TikTok’s Parent Company Is Moving Into Pharma
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Beijing-based tech big ByteDance, higher often called the dad or mum firm of social media platform TikTok, is recruiting scientists in quite a lot of fields for AI-based analysis into drug discovery and different scientific endeavors, in keeping with reporting from our colleague Alexandra Levine. It’s not clear precisely how drug discovery matches into the corporate’s total technique, but it surely’s already revealed analysis on protein and drug design. It’s additionally launched an open supply AI device for computational biology.
Learn the entire story right here.
How This Startup Is Utilizing 10 Million Affected person Data To Cut back Bias In Well being AI
Whereas the Biden administration grapples with the right way to sustain with the fast-changing know-how, Dandelion Well being is making an attempt to fill the void with a de-identified dataset for builders to construct and take a look at how their algorithms carry out. Dandelion’s founding group hopes they can assist set up a framework for testing and validating healthcare AI whereas regulators play catchup. To take action, the startup simply closed a $15 million seed spherical led by Major.
Learn extra right here.
Pipeline & Deal Updates
Fund Launch: Goldman Sachs announced the closing of its $650 million West Avenue Life Sciences I fund, which the financial institution says will “spend money on and construct the following technology of main life sciences corporations.”
Biotech IPO: CG Oncology, which is creating a therapy for bladder most cancers, filed for an IPO on Monday. The corporate, which is led by Forbes 30 Underneath 30 alum Arthur Kuan, is trying to elevate as much as $100 million. Learn our previous protection of CG Oncology here.
Medicare: Devoted Well being, which delivers each insurance coverage and first care to Medicare sufferers, introduced it raised a $175 series E round.
Hospitals: Well being techniques BJC Well being System of St. Louis and Saint Luke’s Well being System of Kansas Metropolis introduced they’d completed their merger, first introduced in spring of 2023. The ensuing entity will herald roughly $10 billion in income a 12 months and can serve sufferers in Missouri, Illinois, Kansas and different midwestern states.
Gene Modifying, Weight problems Medication And Lengthy-Residing Canine: The 12 months In Biotech
2023 noticed huge shifts within the macroeconomics of the biotech sector, but additionally main technological milestones for longer, more healthy lives. One of many highlights consists of the primary FDA approval for a Crispr gene remedy: Casvegy, co-developed by Vertex Prescribed drugs and Crispr Therapeutics.
Learn extra right here.
Different Healthcare Information
On January 1, California turned the primary state to develop eligibility for its Medicaid program to undocumented immigrants.
An appeals courtroom briefly halted the Worldwide Commerce Fee’s order banning sure Apple Watch gross sales.
Ceremony Assist has closed about 200 shops since submitting for Chapter 11 chapter safety.
U.N. consultants are urging the U.S. to halt the primary execution by nitrogen gasoline scheduled to happen in Alabama, warning it could possibly be thought-about torture.
Well being officers warn about artificial opioids known as nitazenes, that are stronger than fentanyl.
Animal trials counsel a vibrating tablet that reduces meals consumption developed by MIT researchers might maintain promise as a future weight reduction choice for people.
Throughout Forbes
Right here’s How A lot Supreme Courtroom Justice Clarence Thomas Is Value
Why TikTok Recommendation To Report Your Ex To The IRS Doesn’t At all times Add Up
The Prime 10 Richest Individuals In The World (January 2024)
What Else We’re Studying
VA’s Private Health Plan Faces Huge Cost Overruns (Washington Monthly)
