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Techcyte and Mayo Clinic collaborate to build AI algorithms for pathology platform

Key Insights and Signals – Hospital & Healthcare

Centre Setup and Expansion
Acadia Healthcare breaks ground on new Behavioral Health Hospital in Arizona
Slated to open in early 2024, the 100-bed acute care behavioral health hospital will be located on a 12-acre site at the corner of Ellsworth Road and Peterson Avenue in Mesa. Read More>>
Ochsner Health announces new Aortic Center
The Center employs new imaging technology and Cydar EV Maps, and cloud-based software that helps with aortic case planning, navigation, and review. Read More>>
Layoff
Pristyn Care lays off 350 employees
The healthcare has sacked up to 350 employees across departments and impacted employees from sales, tech, and product teams. Read More>>
Deal
CommonSpirit to boost adoption of evidence-based Medicine in Clinical Care
CommonSpirit was selected by PCORI to participate in the HSII initiative to advance evidence-based medicine and boost the adoption of research in clinical care. Read More>>
Merger and Acquisition
Atlantic Health acquires Thompson Healthcare & Sports Medicine
Atlantic Health will have majority ownership of the 11 Thompson Healthcare & Sports Medicine locations across Ocean, Monmouth, Burlington, and Atlantic counties. Read More>>
Partnerships
Techcyte, Mayo Clinic collaborate on algorithms for pathology platform
Techcyte will collaborate with Mayo Clinic to create artificial intelligence (AI) algorithms and workflows for the Techcyte Clinical Pathology AI Platform. Read More>>
Emory and Pfizer to advance the discovery of antiviral agents for COVID-19
Emory University’s Schinazi Laboratory and Pfizer will work together to identify and evaluate potential antiviral compounds for the treatment of COVID-19. Read More>>
Providence health system partners with the virtual MSK platform Luna
Providence patients will get access to outpatient physical therapy through the Luna platform and be matched to therapists based on multiple factors. Read More>>
Mass Hiring
National Health Service to recruit healthcare professionals from India
Over 100 health professionals from India are to be hired by the UK. The trust had a vacancy rate of 11.5 percent for healthcare support workers. Read More>>
Executive Movements
Alistair Erskine to serve as Chief Information and Digital Officer for Emory
Erskine will serve as a cross-functional change agent and strategic partner to create innovative digital solutions that bring value to both patients and care teams. Read More>>
Amedisys Board appoints Richard Ashworth as New President and CEO
Ashworth is a pharmacist and a highly respected and accomplished healthcare executive with expertise in driving transformational growth in healthcare. Read More>>

Key Insights and Signals in Medical Devices

Centre Setup and Expansion
Cepheid launches its first manufacturing unit in India
This launch strengthens the company’s goal of providing accessible and high-quality molecular diagnostic solutions to healthcare providers and patients in the region. Read More>>
West Pharmaceutical Services opens an R&D lab in Pennsylvania
The new R&D lab at Radnor is a direct response to West’s focus on the delivery of advanced therapy and new therapeutic experiences across containment and systems. Read More>>
Deal
Novartis, Teijin Pharma ink pact for Preclinical Candidate for Proteinuric Kidney diseases
Under the terms of the agreement, Teijin will grant Novartis exclusive rights to research, develop, and commercialize the candidate for all potential indications. Read More>>
Merger and Acquisition
Getinge acquires Ultra Clean Systems for USD 16 Mn
The addition of Ultra Clean’s expertise and technology will significantly expand Getinge’s offerings to sterile reprocessing departments in North America. Read More>>
Partnerships
Danaher partners with the University of Pennsylvania
The multi-year partnership aims to develop new technologies that will overcome manufacturing bottlenecks in the delivery of newly engineered cell products. Read More>>
Grifols partners with Selagine to develop immunoglobulin eye drops
Grifols will have exclusive commercial rights to Selagine’s treatment, which will be developed by combining Grifols’ expertise with Selagine’s clinical experience. Read More>>
Layoff
Owens & Minor lays off 61 workers in Massachusetts
The realignment would include sourcing and demand management, organization structure redesign, network rationalization, and operational excellence. Read More>>
Executive Movements
CFO Steve Reichling leaves Accelerate Diagnostics
David Patience, Senior Director – Head of Business Development and Strategic Finance, has been named as the new CFO. Read More>>
Simon Philips joins Falcons Beyond as President
As president, Simon will oversee the future growth and expansion of entertainment-based business and the development of the company’s IPs. Read More>>
Financial and Market Activity
Top Glove posts net loss of USD 36 Mn in Q2 FY2023
The company registered a net loss of USD 36 Mn in Q2 FY2023, ended February 28, 2023, compared to a net profit of USD 19.5 Mn posted in Q2 FY2022. Read More>>

