San Jose
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Artificial Intelligence, BioPharma
Big tech firm Cadence expands to drug simulation software through $500M deal
Use of computational software in drug research is growing, and some big tech companies are angling for a piece of this market. Cadence Design Systems is entering the life sciences sector through the $500 million acquisition of OpenEye Scientific, a company that provides computational drug design software to the pharmaceutical industry.
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General Catalyst leads $101M investment in startup helping pharma build digital health tools
BrightInsight, a startup developing infrastructure to make it easier for companies to make their own health apps, raised $101 million in funding. General Catalyst led the series C round.
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Devices & Diagnostics, Diagnostics, Health Tech
Cardiac monitoring startup CEO: iRhythm and others are “one-trick” ponies
VitalConnect’s CEO Peter Van Haur believes his company’s product not only does a great job in real time cardiac remote monitoring but also has something larger competitors lack: the ability to monitor other vital signs
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Startups, Devices & Diagnostics
Eargo goes public, raising $141.3M
The Bay Area hearing device-maker planned to raise $141.3 million in an upsized IPO. Its stock started trading on Nasdaq under the ticker “EAR.”
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Theranos founder Elizabeth Holmes may seek ‘mental disease’ defense in trial, document shows
A partially redacted document filed in federal court last week in connection with the trial stated that Holmes planned to obtain an evaluation from a psychologist. The court allowed federal prosecutors to obtain an evaluation from their own experts as well.
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Devices & Diagnostics, Health Tech
Portable dialysis company Outset Medical files for IPO
Outset Medical, a San Jose-based company making portable dialysis machines, filed the initial paperwork for an IPO. The company has not yet set a price range for its stock, but said it plans to raise roughly $100 million.
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Venclose brings in $27 million Series C to market venous reflux solution
Venclose has received $27 million in Series C funding to expand market share for it venous reflux therapy. This RF ablation device is designed to simplify treatment and reduce procedure times.
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Devices & Diagnostics, Pharma, Startups
BrightInsight raises $25M for its connected health software tool
San Jose-based BrightInsight is a spin-off from contract manufacturer Flex and has raised funding for its internet-of-things platform for connected medical devices and drug delivery systems.
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New startup aims to help investors avoid debacles through medical diligence
Two executives have launched a new Silicon Valley firm, MDisrupt, designed to assess the medical claims made by health tech startups to help investors to separate the wheat from chaff and guide startups seeking to commercialize products.
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Trayt Health Seeks to Increase Access to Diagnoses and Treatments
CEO Malekeh Amini explains how Trayt Health can bridge the gap for patients seeking neurological care.
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Lawyers for Theranos’ Elizabeth Holmes get delay in trial date
Various news outlets reported that attorneys for Holmes successfully convinced a federal judge to delay setting a trial date in order to get more time to review some 20 million pages of documents.
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Is Foundation Medicine about to get some good regulatory news?
At an industry conference hosted by the largest medtech lobby, CMS officials hint that they have arrived at a decision regarding Foundation Medicine’s genetic test.
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FDA’s Scott Gottlieb: LDTs are no longer a “mom-and-pop” industry and need legislative approach
At a medtech industry conference, the FDA Commissioner forcefully called for legislation to regulate the lab-developed testing industry and said he is speaking to lawmakers on Capitol Hill.
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A Silicon Valley future for medtech
Flex, a global electronics contract manufacturer, is reshaping itself to grow its $2 billion healthcare business and believes its take on the future will help traditional medtech companies fare better.
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Valley Health Plan applies AxisPoint Health’s care management solution
Valley Health Plan, a California-based organization with 160,000 members, has implemented AxisPoint Health’s CarePoint condition management solution.
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DIY dialysis maker Outset Medical raises $76.5M to scale manufacturing
The company, which wants to disrupt the dialysis service model, envisions its dialysis device eventually being used in patient homes.