Gender Gap in Healthcare – GHIN&F Newsletter: July 2024

Welcome to the first edition of the Global Health Impact Network & Funds newsletter! We are a unique organization focused on revolutionary changes in clinical and other healthcare processes, founded with a mission to democratize investments in healthcare. Our network of over 2200 medical professionals empowers clinicians to shape the future of global health. Our unique and powerful due diligence methods eliminate marginal proposals to focus on changes that can both make substantial improvements in health care and generate high returns for our clients. From groundbreaking innovations to transformative collaborations, our collective impact is driving significant change in the healthcare landscape. And the journey doesn’t stop here! By joining our network, you can be a part of our ongoing efforts to create a healthier world for all. Together, we can continue to achieve extraordinary milestones and shape the future of healthcare.

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Tapping into a trillion dollar opportunity: closing the gender healthcare gap with Raydiant Oximetry

In this issue, we are thrilled to share the remarkable success of our portfolio company, Raydiant Oximetry. The team at Raydiant has raised an oversubscribed Series A extension round with over $7.5 million in funding. This round was led by Cross-Border Impact Ventures, a women-owned venture capital fund that focuses on the health of women and children across the globe, and syndicated by RH Capital, VCapital, and the March of Dimes Innovation Fund.

This infusion of capital will propel Raydiant’s groundbreaking Lumerah and Daisy technologies through critical clinical studies. In April, Raydiant obtained FDA approval for its Lumerah Investigational Device Exemption (IDE) study. Lumerah is a non-invasive, transabdominal fetal pulse oximeter that can detect fetal distress during labor and delivery and potentially improve outcomes for mothers and newborns during childbirth.

From the very beginning, we believed in Raydiant Oximetry’s vision and potential. Through the Global Health Impact Fund?(GHIF) we invested in their seed and Series A extension rounds, the latter being GHIF-led Special Purpose Vehicle (SPV). As Raydiant scales its operations, this SPV remains open for investments. In alignment with our core values, GHIF has provided Raydiant with not only capital but also vital resources to fuel their journey. Reflecting on our partnership, Raydiant Founder and CEO Neil Ray expressed, “There was even a difference in pitching to GHIF. We didn’t have to explain the problem. With other investors we spent most of the time educating them, and many didn’t even believe in the problem or that there was a barrier to accepting it”. Our unwavering commitment to Neil and his team underscores our pride in championing Raydiant as they continue to achieve greatness.

Want to stay updated with the latest developments at Raydiant Oximetry and other network & fund highlights? Contact GHIF General Partners Gary Goldman MD, DDS, MBA and Sheetal Nariani .

State of the Industry

The longstanding neglect of women’s health in science, medicine, and technology has significant economic and societal implications. A recent report from McKinsey highlights the potential for a $1 trillion economic boost by closing the gender health gap by 2040, benefiting 3.9 billion women. Historically, women have been excluded from clinical trials, leading to a lack of understanding and appropriate treatments for female-specific health issues. This gap persists, with only 1% of research funding focusing on non-cancer-related women's health, resulting in delayed diagnoses and inadequate treatment (Source: McKinsey).

Although venture funding for women’s health companies grew by 5 percent from 2022-23, women’s health companies receive just 2 percent of the total funding allocated for the healthcare industry. However, an increasingly active interest is being taken in bridging the gender disparities in healthcare which is reflected by investments by big allocators such as Google Ventures in women’s health companies.

Efforts to close this gap, such as the US government’s planned $12 billion investment in women’s health research, aim to improve health outcomes and economic productivity (Source: Politico). Increased focus on female-specific conditions and inclusive clinical trials can generate significant benefits, both in terms of quality of life and economic impact. As innovators in healthcare, we have been long excited about the women’s health space, and here we bring to you some of the recent developments in our portfolio and the industry.

Industry News

Bayer and Samsung have teamed up to develop an innovative sleep solution for menopausal women. This collaboration aims to address sleep disturbances common during menopause, leveraging both pharmaceutical and technological expertise. (Source)

Lunit has finalized a $193 million acquisition of Volpara, a global leader in AI-powered breast imaging software. This strategic move aims to enhance Lunit's portfolio in the oncology space, particularly in early cancer detection technologies. (Source).

Dozens of healthcare companies are leveraging Meta’s Llama 3, optimized as NVIDIA NIM, to enhance digital health workflows. Developers can use Llama 3 to deploy optimized generative AI models for copilots, chatbots, and more. Applications range from drug discovery and clinical trials to surgical planning and digital assistants. (Source)?

Melinda French Gates has committed $1 billion in grants to support initiatives aimed at empowering women globally. This investment will fund projects focused on women's health, economic opportunities, and leadership development. (Source)

Rhea, with its latest infusion of $10 million from Thiel, has launched with the acquisition of Embryonics, an AI-driven fertility solutions company. This move is part of a larger investment strategy to advance reproductive health technologies and improve fertility treatment outcomes. (Source)

Mika Health has announced a partnership with AstraZeneca and Daiichi Sankyo to develop personalized breast cancer treatments. The collaboration will focus on integrating AI with clinical data to enhance treatment efficacy and patient outcomes. (Source)

Pelvic health company Materna Medical completes first close of a $20 million Series B2 round. The company had earlier obtained FDA clearance for its OTC Milli Vaginal Dilator and is currently running an expanded feasibility study for its second product Materna Prep. (Source)

NVIDIA Enables Real-Time AI in Healthcare and Industry. NVIDIA has launched NVIDIA AI Enterprise-IGX with Holoscan, enhancing AI applications in healthcare, industrial, and scientific sectors. Companies like Medtronic and SETI Institute are adopting these technologies to improve medical diagnostics, robotic surgery, and radio astronomy. (Source)

Industry Events

As we think about developments in femtech and women’s healthcare, we are looking forward to these upcoming events:

Women Leaders in Healthcare Conference and Awards Luncheon. July 16, 2024 | Chicago, IL. Organized by Modern Healthcare. Find out more here.

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