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Verv closes $3.8 million seed round to develop at-home blood testing kit (BETAKIT)
Self-testing kits open new methods for consumers to monitor their health in any location. A wide range of self-testing kits has become available in the market, including tests for colon cancer, hepatitis C, declining vision, urinary tract infections, and blood pressure monitoring.
Big tech firm Cadence expands to drug simulation software through $500M deal (MEDCITY NEWS)
Cadence Design Systems offers computational technologies used in sectors such as communications, automotive, and aerospace and defense. The company is now adding drug discovery to its scope through a $500 million deal to acquire OpenEye Scientific, a privately held provider of simulation software used in computational drug design.
Backed by Yoshua Bengio, Ubenwa is using AI to diagnose neurological issues through baby cries (BETAKIT)
Using machine learning, Ubenwa – which means the cry of a child in the Igbo language – claims it can decipher baby cries to detect and diagnose medical conditions that have traditionally been difficult to diagnose.
Cleerly raises nearly $200 mln in fundraise led by T. Rowe Price, Fidelity (REUTERS)
While a selloff in equities on fears of a global economic slowdown has dried up funding for late-stage startups in recent months, the healthcare sector continues to be resilient due to investor interest sparked by the COVID-19 pandemic.
“We do not take for granted that nearly all of our series B investors also invested in our series C, in this current economy,” Founder and Chief Executive James Min told Reuters.
Check out these Canadian tech venture funding reports for Q2:
All data sourced via briefed.in. BetaKit is a briefed.in Tech Report media partner.
Digital health company Included Health cuts workforce as part of restructuring move (FIERCE HEALTHCARE)
Virtual care company Included Health, which was formed through the merger of Grand Rounds Health and Doctor on Demand last year, recently reduced its headcount by less than 6%, a company spokesperson confirmed to Fierce Healthcare.
Oncoustics secures $5.5 million CAD to help spot liver disease using AI (BETAKIT)
The growing handheld, ultrasound medical device market currently features manufacturers ranging from big players like GE and Philips to emerging upstarts like Butterfly Network and Exo. But according to Oncoustics CEO Beth Rogozinski, these devices are “not typically used” in radiology.
“They’re really intended to be deployed at primary care, emergency departments, [or] in the lab because the image quality is so low.”
Teladoc Stock Sinks on Wider Loss and Weak Guidance (BARRONS)
Teladoc said it expects third-quarter revenue of $600 million to $620 million. The company said it anticipates third-quarter adjusted Ebitda of $35 million to $45 million, well below Wall Street forecasts of about $64 million.
Direct primary care provider Everside Health scores $164M (MOBIHEALTH NEWS)
Everside works with employers and unions to offer healthcare directly to their workers without an insurer middleman. It includes health centers and virtual care, and offers primary care, chronic condition management, mental health services, urgent care, occupational health and care coordination.
From seed to fork: building better food systems through impact investing (BETAKIT)
“It has to start with providing all people—emphasis on all—with enough food and nutrients to nourish themselves,” said Ran Goel, founder of Fresh City Farms in Toronto. “That is the foundation. Then the question becomes: how do we do that in a way that can essentially carry on indefinitely into the future?”
Pear Therapeutics announces layoffs (MASS DEVICE)
The layoffs are part of an overall operations restructuring that the Boston-based company said will “narrow its near-term business focus and reduce its workforce due to the macroeconomic environment,” according to an SEC filing after market close.
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Michael Edgar
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