Welcome to This Week in Health

We dive into the latest developments at the intersection of technology and healthcare. As innovation continues to reshape the #healthcare landscape, our focus this week highlights concerns and advancements, from data privacy breaches to groundbreaking funding rounds to advancing medical research and patient care.

In a concerning revelation, Glow, a platform dedicated to tracking female fertility, inadvertently exposed the personal data of 25 million users, spotlighting ongoing concerns about #dataprivacy in #digitalhealth applications.

A national survey has unveiled that 73% of digital health companies use standards-based application programming interfaces (APIs), predominantly utilizing the FHIR (Fast Healthcare Interoperability Resources) standard. This trend underscores the industry's move towards improving the integration of digital health solutions with existing electronic health records systems, aiming to enhance interoperability and patient care.

Amidst growing concerns over the privacy of health-related data, state governments across the US are stepping up. Legislation is being introduced or considered to prevent the sale of personal health data and restrict information sharing about visits to sensitive locations, such as sexual health clinics. This move marks a significant step towards safeguarding patient privacy in an increasingly digital world.

The funding landscape in digital health continues to be vibrant and diverse, showcasing significant investments in startups that are pioneering innovative solutions across a broad spectrum of healthcare challenges:

BioAge Labs , a startup founded nine years ago and located in Richmond, California, dedicated to creating an oral therapy for #weightloss, has raised $170 million in a Series D funding round. Sofinnova Investments led this round and saw participation from Longitude Capital , RA Capital, Cormorant Asset Management, LP , RTW Investments, LP , SV Health Investors , OrbiMed Advisors, Sands Capital , Pivotal bioVenture Partners , Osage University Partners (OUP) , Lilly Ventures , Amgen Ventures, along with returning investor Andreessen Horowitz .

Latigo Biotherapeutics, Inc. , a startup founded six years ago and headquartered in Thousand Oaks, California, focuses on developing non-opioid pain management solutions and has successfully raised $135 million. This funding round was led jointly by Westlake BioPartners? , 5AM Ventures , and Foresite Capital , with additional investment from Corner Ventures .

Firefly Bio , a Burlingame, California-based startup focused on creating targeted #cancer therapies by merging antibody-drug conjugates with selective protein degraders, successfully secured a $94 million investment. This funding round was jointly spearheaded by Versant Ventures and MPM BioImpact , with further contributions from Decheng Capital and 礼来 .

Sudo Biosciences , a startup four years in operation and based in Carmel, Indiana, focusing on the development of TYK2 inhibitors to treat conditions such as multiple sclerosis, psoriasis, and other serious autoimmune and neurological diseases, has successfully secured a $30 million Series B extension. The financing round was led by Enavate Sciences and TPG , featuring participation from DDF, Leaps by Bayer , UPMC Enterprises , along with returning investors such as Sanofi Ventures, Frazier Life Sciences , Surveyor Capital , Monograph Capital , Eventide Asset Management , and Velocity Capital . The company has amassed a total funding of $188 million to date.

PatientFi , a seven-year-old startup based in Irvine, Ca., that partners with healthcare practices to offer patients monthly payment plans for elective procedures, raised a $25 million round. Questa Capital Management was the deal lead.

Anatomy Financial , a startup based in San Francisco focused on streamlining financial operations for #healthcare organizations, including billing, payments, and financial reporting, has secured a funding round of $7.6 million. The investment was supported by a group of investors: Lightspeed , Meridian Street Capital , Live Oak Ventures, LLC , Cambrian Ventures LLP , and Peterson Ventures .

TORTUS , a startup based in London and established two years ago to minimize medical errors through an AI co-pilot for clinicians, has raised $4.2 million. Khosla Ventures led the funding round.

Ilara Health , a Kenyan-based startup established five years ago that offers financing for #diagnostic equipment and #pharmaceutical supplies to primary care clinics across Africa and digitizing clinic operations, has secured $4.2 million in debt and equity financing. DOB Equity spearheaded the deal, with contributions from the Philips Foundation , AAIC Investment , Angaza Capital , Black Pearl Investments , and Perivoli Innovations. The company has accumulated $11.7 million in funding through equity, debt, and grants.

Merit Medicine , an Austin-based startup specializing in AI-driven software that enables self-funded employers to predict the use of high-cost specialty drugs and identify rare, chronic, and complex conditions, has secured a $2 million seed funding round. LiveOak Ventures led the investment.

Amply, a Belfast-based startup developing an AI-driven platform for #drugdiscovery focused on finding new treatments for conditions such as acute myeloid leukemia, has raised $1.8 million. Innovate UK and Innosuisse jointly led this funding round.

Funds

.406 Ventures , a venture capital firm located in Boston specializing in investments across healthcare, data AI, and cybersecurity sectors, has announced the successful closure of its fifth fund, amassing $265 million in capital commitments.