India Funding Insights
- Healthcare venture incubator, 2070 Health, has raised $30 million from VC fund W Health Ventures to create a platform that will build healthcare companies from scratch in India. The venture studio will use the funds to build the platform, hire more employees and enhance its tech stack.
- Health and fitness platform HealthifyMe secured $30 million in a pre-Series D funding round led by LeapFrog Investments, Khosla Ventures, Finnish development financier FinnFund, and Dutch investment firm Van Lanschot Kempen.
Global Funding Insights
- Toronto-based Twig Fertility, a fertility care platform, has recently concluded its Series A financing round, securing $8M in funding. The round was led by Rhino Ventures, a venture capital firm specializing in healthcare technology investments.
- Personalized nutrition platform AHARAhas announced its beta launch, bolstered by a $10.25M seed funding round led by Greycroft. Additional investors include Headline, SHAKTI, Dr Samuel Jampolis, Co-founder Wainwright, and Sandy Sholl.
- NEXT Life Sciences is set to revolutionize contraception with Plan A, a safe, effective, and reversible birth control method for men. To support the development and commercialization of Plan A NEXT has raised $1.55M in funding and is now kicking off its first venture-backed priced equity round.
- Swedish women’s health company Gedea Biotech has raised €1.3M (14 MSEK) to further develop its pHyph, an innovative antibiotic-free treatment for vaginal infections. Vaginal infections affect over 400 million women annually..
FemTech News:
- Thousands of women with ovarian cancer could benefit from a drug combination thought to be nearly twice as effective as the next best treatment. Scientists hope the results, presented at the world’s largest cancer conference, will lead to a new option for patients with advanced low-grade serous ovarian cancer (LGSOC), a rare form of the disease that has a poor response rate to current treatments.
- A team of Australian researchers has become the first in the world to grow tissue from every known type of endometriosis, in a move that could pave the way for new research into more effective treatments and diagnosis..
- Experts predict several advancements in the field of cancer immunotherapy in 2023. Researchers are optimistic about the advancements in cancer research and treatment in 2023, including the use of combination therapies, engineered cell therapies, cancer vaccines, precision medicine approaches, and improvements in cancer prevention and early detection efforts.
- Generative AI is projected to grow faster in health care than in any other sector. In MedTech, the technology can lead to more efficient processes, personalized customer interactions, greater innovation, and increased value.
- Most women often prioritise the health and well-being of their families over their own, leading to a lack of attention to their own health needs. This neglect may stem from a lack of awareness, societal pressure, or financial constraints, as a result, gender-specific approaches to cardiac disease are vital.
- The World Health Organization (WHO) and European Commission have announced the launch of a landmark digital health partnership. WHO will take up the EU system of digital Covid-19 certification to establish a global system that will help facilitate global mobility and protect citizens across the world from ongoing and future health threats, including pandemics.
Global News:
- Ivy Fertility has acquired the Mountain View fertility practice NOVA IVF to expand reproductive health services across California. NOVA IVF, a California-based fertility and IVF clinic led by Dr Richard Schmidt and Dr Meera Shah, provides services including treatment for unexplained infertility, male infertility, tubal infertility, endometriosis infertility, and implantation issues.
- Australia has announced that the country’s first endometriosis and pelvic pain clinics are now open across all states and territories. The 20 clinics will provide expert, multidisciplinary services and care for women with endometriosis and pelvic pain.
- The IVF provider Generation Prime has announced the launch of its first clinics in Bangkok and Kuala Lumpur, as the Asia-Pacific IVF market is expected to reach US$46b by 2031. The clinics are the first in a series of 15 roll-ups across Thailand, Malaysia, and Singapore, providing access to fertility services for Southeast Asia’s 600 million residents.
FemTech India Partner Company News:
- Shruti Chand, founder of Naarica along with an esteemed panel of speakers will be talking about how each one of us can manage our menstrual hygiene better.
- Miyara held a session with Bharat Petroleum Corporation on “Thriving through menopause and beyond”
- Sirona partnered with Blinkit on the occasion of Menstrual Hygiene Day to donate a menstrual cup to the underprivileged for every purchase of Sirona product from its app.
