This Week in Digital Health

AI, Biotech, and Medtech Lead the Charge in This Week's Healthcare Funding: Evommune, Axonis Therapeutics, and SynOx Therapeutics

More than 100 million U.S. citizens' private health information was stolen in a February ransomware attack on a UnitedHealth subsidiary. The company said it’s still notifying those impacted, and the investigation is “still in its final stages.” https://lnkd.in/dQ6iNvzY

AI isn’t ready for hospitals: Recently, there have been a lot of AI transcription tools designed to lessen the workload for doctors and nurses in post-patient write-ups. But researchers say the tools being used in hospitals are now hallucinating, the AP reports. https://lnkd.in/gcXaJPdd

Level Zero Health is building a device that allows continuous hormone monitoring. The company hopes its device can do what continuous glucose monitoring did for hormonal health for diabetes. https://lnkd.in/dV-KjimT

French health insurance startup Alan wants to build a super app for all things related to healthcare. It’s now launching an AI chatbot vetted by doctors, a shop, and a step-counting feature. The bot will live within Alan’s chat interface, which lets users ask questions to doctors and get an answer within 15 minutes. https://lnkd.in/dpQ-syR4

Vaxinano, a Lille, France-based biotech company specializing in developing prophylactic and therapeutic nasal vaccines, raised €6M in funding. The round was led by TCD Capital, Captech Santé, Nord France Amorçage (NFA), Wiseed, and a group of business angels, with additional support from BPI France. The company intends to use the funds to accelerate its flagship vaccines and immuno-therapies targeting leishmaniasis, toxoplasmosis, and colibacillosis into clinical trials. https://lnkd.in/dAxbDmdf

Thioredoxin Systems AB, a Solna, Sweden-based pharmaceutical company developing a first-in-class antibiotic for multidrug-resistant urinary tract infections, raised SEK25M in Series A Funding. Backers included Mikael Lönn, MD, and Jens Mogensen, as well as GU Ventures, Vasa Angels, Annexstruktur, and Gobia Enterprises. The company intends to use the funds to support the development of EbsArgent™, the first-in-class bactericidal antibiotic for urinary tract infections (UTIs) caused by antibiotic-resistant bacteria. https://lnkd.in/dnBK5CBw

Vara, a Berlin, Germany-based provider of an AI-enabled early breast cancer detection platform, raised $8.9M in funding. The round was led by European family offices Smart Family Office (Austria), FJH (Germany), and Berlin-based healthcare investor IBB Ventures. https://lnkd.in/dtMrafPK

SynOx Therapeutics, a Dublin, Ireland- and Oxford, UK-based late clinical-stage biopharmaceutical company developing a novel treatment for CSF-1 related and macrophage-driven disorders, raised additional funding in Series B round. The round, which brought the total amount to $92M, was led by Gilde Healthcare with participation from Forbion, HealthCap, and Bioqube Ventures. The company intends to use the funds to support a registrational Phase 3 clinical trial of emactuzumab, a CSF-1 receptor (CSF-1R) inhibiting monoclonal antibody for the treatment of Tenosynovial Giant Cell Tumour (TGCT). https://lnkd.in/dhHnthps

Experic, a Cranbury, NJ-based contract development and manufacturing organization (CDMO) and clinical trial supply services company, received an undisclosed growth investment. Backers included 1315 Capital, East Seattle Partners, Harro Höfliger Packaging Systems, and Kineticos Ventures. https://lnkd.in/dFr5s68m