Cala Health, a Silicon Valley-based medical device company, has raised $50 million in a funding round co-led by Vertex Group Fund and Nexus NeuroTech Ventures and joined by Cala’s previous backers at Action Potential, Johnson & Johnson Innovation, Lightstone, Lux Capital, GV, OSF Ventures, Ascension Ventures, TriVentures, Reimagined Ventures, Peak6 and Fiscus. The company's wearable neurostimulator, kIQ, recently secured Medicare coverage for treating hand tremors caused by Parkinson's disease and essential tremor. The FDA-cleared device offers a non-invasive alternative to medications with potential side effects. The funding will be used to increase patient and physician awareness of the treatment. Cala Health's CEO, Deanna Harshbarger, expressed excitement about the support from both new and existing investors for their innovative technology. (Link)
ARC and Ilex Medical have unveiled embARC Ventures, a novel investment platform aimed at propelling Israeli and global healthtech startups. The initiative offers a $250,000 investment, a 3-month tailored program, and a year of office space at ARC Innovation's facility. Led by Dan Shwarzman, embARC provides startups with expert mentorship, global networking opportunities, and support for funding and strategic partnerships. The program is designed to help innovative founders navigate the complexities of healthcare markets, from regulation to market entry. With its comprehensive approach, embARC Ventures seeks to accelerate medical innovation and drive global impact in the healthcare sector. (Link)
After 19 years of research, Dr. Daniel Starczynowski and his team at Cincinnati Children's Hospital have developed KME-0584, a novel drug targeting advanced acute myeloid leukemia (AML) and high-risk myelodysplastic syndrome (HR-MDS). The drug, which inhibits both IRAK1 and IRAK4 kinases, has received approval for clinical trials, potentially benefiting up to 100 patients in the coming months. This breakthrough represents one of the few therapeutics developed entirely at Cincinnati Children's, from concept to clinical candidate. The journey involved extensive collaboration, including the formation of Kurome Therapeutics to advance the drug's development. This milestone showcases the institution's growing capacity for translational research and drug discovery. (Link)
Penn's innovation community gathered at the Jordan Medical Education Center for the annual Celebration of Innovation, honoring researchers and inventors with patents issued in the past fiscal year. BlueWhale Bio clinched the Deal of the Year Award, while Heirloom Carbon Technologies was named Startup of the Year. Penn Health-Tech received the Paul D. Sehnert Memorial Partner of the Year Award. Dr. Troy Olsson from Electrical and Systems Engineering was recognized as Emerging Inventor of the Year, and Dr. Marco Ruella from the Division of Hematology/Oncology earned the prestigious Inventor of the Year title. The event showcased Penn's commitment to fostering innovation across various fields. (Link)
Morgan Health, a JPMorgan Chase business unit, has made a strategic investment in Merative, a leading healthcare data and analytics provider. The investment aims to improve employer access to comprehensive healthcare data, addressing a key challenge in developing health quality strategies. Merative's Truven platform, which includes Health Insights and MarketScan databases, will be enhanced to offer better analytics for employers. This move aligns with Morgan Health's goal of improving employer-sponsored healthcare quality and affordability. The partnership will leverage JPMorgan Chase's expertise to accelerate Merative's value delivery to employers, while Francisco Partners remains the majority investor. (Link)
MATTER, a healthcare innovation hub, has partnered with the Lundbeck US Charitable Fund to launch the Advancing Brain Health Innovation Challenge. This 10-week accelerator program aims to address barriers in care for rare neurological diseases. Participants will receive mentorship, resources, and a $10,000 stipend, with one selected for additional funding to validate their solution. The program culminates in a pitch event in May 2025. Steven Collens, CEO of MATTER, emphasized the importance of improving referral systems, patient literacy, and diagnostic pathways. Molly Poarch of Lundbeck US Charitable Fund highlighted the potential for innovative solutions to transform lives of those affected by rare neurological conditions. (Link)
The Common Health Coalition kicked off its first Common Health Challenge, focusing on Community Health Workers (CHWs) as catalysts for a reimagined health system. The initiative aims to strengthen collaboration between healthcare and public health sectors by integrating CHWs into organizational efforts. The virtual event featured panels with leading health experts and announced the 2025 Catalyst Award program, which will recognize ten organizations for their work in integrating CHWs. The challenge seeks to improve community health, increase preparedness, and reinforce the impact of health professionals by supporting locally-driven, collaborative CHW programs across the United States. (Link)
dBio has joined the American Heart Association's Center for Health Technology & Innovation Innovators' Network, aiming to accelerate healthcare technology development. The company will introduce StethoCloud, its AI-powered wearable stethoscope, at AHA's Scientific Sessions 2024. Weighing just 15 grams, StethoCloud connects to smartphones via Bluetooth, offering real-time cardiovascular monitoring and analysis. This collaboration allows dBio to access AHA's digital scientific guidelines and clinical recommendations, potentially lowering costs for clinical outcome studies. Judy Wu, dBio's business development director, expressed excitement about the partnership, which aligns with their mission to drive innovation in healthcare technology and improve cardiovascular care globally. (Link)
Indiana University Health has awarded $6.1 million to 12 community organizations to improve Hoosiers' health through various initiatives. The grants, part of IU Health's Community Impact Investment Fund, will support projects ranging from affordable housing and employment training to mental health services and infant mortality prevention. Recipients include Beacon Inc., Boys & Girls Club of Tipton County, and Healthier Moms & Babies Inc. Since 2018, IU Health has distributed over $38 million in grants and secured an additional $3.6 million in donations. IU Health President Dennis Murphy emphasized the importance of addressing social and economic challenges to improve overall community health. (Link)
The Digital Health Technologies Accelerator (DHTA), led by Ulster University in collaboration with Queen’s University Belfast, has received £2.5M in funding from UKRI to advance healthcare innovation in Northern Ireland. Focused on diagnostics, heart failure devices, and wearable technologies like AI-powered ECG monitors, the initiative aims to improve healthcare outcomes and drive economic growth. Backed by £150M in regional investments, the four-year project will create 3,000 jobs, establish a world-class MedTech ecosystem, and strengthen ties between academia, SMEs, and civic bodies. This transformative effort cements Northern Ireland's leadership in life sciences and digital healthcare innovation. (Link)
Cradle, a leading AI-powered protein engineering platform, has raised $73 million in Series B funding led by IVP, bringing its total funding to over $100 million. The company's technology accelerates the discovery and development of improved proteins, addressing challenges in pharmaceuticals, food, agriculture, and materials. Cradle's platform has shown significant success in reducing R&D timelines and unlocking stalled projects. The funding will be used to expand Cradle's wet lab, enhance ML capabilities, and grow its team. With the appointment of Sam Partovi as CCO, Cradle aims to expand its impact in the biotech sector and put its software in the hands of a million scientists. (Link)