five adults will experience a behavioral health disorder yearly. The number is almost certainly higher in rural areas. Anxiety and depression rates among adults reached 42% during the pandemic, according to data secured by the National Center for Health Statistics in partnership with the U.S. Census Bureau.
- The inclusion of sugar in their diet and early interruption of breastfeeding to be the main factors that contribute to the appearance of dental caries by age 2.
5 Key Trends in Women’s Health Technology for 2023 to Watch:
- AI and Machine Learning
- Employee Wellness: Wellness Programs as Integral Workplace Components
- Positive Menopause
- At- Home Hospital and Remote Patient Monitoring
- Attention-Gathering Startups Focusing on Breast Cancer Funding
FemTech India Partner Company News:
- FemTech Focus announced its latest awardees of First In FemTech category. The award recognized individuals who demonstrated significant contribution to women’s health innovation awardee Navneet Kaur – FemTech India, Susan Solinsky – Ellipsis Health, Jiwon Park- SAIB & Co, Francesca Geary- Slingl.
- Allo Health’s specialists – Dr Sandip Deshpande and Kanusha interacted with the students at Christ University, Bengaluru and covered topics on career growth and opportunities available for psychology students.
- Newmi Care’s team consisting of Sanchit Agarwal, Vasundhara Tapliyal, Purnima Goswami, and Aditi Mittal participated in the ETHRworld event which covered discussions and topics related to innovation and disruption in workplace care.
Drugs, Diagnostics, and Pharma:
- University of Wisconsin (UW)-Madison Global Health Institute (GHI) and the Ella Foundation signed a bilateral agreement to establish the ‘UW-Madison One Health Center’ in Bangalore, India. The Center is expected to be operational by end of 2023
- Dr Reddy’s Laboratories has announced major recognitions in gender equality and sustainability. Dr Reddy’s has been included in the Bloomberg Gender-Equality Index (GEI) 2023 for a sixth consecutive year, featuring as the only Indian pharma company
- Lupin has received approval from the United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application for Glycopyrrolate Injection USP, a generic equivalent of Robinul Injection, 0.2 mg/mL of Hikma Pharmaceuticals. The product marks the first approval from Lupin’s new injectable facility in Nagpur, India.
Government News:
- The recent trade agreements signed by India along with various other initiatives taken by the Centre has given wider market access for Indian pharmaceutical products and medical devices.
- The Central government is in the process of finalising the cabinet note on its Policy to catalyse R&D and innovation in the pharma med-tech sector in line with the budget announcement for the year 2022-23.
- The government’s share in the total health expenditure has increased from 28.6 per cent in financial year 2014 to 40.6 per cent in 2019 with a significant decline in out-of-pocket expenditure, according to the Economic Survey 2022-23.
- The contact tracing feature of the Aarogya Setu app has been disabled and the contact tracing data collected through the app has been deleted, the Minister of State for Electronics and Information Technology said.
Market Insights and Projections:
- After a year of record performance during the year 2021 in Private Equity/Venture Capital (PE/VC) investments into the healthcare and related companies in India, the year 2022 has reported a decline of 7.74 per cent in value terms compared to the previous year. The number of deals declined by 21.7 per cent during the comparable period, though being the second highest number of deals in five years.
- From 2023 to 2033, the market for orthopaedic devices is anticipated to grow at a CAGR of 4%. The market is currently estimated to be worth US$ 45 billion, and by the end of 2033, it is predicted to be worth US$ 67 billion.
- ChatGPT provided “largely appropriate” responses to questions about cardiovascular disease prevention. Researchers put together 25 questions about fundamental concepts for preventing heart disease, including risk factor counseling, test results and medication information. They posed the questions to the AI chatbot three times and each set of responses was graded by a clinician.
- Artificial intelligence (AI) technology has been developed by engineers at the University of Waterloo to determine whether chemotherapy before surgery would be beneficial for people with breast cancer.
Jobs on Board:
- Allo Health is looking for a Content Writer (Intern). Allo is a digital health clinic which has launched India’s first sexual wellbeing program.
- Kindly is looking for a Backend Developer. Kindly is Asia’s only diagnostics-first platform for sexual care and performance health
- Newmi is looking for a Corporate Sales Manager (B2B Sales). Newmi is a Digital Health and Commerce platform and India’s first product’s and services ecosystem for women.
- PeeSafe is looking for onsite-full-time interns. PeeSafe is behind “The Toilet Seat Sanitizer Spray”.
