MedCity News
Evox has big pharma partners. Now it has $95M to bring its own drugs to the clinic
In the past year, Evox Therapeutics has inked alliances with two big pharma companies. The Series C financing now positions the biotech to advance to the clinic with its own exosome-based therapies.
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Cells in the body share material via tiny vesicles that shuttle between them, carrying molecular payloads from one cell to another. Evox Therapeutics is developing medicines that leverage this mechanism as way of accessing cells and tissues that are beyond the reach of current drug technologies.
The biotech has research partnerships with two large pharmaceutical companies. Now it has $95.4 million to advance into clinical testing with several rare disease drug candidates. Redmile Group led the Series C round of funding.
MedCity News
Will IBM’s reported desire to sell Watson cast a shadow over big tech’s healthcare ambitions?
IBM is reportedly looking to sell its Watson Health business. If true, it would be another stumble in a much-hyped healthcare project by a technology company.
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When IBM first launched its Watson Health unit in 2015, it had to live up to a grandiose vision. The company’s AI creation, popularized by its win on Jeopardy!, was pitched to oncologists as a tool that could comb through medical literature and cancer patients’ health records, detecting patterns that they could not.
Reports later found that it fell short of those claims, and in some cases, offered ‘unsafe and incorrect’ suggestions. Now, IBM might be considering selling its Watson Health unit, as it focuses more on its cloud computing business, according to the Wall Street Journal. Citing anonymous sources, the Journal reported the health unit brought in $1 billion in revenue and isn’t currentl
After Everlywell received an emergency use authorization last year from the FDA for its at-home collection kit, the agency gave Everlywell the green light to sell its test kits without requiring a prescription.
MedCity News
Cerner, Philips invest in Carevive Systems’ oversubscribed $18M equity round
The health technology company will use the investment to deploy its cancer care management platform and remote monitoring program at more health systems and to advance its research capabilities. Philips Health Technology Ventures led the equity round, and Cerner was a returning investor.
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Carevive Systems, an oncology-focused health technology company, has raised $18 million in an oversubscribed Series C equity round.
The round, led by Philips Health Technology Ventures, includes Debiopharm Innovation Fund, Qure Ventures, and prior investors, like Cerner and LRVHealth. The company surpassed its initial goal of $10 million, closing at $18 million, a testament to the excitement surrounding the company’s platform and mission, said Madelyn Trupkin Herzfeld, co-founder of Carevive Systems, in an email.
With a number of testing or vaccine pass apps being developed, Apple said it will only accept ones that are being developed in conjunction with test kit manufacturers, laboratories, healthcare providers or other entities recognized by public health authorities.