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Ddigital health Venture funding data for the second quarter of 2023 shows that deals “hit new lows”, according to an analysis released by . pitch book Today. Digital health funding in Q2 was $900 million, compared to $1.2 billion in Q1. ,[W]I don’t expect a significant increase in funding for at least the next several quarters,” writes PitchBook analyst Aaron Deagne. The deals being made, he writes, include existing investors and are also more inclined towards debt financing. Big picture context: In 2021, total digital health deal value reached a high of $16.4 billion, and will fall to $8 billion in 2022. This year it is even less in trend.
So what is being funded? The two most popular categories are behavioral Health And care coordination, The biggest deal of the quarter was worth $115 million. author health, led by General Atlantic and Flare Capital Partners. The Boston-based startup provides treatment for serious mental illness and substance use disorders to seniors covered by Medicare Advantage.
Andreessen Horowitz and others invest $200 million in startup Health IQ. now it’s bankrupt
The company, which is planning liquidation, has assets of $1.3 million and liabilities of about $257 million, according to court filings. This would leave its lenders, investors and vendors with almost nothing.
Read more here.
Pipeline and deal updates
mRNA therapeutics: Moderna announced that it is collaborating with German-based therapeutics company Imatix to develop mRNA-enabled cancer therapy. As part of the deal, Imatics will receive an upfront payment of $120 million with commercial milestones of up to $1.7 billion, not including any royalties.
Autism Diagnosis: Marcus Autism Center in Atlanta has launched its own biomarker-based device that has been authorized by the FDA to aid in the diagnosis of autism in children ages 16 to 30 months.
Health Care Pricing: Semper Health, which developed a dynamic out-of-pocket pricing system for patients, has announced it has raised $20 million in new investment.
Potion Design: Palo Alto-based Inceptive, which aims to develop “biological software” to develop designed medicines, has announced it has raised a $100 million Series A.
Neural Data: Sonera, which is developing non-invasive sensors to track neural activity, announced that it has raised an $11 million seed funding round led by Amplify Partners.
Aging Care: BOLD, which is developing personalized clinical exercise programs for older adults, announced it has raised a $17 million Series A round led by Rethink Impact.
Value-Based Care: Walgreens announced a strategic partnership with healthtech startup Pearl Health to provide software and services for primary care doctors to transition to value-based care.
cure cancer: AI cancer detection startup Paige, which has developed a foundation model trained on more than a billion images from half a million pathology slides, announced a partnership with Microsoft to develop an even larger model with “billions of parameters.”
CDC gives final approval to new Covid booster for most Americans
The Centers for Disease Control and Prevention on Tuesday recommended that Americans six months of age and older receive a new version of COVID-19 vaccines that are specifically designed to target the newest strains of the virus.
Read more here.
Other healthcare news
grocery giant kroger Agreed to pay more than $1 billion to settle opioid-related lawsuits, but have not admitted wrongdoing.
Danco Laboratories, The company that makes abortion pill Mifepristone has asked the Supreme Court to rule on whether the drug should be banned.
Researchers at Massachusetts General Hospital believe they have discovered the hormonal link that explains why exercise may help reduce Alzheimer’s risk. Another study found that people with sedentary lifestyles were more likely to develop Madness,
Former White House Chief Medical Advisor Dr. Anthony Fauci He says he doesn’t expect a return to the federal mask mandate despite the increase in coronavirus cases.
California’s state legislature has sent a bill to the governor Gavin NewsomA Democrat who would ban commonly used chemical ingredients found in popular snacks and drinks, including Brach’s Candy Corn.
As the US approaches the start of flu season, data South America This year’s update shows flu vaccines The risk of hospitalization was reduced by 52%.
Criminals are reportedly using Apple AirTags to track illegal weapons
As Google turns 25, it faces the biggest tech antitrust trial in a generation
Inside Apple’s impossible war on child abuse
What else are we reading
Amid another surge in cases, Covid sets new normal (STAT)
Decongestants found ineffective in cold medicines (The Wall Street Journal)
Eldercare startup Papa loses contracts with major health insurers (Bloomberg)