- Healthtech startup In-Med Prognostics has raised $2.13 million led by investment firm Exxora along with other angel investors. The Pune-based organization plans to use the funding to expand its product portfolio and tap global markets.
- Medify, a Mumbai-based HealthTech startup, on Tuesday announced the closure of its $1 Million Seed Round. According to the company, it was led by Autumn Investment & Infrastructure and included participation from notable Financial Intermediaries and Angels.
- On Tuesday, the SAMRIDH Healthcare Blended Financing Facilityannounced that it has committed INR 2.95 Crore ($421K) to StratMed to support their tech-enabled platform, Integer, linking all key stakeholders in the healthcare supply chain ecosystem – including hospitals, manufacturers and suppliers.
- A Morgan Stanley fund is main in the race to put money into Chennai-based geriatric care firm Athulya Assisted Living Pvt. Ltd. North Haven India Infrastructure Fund, managed by Morgan Stanley Investment Management Inc., could make investments ₹100 crores ($12 million) in Athulya for 20-25% stake.
- The global IVF market is set to receive a massive boost thanks to innovative new technologies, according to Frost & Sullivan analysis.
The practice of freezing eggs, sperm, and embryos for IVF is becoming popular, which has significantly increased the demand for IVF services. The global market for IVF services is anticipated to grow significantly, with a compound annual growth rate (CAGR) of 20.46%, from $17.37 billion in 2022 to $43.97 billion in 2027.
- As per a World Economic Forum Report, there are wide gaps in research and treatment ability for areas that are unique to women, such as maternal and menstrual health, as well as for conditions that present differently in women than men.
- As per a report by Cybernews, with a potential addition of 47 millionwomen a year, making up 1.2 billion women around the world, suffering from the effects of menopause, many brands are seeing a big business opportunity in femtech.
- Newmi has introduced ‘Women at Work’ – India’s first & most comprehensive life journey-based health & wellness care plans for companies, which helps meet the distinct needs of women workforce with age, health & goals-driven comprehensive solutions covering including preventive screenings, diet, yoga, mental wellness, among many others.
- Urgent need to develop antibiotics for newborns:
Experts – Recent estimates show about 2.3 million newborns die of severe bacterial infections each year while an increasing number are becoming resistant to currently-used antibiotics.
- Google Introduces ChatGPT-like ChatBot for Healthcare – With the release of large language models like GPT-3 and PaLM, big techs have been experimenting with large language models for quite some time now. Recently, Google also joined the party in response to Open AI’s ChatGPT, called the MedPaLM, specifically for answering medical queries.
- 2023 AI Trends in Health Care
Health care spending on AI software is expected to grow 40% in 2023, from $4.4 billion in 2022 to nearly $6.2 billion in the new year, according to Omdia forecasts. Health care is going to grow faster than most other industries, and according to our forecasts, we expect spending on AI in the health care sector to be ranked second only to consumers in 2027.
- Meet 15-Year-Old Ananya Who Is Raising Menstrual Health Awareness Among Rural Girls
Ananya Malde has formulated a comprehensive curriculum on menstrual health. She conducts awareness sessions among the girls in rural areas of Gujarat and also provides them with eco-friendly sanitary pads – Read more
- Introducing GAYA Wellness, The First-Ever Comprehensive Telemedicine Platform For Women. Empowering Women To Take Control Of Their Wellness.
- FemTech & HealthTech trends in 2023
Health-tech is a fast-growing industry vertical within the broader healthcare sector, currently accounting for just 1 per cent. We are entering 2023 with the belief that the next phase of the Indian health-tech sector will witness the industry getting powered by innovation and new technologies like artificial intelligence, data analytics, and a move towards integrated and personalised preventative healthcare.
Some of the major trends that will shape our FemTech and healthcare landscape in the years to come are omni channel healthcare delivery, telemedicine, artificial intelligence-assisted diagnosis, increasing demand for quality healthcare services, efforts towards a cyber secure ecosystem and expanding insurance coverage.
- As per the “11 Tech Trends Report” of CB Insights for 2023, Femtech turns to menopause. More startups are turning their attention to underserved issues like menopause as the women’s health space continues to expand. The bio-based materials boom.
