September 12, 2024
1. University of Utah and EPIC Ventures Launch Innovation-Driven Fund to Fuel Early-Stage Tech Startups
The University of Utah and EPIC Ventures have partnered to launch University of Utah Ventures, a fund designed to accelerate growth for early-stage companies in sectors like software, health sciences, and fintech. By leveraging $700 million in U research funding and EPIC's venture expertise, the partnership aims to drive innovation and economic development in the region. Supported by the Utah Venture Hub, the initiative will provide capital and guidance to faculty spinouts and entrepreneurs, strengthening Utah's role as a leader in technology commercialization. (Link)
2. Health Wildcatters Expands Portfolio with Nine New Startups
Health Wildcatters, a Dallas-based healthcare accelerator, has added nine new startups to its portfolio, bringing the total to 118 companies. The new cohort includes innovators from Texas, the U.S., and Europe, focusing on diverse healthcare areas such as cancer, COPD, obesity, chronic pain, and mental health. CEO Dr. Hubert Zajicek expressed excitement about the potential impact of these startups on patient care. Over the past eleven years, Health Wildcatters’ portfolio companies have collectively raised over $300 million, highlighting the accelerator’s significant role in the healthcare startup ecosystem. (Link)
3. Communitech and MACcelerate Launch MedTech Accelerator with Eight Canadian Startups
Communitech has launched its MedTech Accelerator Program, selecting eight Canadian startups for its inaugural cohort. The program, supported by MACcelerate and the Federal Economic Development Agency for Southern Ontario, aims to help early-stage medtech founders scale their companies. Participants will receive expert coaching, networking opportunities, and personalized action plans to address key challenges in healthcare innovation. The program runs from September 9 to October 4, 2024, and includes companies like AiimSense, Hera Fertility, and Prognostiq Health. (Link)
4. AbbVie Foundation and MATTER Launch Health Equity Accelerator
The AbbVie Foundation, in partnership with MATTER, has launched the AbbVie Foundation Health Equity Accelerator. This initiative aims to support community-based organizations in the U.S. that are working to improve healthcare access for underserved communities. Up to five organizations will be selected to participate in the eight-week program, receiving mentorship, funding, and networking opportunities. One organization will be awarded a $50,000 grant to further develop their innovative health equity solutions. (Link)
5. AdvaMed Receives ANSI Endorsement for Medical Device Standards
AdvaMed, the MedTech Association, has achieved accreditation from the American National Standards Institute (ANSI) to develop industry standards for medical devices. This milestone allows AdvaMed to create standards for medical imaging technologies, cybersecurity, and artificial intelligence. The accreditation ensures that AdvaMed’s standards development processes meet the highest national and international benchmarks for transparency and stakeholder engagement, facilitating global market access and enhancing patient safety. (Link)
6. London’s MiiHealth Selects Phoenix for U.S. Headquarters to Fuel Health Tech Advancements
MiiHealth, a London-based health tech company, has selected Phoenix, Arizona, for its U.S. headquarters. The relocation is poised to bolster MiiHealth's existing connections with significant regional partners. This includes their crucial participation in the Mayo Clinic and Arizona State University's MedTech Accelerator program, which has provided support in refining their AI technology and market strategy. The new headquarters will support the company’s efforts to innovate in areas such as digital health and patient care solutions, leveraging Phoenix’s growing tech ecosystem and talent pool. The company seeks to attract top talent and establish strategic partnerships, vital for driving the innovation. (Link)
7. iGan Partners and Advocate Health led Segmed’s $10.4 Million Series A Funding
Segmed, a leader in providing real-world imaging data for health innovation, has raised $10.4 million in a Series A funding round led by iGan Partners and Advocate Health. The oversubscribed round also saw participation from Castellan Group, Engine Health Capital, Bold Brain Ventures, and Fox Chase Cancer Center , and current investors including Y Combinator, Nina Capital, Nova Capital, Blumberg Capital, and Expeditions Fund. Segmed plans to use the funding to expand its medical imaging solutions for AI development. (Link)
