Global Funding and Grants:
- Berlin-based femtech startup Frieda Health has secured EUR 2.5 million in pre-seed funding from the Maximon Longevity Co-Investment Fund, an investor and company builder specializing in the longevity sector.
- The AI software development company Lunit has secured US$150m in capital increase to advance its cancer screening technology. Lunit is a South Korean public company that develops medical AI software to help detect early-stage cancer and “optimise” cancer treatment.
- The US venture capital firm Black Opal Ventures has announced its inaugural health tech fund, raising US$58m to date. The firm says it will use the capital infusion to empower innovative early-stage companies “at the intersection of healthcare and technology”, heralding what it describes as a new era of transformation in the healthcare industry.
FemTech Companies:
- The US mental health start-up UpLift has announced it acquired the women-focused online psychiatry practice Minded. UpLift’s behavioural health platform offers patients access to in-network therapists and mental health providers virtually or in person.
- Clue, a period tracking and reproductive health app and smart ring technology company ŌURA have announced a new integration. This partnership combines Clue’s menstrual health tracking with ŌURA’s biometric sensing capabilities, aiming to enhance personal health management and research in female health.
FemTech News:
- More than two-thirds of women in the UK have a negative experience at work because of their menstrual symptoms, a new survey has shown. The most common symptoms reported include abdominal cramps (60 percent), irritability (52 per cent), fatigue (49 per cent) and bloating (49 per cent). Of those who experienced symptoms, three-fifths said they had worked when they did not feel well enough to do so and one in five took sick leave.
- NHS Scotland has introduced new measures to support women experiencing menopause or menstrual health symptoms across its workforce. The new policy aims to create an environment where women feel confident in raising health issues so solutions can be put in place.
- In 2024, Generative AI will make its way into wearables to provide for highly bespoke and personalized experiences to users while enabling greater progress in genome research. Patients will become the epicenter of the healthcare ecosystem with DNA based treatments to facilitate greater care equity and personalization.
- According to a recent report, the telemedicine market in India stood at US$1.9 billion in 2022, and it is further anticipated to reach US$10.7 billion by 2028. With telemedicine growing and becoming the norm, there have been several transformations and technological advancements happening in the industry. This has given rise to several new trends that are shaping the healthcare industry holistically.
- As per a recent survey, the average duration from the decision to conceive to successful conception was found to be 6.8 years, with an average of 3.6 years spent trying to conceive naturally. This duration is notably longer than the World Health Organization’s recommended timeline for seeking medical consultation for infertility. In India, the duration extends to an average of 4.5 years.
- As countries aim to shift their health systems towards putting people at the centre, data and digital technologies present immense opportunities for making progress. However, they also challenge policy makers in many new ways. In the past thirty years, digital technology has transformed entire societies and the global economy. As per a new report from OECD, it defines digital health as emerging health determinant
FemTech India Partner Company News:
- Sirona, in collaboration with the Suryoday Foundation has influenced the lives of domestic workers in various urban slum areas across Mumbai.
- Anu Shenoy, the co-founder of Veira Life was featured in an article by Rebel and Soul and spoke about her influences in her life.
- Miror published a series featuring Nitya Dintakurti, co-founder at Ru Medical, titled Innovating Menopause Management with FemTech.
- Tamanna Singh, the founder of Menoveda got featured in the podcast by Karishma, and spoke about the woes of menopause and the impact it has on families.
Drugs, Diagnostics, and Pharma:
- US-based global healthcare leader Abbott has launched its digital health tool, FreeStyle LibreLink app in India. The mobile application will allow people who use the FreeStyle Libre system to measure their glucose to now get their readings on their mobile phones anytime, anywhere without the pain of pricking.
- Roche announced that Genentech, a member of the Roche Group, entered into a multi-year strategic research collaboration with NVIDIA that couples Genentech’s artificial intelligence (AI) capabilities, extensive biological and molecular datasets, and research expertise with NVIDIA
- SK bioscience, an innovative vaccine and biotech company committed to promoting human health from prevention to cure, announced that the company has entered into a development licensing agreement with Hilleman Laboratories, a vaccines and biologics research and development organization committed to improving vaccine accessibility and affordability for low- and middle-income countries, for joint development of a second-generation Zaire Ebola virus vaccine.
Government News:
- The Delhi State Aids Control Society (DSACS) has said that the services of screening and confirmation of HIV are being carried out without any interruption and without any inconvenience to the patients in Delhi and the report of test kit short supply is nonfactual and discrepant.
- The Central Drugs Standard Control Organisation (CDSCO) has declared almost 5.5 per cent of the total drug samples it has tested during the month of October, 2023 as not of standard quality (NSQ). This includes samples labelled as manufactured by Intas Pharmaceuticals, Emcure Pharmaceuticals, RPG Life Sciences and public sector undertaking (PSU) Karnataka Antibiotics and Pharmaceuticals Ltd (KAPL), among others.
Research, Insights, and Market Projections:
- A new study is challenging the long-held belief that the brain possesses the extraordinary ability to rewire itself in the face of adversity. Scientists from the University of Cambridge and Johns Hopkins University have launched a daring assault on the widely accepted notion that the brain reorganises and repurposes specific regions to compensate for vision loss, amputation, or stroke.
- Babies as young as four months old possess the remarkable ability to comprehend how their bodies interact with the world around them, according to a recent study conducted by the University of Birmingham. This groundbreaking research sheds new light on the development of self-awareness in infants, highlighting their innate cognitive capabilities.
Jobs on Board:
- Newmi is looking for a DTechnology Lead. Newmi is India’s first omnichannel focused on women’s health and wellness.
- Rocket Health is looking for a DCustomer Success Associate. Rocket Health is a platform which provides healthcare for mental and sexual health.
- Allo Health is looking for a DDigital Marketing Expert. Allo Health is a digital health clinic which has launched India’s first sexual wellbeing program