Drugs, Diagnostics, and Pharma News
- The government research body ICAR-NIHSAD has transferred to four private companies the first indigenous vaccine technology for the H9N2 avian influenza virus in chickens.This vaccine technology has been transferred to Secunderabad-based Globion India, Pune-based Venkateshwara Hatcheries, Gurugram-based Indovax Pvt Ltd and Ahmedabad-based Hester Biosciences.
- US-based Blacksmith Medicines has signed a merger agreement with Forge Therapeutics to develop and discover drugs that target a large class of proteins called metalloenzymes. Based in California, Forge Therapeutics is involved in developing novel antibiotics that target bacterial metalloenzymes.
- BDR Pharmaceutical announced that it has launched the first generic Apalutamide (Brand name APATIDE) in India to treat metastatic castration-sensitive Prostrate cancer and non-metastatic castration-resistant Prostrate cancer. The product will be available across India and shall be of 60 mg strength and available in two packs – 60 tabs and 120 tabs.
- Aster DM Healthcare has signed an agreement for the Operation and Management of Madegowda Super Specialty Hospital (or “GMSSH”) in Mandya, Karnataka, with Vritika Hospitals (or “VHPL”) and Bharathi Education Trust. The Company’s lock-in time is 5 years, while VHPL and the Bharathi Education trust’s lock-in period is 15 years. The O&M’s term is 15 years.
- The National Commission for Indian System of Medicine (NCISM) and Central Council for Research in Ayurvedic Sciences (CCRAS) under The Ministry of AYUSH launched ‘SMART’- the scope for mainstreaming ayurveda research in teaching professionals programme, to boost scientific research through Ayurveda College.
- The Union Health Ministry has proposed merging the existing National Board of Examinations in Medical Sciences (NBES) as an independent board under the National Medical Commission, which will also be in charge of conducting the next exam.
- The Pradhan Mantri Ayushman Bharat Health Infrastructure Missiontargets to build an IT-enabled disease surveillance system by developing a network of surveillance laboratories at block, district, regional and national levels, in Metropolitan areas & strengthening health units at the Points of Entry, for effectively detecting, investigating, preventing, and combating Public Health Emergencies and Disease Outbreaks.
- The National Health Authority (NHA) is releasing the beta version of a lightweight, robust, and ABDM-compliant Hospital Management Information System (HMIS). This HMIS solution is envisioned to provide a digital platform for healthcare providers, particularly focusing on private clinics and small health facilities.
Market Insights and Research News
- The Indian Institute of Technology (IIT) Kanpur and Apollo Hospitalsannounced the signing of an MoU for collaborative research in the clinical application of AI and other areas of mutual interest in healthcare technology.
- Researchers at The University of Texas MD Anderson Cancer Centrehave discovered a novel immunotherapy combination, targeting checkpoints in both T cells and myeloid suppressor cells, which successfully reprogrammed the tumour immune microenvironment(TIME) and significantly improved anti-tumour responses in preclinical models of pancreatic cancer.
- A team led by Van Andel Institute scientists has identified two distinct types of obesity with physiological and molecular differences that may have lifelong consequences for health, disease and response to medication.
- Nua, a D2C brand transforming women’s wellness in India is looking for Social Media Executives to help the brand build its presence on social media platforms.
- Prev, a brand that aims for safer and more convenient access to oral contraception for women globally is looking for a Partnership and Alliances Manager.
We are pleased to be partnering with The Women’s Health Innovation Summit Asia 2023 (March 22-23).
- WHIS Asia 2023 is bringing you an incredible platform and an amazing lineup of industry leaders to propel innovation and investment opportunities in Asia.
This summit will focus on the key challenges facing each subsector in women’s health, with sessions covering menstrual care, reproductive health, sexual wellness, menopause care, and beyond. The summit will also feature dedicated networking sessions, the Innovation Showcase and the all-new FemTech Asia Awards.
Highlights: We’ve been featured
We at FemTech India are constantly looking to create significant contributions to the Indian FemTech ecosystem. We are humbled and grateful that our efforts have been spotlighted! We are super elated that we have been featured on Financial Express (India).
Today’s newsletter was brought to you by Navneet Kaur and Jayant Pal Singh