Making The Pharma Supply Chain More Resilient

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Christina Smolke is utilizing large-scale fermentation to produce key ingredients for medicines. Smolke, the cofounder and CEO of synthetic biology startup Antheia, revealed at the Forbes Sustainability Summit that their vats of yeast can produce enough drug ingredients to make over 100 million doses of medication in just five days. This process is much more efficient compared to traditional methods, which would require vast areas of land to grow medicinal plants over a span of years. Antheia’s initial products are thebaine and oripavine, essential components of pain management and addiction treatment medications like codeine, hydrocodone, and naloxone.

Smolke highlights the lack of resilience and redundancy in the current pharmaceutical supply chains, which often suffer from global distribution and single-source failures that disrupt the availability of drugs for conditions like ADHD and cancer. Factors such as climate change, floods, fires, and regulatory issues contribute to these disruptions. Antheia’s innovative approach aims to address these challenges and create a more resilient supply chain. Read more about Smolke and Antheia’s groundbreaking work in brewing prescription drug ingredients here.

Bankrupt Digital Health Company Babylon Sells U.K. Assets For Just $620,000

Babylon, a bankrupt digital health company, has sold its U.K. telemedicine assets to eMed for a mere $620,000. The company owes its main lender AlbaCore a total of $380.5 million in loans, with only $34.5 million secured by collateral. While AlbaCore will receive a distribution, it will still suffer a shortfall, according to the bankruptcy filing.

Read more here.

Pipeline & Deal Updates

Workflow Software: Awell, a digital health startup from Belgium, has raised a $5 million seed round to fund its expansion in the United States. Awell’s clinical workflow software automates processes such as triage, patient onboarding, and care plans. The company already has clients like Commons Clinic, Parsley Health, and Patina.

Birth Control App: Natural Cycles has received 510(k) clearance from the FDA for integrating its temperature tracking technology with the Apple Watch. The app allows users to input temperature data manually or through a wearable device, helping them track fertility. The Apple Watch follows the Oura smart ring as the second FDA-cleared wearable device in this category.

Protein Therapeutics: Generate:Biomedicines, a company that uses machine learning to develop novel protein-based drugs, has secured $273 million in a series C funding round.

Robosurgery: Vicarious Surgical, a surgical robotics company, has signed a strategic agreement with Intermountain Health to research and develop new treatment options for robotic surgery. The collaboration aims to enhance clinical outcomes and cost-effectiveness.

AI: Denmark-based Corti has raised $60 million in a series B funding round co-led by Prosus Ventures and Atomico. The company offers an “AI co-pilot for healthcare interactions.”

Digestive Health: Vivante Health has raised $31 million in a series B funding round led by Mercato Partners. The company provides a virtual care program to help patients manage chronic digestive conditions.

Home Health: Inbound Health has raised $30 million in a series B funding round led by HealthQuest Capital. The company’s technology enables health systems and health plans to offer in-home care.

2024 Breakthrough Prizes Announced: Cystic Fibrosis Pioneers Awarded $3 Million

Researchers at Vertex Pharmaceuticals were recognized for their groundbreaking contributions to the treatment of cystic fibrosis. Along with other researchers in biology, physics, and mathematics, they were awarded a total of $3 million in prize money.

Read more here.

Other Healthcare News

Planned Parenthood clinics in Wisconsin have resumed providing abortion services after a more than a year hiatus due to a state court ruling.

Neuralink, Elon Musk’s brain-computer interface company, is recruiting participants for its first human clinical trial.

Health officials in India are working to track and contain an outbreak of the zoonotic Nipah virus, which can spread between animals and humans.

A new study suggests that artificial sweeteners may increase the risk of developing depression.

After public pressure from health nonprofits, drugmaker Danaher has agreed to reduce the cost of its tuberculosis tests.

The FDA has rejected ARS Pharmaceutical’s nasal spray alternative to injectors like EpiPen for treating severe allergic reactions.

Across Forbes

The Pentagon is allocating millions of dollars to develop a specialized language for drones, known as Droidish.

Elon Musk’s upcoming Cybertruck faces uncertainties over its market reception despite its impressive features.

AI technology is aiding financial fraud by making it harder to detect and prevent.

What Else We are Reading

“How Do You Spell Relief?” – The American Prospect

“TikTok’s hidden ‘Ozempic economy’ where weight loss influencers trade referrals for drug discounts and cash” – Fortune

“Social Security Overpays Billions to People, Many on Disability. Then It Demands the Money Back.” – KFF Health News