Key Insights and Signals in Pharmaceutical

Centre Setup and Expansion
PCI Pharma Services expands Biologics Leadership with new CoE
The new 200,000-square-foot facility in Rockford, Illinois, will enhance the organization’s capacity in injectable drug-device combination product assembly. Read More>>
Mass Hiring
Targeting cancer, respiratory vaccines, Moderna to hire 2,000 staff
The company is preparing to hire around 2,000 employees in 2023 and open new offices on the U.S. West Coast as it boosts the development of new products. Read More>>
Deals
Glenmark and Cediprof ink exclusive distribution deal in the US for ADHD drugs
The company has entered into an agreement with Cediprof Inc for the supply and distribution of tablets used in the treatment of mental disorders. Read More>>
Merck, Opko Health sign deal for experimental Epstein
The company signed a deal with Merck & Co Inc for USD 922.5 Mn for its experimental Epstein-Barr virus vaccine. Merck will take over the clinical and regulatory activities. Read More>>
Merger and Acquisition
Sanofi to acquire Provention Bio for USD 2.9 Bn
The deal is a strategic fit for the company, and Provention’s TZIELD adds an innovative, fully owned, first-in-class therapy to its core asset portfolio in general medicine. Read More>>
Pfizer to acquire Bothell-based Seagen for USD 43 Bn
It will finance the purchase through USD 31 Bn of long-term debt and a combination of short-term financing and existing cash. The deal is expected to close late this year. Read More>>
Partnerships
Genuv teams up with Celltrion in antibody discovery deal
Clinical-stage biopharma Genuv and Celltrion will discover antibodies using the former’s Shine Mouse platform, which could potentially open more R&D projects together. Read More>>
Synaffix announces expansion of ADC collaboration with MacroGenics
MacroGenics may combine its proprietary DART technologies with Synaffix’s linker-payload technologies. This deal includes up to USD 2.2 Bn in total payments plus tiered royalties. Read More>>
Servier partners with QIAGEN to develop New mIDH1 Companion Diagnostic Test
The partnership aims to build solutions that enable customers to gain valuable molecular insights from samples and a companion diagnostic test that detects IDH1 mutations. Read More>>
Executive Movements
Ultragenyx appoints Dr. Eric Crombez as Chief Medical Officer and EVP
Dr. Crombez is replacing Camille Bedrosian, who will remain in an advisory role. Dr. Crombez currently serves as Chief medical officer for gene therapy and inborn errors of metabolism. Read More>>
Sage Therapeutics appoints Jessica Federer to the Board of Directors
Jessica is focused on digital transformation, which will be a key future growth driver for the industry. Ms. Federer will unite the company’s global digital strategy and investments. Read More>>
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Latest Industry Insights from Draup Braindesk

Draup conducted comprehensive research to identify the key attributes in the AI, Big Data, and Language Services Market for Healthcare Industry:

1. AI, Big Data, and Language Services Market Overview
  • AI in the healthcare market size would reach USD 120 Bn in 2028. Clinical Trials, Robot Assisted Surgery, and Virtual Assistants are some of the key applications. 
  • The big data in healthcare market size would reach USD 105 Bn in 2030. Predictive Analytics, Clinical Data Analytics, and Remote Clinical Services are some of the key applications. 
  • The language services market size will reach USD 119 Bn in 2030. Patents for Medical and Surgical Devices, AI-assisted Medical Device Translations, and Clinical Outcomes Assessment are some of the key applications.
2. Industry Deep-dives
  • HealthTech: Health tech companies are utilizing advanced cloud computing and AI models for Real-time Clinical Decision Support and Clinical Workflow Improvements. 
  • Pharmaceuticals: Key players across pharma aim to provide ML-based Drug Discovery & Recommendation and Clinical Trial Simulations to accelerate clinical outcomes. 
  • Medical Devices: Manufacturers strive to integrate advanced translation services by utilizing Big Data Analytics and AI/ML capabilities with IoT solutions
3. Service Framework
  • Draup analyzed some of the key language service offerings to support patients, doctors, and medical professionals converse using digitally automated language services.
4. Key Language Service Provider Analysis
  • Leading Language service providers are TransPerfect Ulatus (Crimson Interactive Subsidiary) and Lionbridge.
5. Outsourcing Analysis
  • Draup has analyzed outsourcing deals that cater to AI-related functional workloads across the leading healthcare, medical device, and pharma prospects.
6. Opportunity Propensity
  • By analyzing the application areas and initiatives taken by the leading players in the healthcare industry, Draup identified some of the key opportunity areas. These include Personalized Medicine, ML-based Drug Discovery & Recommendation, and Medical Device Translation Services.

Key Funding Alert

QurAlis raises USD 88 Mn in Sanofi-backed funding round
The company intends to use the funding to develop therapies for the life-threatening neurological disease amyotrophic lateral sclerosis that has no cure. Read More>>

Startup Spotlight

Company – Nymbl Science
Total Funding USD 19.77 Mn
About: Nymbl Science provides training that helps maintain and improve balance for a better quality of life. Nymbl is a scientifically validated digital balance training program that will prevent over 1 million falls. Read More>>

Latest Reports Published in Draup

AbbVie Inc. – Account Intelligence Report
AbbVie focuses on a health data platform that enables adults to share their health data, including medical records and fitness data, to form a complete picture of their health. Read More>>
Adventist Health Account Intelligence Report
Adventist Health focuses on robotic prostatectomy with an innovative single-port surgical robot that allows for a quicker recovery for patients. Read More>>
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