8. Upcoming Innovation Week at Tampa General Hospital Sept 10th - Agfa HealthCare to Demonstrate AI’s New Role in Medical Imaging
During Tampa General Hospital’s first TGH Innovation Week, taking place on September 10, 2024 in Tampa, Florida, Agfa HealthCare is set to showcase the role of artificial intelligence in medical imaging. The company will demonstrate how AI can enhance diagnostic accuracy, streamline workflows, and improve patient outcomes. Agfa HealthCare’s AI-powered solutions aim to support radiologists in making more informed decisions, ultimately leading to better healthcare delivery. (Link)
9. Yosemite and American Cancer Society Announce $6M Research Grants for Advancing Immuno-Oncology and AI in Cancer Care
Yosemite, a venture capital firm, and the American Cancer Society (ACS) have awarded over $6 million in research grants to scientists across the U.S. through their Yosemite-ACS Award. The grants focus on innovative cancer research, including immunotherapy and the application of AI in cancer prevention, detection, and treatment. The initiative funds cutting-edge research on topics like molecular immunity mechanisms, immunotherapy, and AI-based healthcare models, with a shared mission to revolutionize cancer therapies and improve patient outcomes. (Link)
10. FluidAI Medical, Medtronic Canada, Excelar Technologies, Providence Health Care Ventures, and University of Waterloo Launch AI-Driven Postoperative Patient Management Platform to Enhance Care
A consortium led by FluidAI Medical, in collaboration with Medtronic Canada, Excelar Technologies, Providence Health Care Ventures, and the University of Waterloo, has launched the Postoperative Patient Management Platform (PPMP) under Canada's DIGITAL innovation cluster. Using AI and machine learning, the platform aims to predict and prevent postoperative complications like respiratory depression and anastomotic leaks, improving patient outcomes and reducing hospital stays and costs. Initial deployment is planned at St. Paul's Hospital in Vancouver, with expansion to global markets. The project highlights Canada's leadership in healthcare AI innovation. (Link)
11. Subtle Medical Receives Phase II NIH Grant for AI-Powered Brain Imaging Technology
Subtle Medical was awarded Phase II NIH SBIR funding to expand its AI-powered SubtleSYNTH technology into brain imaging. The company previously received FDA approval for SynthSTIR, a synthetic imaging solution that accelerates spinal MRI scans without sacrificing clinical quality. SubtleSYNTH aims to improve MRI efficiency, addressing procedure backlogs and long wait times. The company recently raised over $10 million in a Series B+ round, bringing total funding to more than $50 million to support product expansion and global sales. Chief Product Officer Ajit Shankaranarayanan emphasized the technology’s potential to enhance MRI speed, quality, and safety. (Link)
12. Nigeria Launches ₦100 Million AI Fund to Empower Startups and Drive Innovation in Key Sectors with Support from Google
Nigeria has launched a ₦100 million AI Fund to support the nation's brightest AI startups. The initiative, developed by the National Centre for Artificial Intelligence and Robotics (NCAIR) in collaboration with Google, aims to accelerate AI-driven solutions across sectors like healthcare, agriculture, and education. Selected startups will receive up to ₦10 million, access to AI tools, mentorship from Google experts, and global networking opportunities. This fund is part of Nigeria's National Artificial Intelligence Strategy (NAIS) to boost economic growth and innovation. Applications are open from September 10 to 25, 2024. (Link)
13. World Innovation Summit for Health Reveals ‘Humanizing Health’ as Theme of Its 7th Global Conference
The World Innovation Summit for Health (WISH), a global health initiative of Qatar Foundation, has announced ‘Humanizing Health: Conflict, Equity, and Resilience’ as the theme for its 7th global conference. Scheduled for November 13-14, 2024, in Doha, the conference will focus on health innovation to support vulnerable societies and areas of armed conflict. WISH has partnered with the World Health Organization to develop evidence-based reports and policy papers to address pressing global health challenges. (Link)
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