- Gytree has launched its first product – a specially crafted protein powder for women. It is a pure plant protein and vegan product fortified with herbs to balance hormones.
- Gytree has been onboarded by Pinklay to empower employee health. Gytree will offer professional support to help Pinklaly’s employees achieve their health goals.
- The Women’s Company collaborated with Sirohi to develop a range of corporate gifting care kits which are biodegradable and eco-friendly.
Drugs, Diagnostics, and Pharma:
- Sankara Eye Hospital, unveiled ‘Sudarshan’, a technology-enabled retinal image reading centre and the Shri V Venkata Reddy Block. Over 2.54 lakh underprivileged have been provided surgical care free of cost and 1.4 million children have been screened for eye diseases.
- Wockhardt MamaCare, Mira Road launched “MIRACLE” -a state-of-the-art neonatal intensive care unit (NICU) and paediatric intensive care unit (PICU) to address newborn and child health problems in Mira Road and its surrounding areas.
- Pristyn Care, a leading healthcare services provider, has announced the introduction of its new AI-powered trainer Mira. AI. With Mira’s arrival, Pristyn Care aims to revolutionize the training process for its care coordinators by incorporating highly engaging training modules.
- GE HealthCare, announced the US FDA clearance and launch of Sonic DL – a state-of-the-art deep learning-based technology designed to dramatically accelerate image acquisition in magnetic resonance imaging (MRI). Sonic DL enables new imaging paradigms, such as high-quality cardiac MRI in a single heartbeat. This breakthrough expands GE HealthCare’s industry-leading AI-enabled solutions portfolio.
Government News:
- More people living with obesity will have access to the newest and most effective obesity drugs to help cut NHS waiting lists, following the announcement of a £40 million two-year pilot on Wednesday, June 7. Earlier this year, the National Institute for Health and Care Excellence (NICE) recommended the use of Semaglutide (Wegovy) for adults with a Body Mass Index (BMI) of at least 35 and one weight-related health condition – such as diabetes or high blood pressure. Other drugs are currently under consideration in clinical trials..
- The Union health ministry has issued a final notification allowing the import of drugs into India through Gangavaram Port at Visakhapatnam, in Andhra Pradesh, an all-weather deep-water port owned by Adani Ports and Special Economic Zone (APSEZ). The Ministry, issued a draft amendment on March 1, 2023, to the Drugs Rules, 1945, amending Rule 43A substituting the words “and Krishnapatnam Port,” for “Krishnapatnam and Gangavaram Ports,”.
- The Karnataka Institute of Endocrinology and Research (KIER) will now have FootSecure, a phygital podiatry platform, which opened a footwear establishment which provides prescription footwear for diabetic patients. A soft launch of the venture was carried out in Bengaluru at the premises of KIER, Indiranagar. This is the first such initiative by FootSecure on government premises.
Research, Insights, and Market Projections:
- Vitamin D deficiency is more common in children with tuberculosis (TB) than those not infected by the bacterial disease, according to a study conducted in hospitalised patients in Telangana. The study, recently published in the journal Cureus, also found that a severe form of vitamin D deficiency — less than 10 nanogrammes per millilitre (ng/mL) — was higher among children with TB.
- Scientists at MIT and McMaster University have utilised artificial intelligence (AI) to identify a new antibiotic with the potential to combat drug-resistant infections caused by Acinetobacter baumannii, a bacterium commonly found in hospital settings. Acinetobacter baumannii is known to cause severe infections such as pneumonia and meningitis, and it is particularly problematic due to its ability to acquire antibiotic-resistance genes.
- Researchers have for the first time revealed the molecular structure of a protein that allows “good fat” to burn off calories, an advance that could lead to treatments for obesity and diabetes.
Jobs on Board:
- The Women’s Company is looking for a Sales Officer. The woman’s company is an initiative for women related to organic, wellness and hygiene products.
- Hera is looking for a Graphic Designer. Here is a platform to help women with their health including menstruation to menopause.
- Hera is looking for an Offline Community Manager. Hera is a platform to help women with their health including menstruation to menopause.
- Elda Health is looking for a Technical Lead. Elda Health is a digital wellness platform that offers holistic mid-life and wellness solutions for women.
