In August 2023, med-tech firms raised a total of $1.88 billion through 27 transactions, an increase of 94.12% from the $971 million raised in July. Value is down 42.83%, however, from the $3.3 billion raised in August 2022. The volume of med-tech financings is tracking at an average of 41 per month in 2023, down from an average of 43 per month in 2022, 59 per month through 2021 and 60 per month in 2020.
Japan’s Pharmaceutical and Medical Devices Agency (PMDA) has jumped on board the e-consent train for clinical trials, publishing a guidance for the use of electronic means for obtaining a study participant’s informed consent.
South Korean CAR T developer Curocell Inc. said on Sept. 8 that it passed a preliminary screening to list on Kosdaq – news that comes four months after its application was made to the Korea exchange on May 2, 2023, and a year after its first failed application in January 2022.
China’s recovery from its zero-COVID policy has failed to gain the momentum expected, with many experts predicting a slow or even negative growth rate. A slower economy, combined with a push toward self-reliance, bodes poorly for diagnostics manufacturers in the U.S. who may find themselves not just shut out of the huge market but facing stiffer competition around the globe. Further, policies designed to build a domestic next-generation sequencing industry have created headwinds for San Diego-based Illumina Inc. and others, noted Kyle Mikson and Alex Vukasin of Canaccord Genuity in an in-depth report.
Wearoptimo Pty. Ltd. saw the publication of a patent application for its method and system for analyzing measurements from a wearable patch with sensors connected to microstructures that when applied to the skin penetrate the stratum corneum and enter the viable epidermis.
South Korean biopharmaceutical firms are facing a harsher climate and an uphill battle both domestically and abroad, amid the larger economic downturn that has slowed everything from new drug approval to dealmaking. At the Global Pharma Key Opinion Leaders (GPKOL) 2023 Symposium held at the El Tower on Sept. 7 in Seocho-gu, Seoul, officials from the industry, government and academia gathered to discuss strategies on bouncing back from the lasting effects of the COVID-19 pandemic.
People who can’t verbalize their pain often end up being under medicated, and Painchek Ltd. uses artificial intelligence (AI) to identify the presence of pain even when it may not be obvious. This gives a voice to those who cannot verbalize pain, while also driving objectivity and consistency in pain assessments.
As a pioneer of harnessing artificial intelligence (AI) to drug discovery, Insilico Medicine Inc. recently made breakaway progress to bring a generative AI-designed drug to life, announcing the progression of its INS018-055 candidate to phase II trials for idiopathic pulmonary fibrosis.
Genexine Co. Ltd.’s recombinant human growth hormone eftansomatropin alfa (GX-H9/TJ-101) met the primary endpoint in a phase III pediatric study conducted in China in children with growth hormone deficiency, and the company plans to file a BLA in 2024 in China on the data.
Rapidly evolving artificial intelligence (AI) is effectively resetting all biopharmaceutical companies to the figurative starting line, and collaboration is a key strategy to winning the drug discovery race, an AI-based startup founder said at the Global Bio Conference (GBC) 2023.
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