Adam Fisher

Some great advice in this interview — featuring Jeffry Weinhuff of Visionary Ventures — relevant to all sub-sectors of #medtech. My favorite line is “investment capital is not tuition.” 😂 But the best advice stems from the insight that good exits via IPO or M&A processes with multiple buyers competing for your company require that most medtech companies must prove their value via strong commercial metrics. And doing that takes a lot of time, expertise and money. Plan, hire and raise capital accordingly. At Vensana Capital, our investment process centers on a deep analysis of every aspect of getting a breakthrough medtech innovation to market, no matter what stage of development a company is at today. We like entrepreneurs who believe their innovation can be highly impactful to patients. We love the ones who want to leave no doubt. https://lnkd.in/eDsUqgn6

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As I said right at the start of this week's The Heart of Healthcare Podcast, Shivdev Rao is one of the most exceptional founders I have ever worked with. He is also a great human being. In this week's episode he shares what is it like leading the 🚀 that is Abridge and some awesome life lessons. IMHO this is a great listen for founders building in both the AI and healthcare fields!

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Discover 10 big pharma and biotech companies that have spun out their own venture capital arms to invest in startups in the industry. #venturecapital #veteranventures

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Interesting report from PitchBook on first quarter Digital Health VC activity. - $1.1 billion in funding. Key late-stage deals were led by Transcarent ($126M) and Rightway ($108.8M). - The top investment categories were general & primary care ($213.4M) and health benefits navigation ($140.7M). Challenges & Trends: Valuations: Less than 20% of startups reported a priced round in the last 18 months, with an increase in extension/bridge rounds. Digital Therapeutics: Facing significant challenges due to elusive reimbursement and cautious investors. Better Therapeutics is winding down operations, and Akili is being taken private for $34M, a sharp decline from its peak valuation of nearly $450M. Telehealth: Setbacks include the shutdown of Optum's virtual care and Walmart's telehealth services. The pandemic saw over $15B in VC funding since 2020, but some platforms struggled with unsustainable business models and strategic missteps (e.g., Teladoc's costly Livongo acquisition and Amwell's delisting from Nasdaq). Looking Ahead: While digital therapeutics and telehealth face hurdles, there's potential in: Platforms integrating various treatments for conditions like diabetes, metabolic health, and mental health. Specialty telemedicine, B2B platforms, and hybrid-care models, which offer a promising investment outlook. Despite current challenges, strategic investments and a focus on sustainable models can drive the next wave of innovation in digital health. As a former digital health founder, I encourage founders in this space to keep going...there is light at the end of the tunnel! If you are a digital health founder with impressive traction based in Virginia, feel free to reach out! #digitalhealth #venturecapital #virginiaipc #virginiainvests

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🎙️Excited to share my recent conversation on "The Business of HLTH" podcast where we delve into the dynamic intersection of finance and #lifesciences. As a #CFO dedicated to advancing the industry, I discuss the nuances of venture investing, M&A, and strategic financial planning that can propel life sciences organizations forward. 🔗Tune in to gain insights into how we at Tialma provide tailored CFO solutions that not only manage but enhance the financial and operational aspects of life sciences companies, ultimately maximizing shareholder value. Whether you're involved in biotech, medtech, or looking to understand the financial intricacies of the industry, this episode offers valuable perspectives. 👉Listen to the episode here: https://lnkd.in/e6Yx8swQ Feel free to connect and discuss how strategic financial leadership can make a measurable impact in the life sciences sector.

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Summary: The article discusses the current venture firm fundraising market and the success of emerging VC firm A* in raising $315 million for its oversubscribed Fund II. It highlights the firm's focus on early-stage investments and its experienced founding partners. Key takeaways: Venture firms raised $9.3 billion in Q1 and it is unlikely that 2023's record-breaking total of $81.8 billion will be surpassed. A* has been successful in fundraising due to its focus on seed rounds and backing breakout companies in its portfolio. The firm's founding partners have a strong track record and diverse experience in different industries. Counter arguments: The article mentions that emerging managers are feeling the frost in the fundraising market, suggesting that not all emerging VCs may be as successful as A*. While A* has found success in raising institutional investors for Fund II, this may not be the case for all emerging VCs. #venturecapital #vc #fundraising #startups #innovation

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Is private equity owned healthcare a positive or a negative in regard to real health outcomes for patients? I asked Ambar Bhattacharyya of Maverick Ventures this question and more on Episode 438 of The Full Ratchet. Tune into the show to catch our discussion.

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Abby Levy talks about venture's role in US healthcare and what we can expect to see as technology impacts the space on TFR. Check out the rest of the conversation with Abby & Alan Patricof of Primetime Partners on Episode 433.

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Southeast VC Update: Q2 2024 PitchBook Venture Monitor Highlights The Southeast continues to hold its position in the VC regional landscape #5 in dollars raised for Q2 2024 🥉 #3 in deal count (just behind the West Coast and the Mid-Atlantic) H1 2024 Southeast Breakdown:  📊 10% more deals than Northeast  📈 30% more deals than Mountain region, 20% more than South  💰 5% more dollars raised than Mountain region  💸 23.5% more dollars raised than South YoY Funding Trends:  📈 Southeast: Up 29% 📈 Mid-Atlantic: Up 136%  📉 Midwest: Down 67%  📉 New England: Down 11%  📈 West Coast: Up 59% Key Trend: While closing in on Mid-Atlantic numbers, we are seeing more deals but smaller rounds. This could indicate strong activity occurring in the seed & early-stage funding, despite the macro challenges. (Pitchbook classifies the Southeast as AL, FL, GA, KY, MS, NC, SC, TN, Puerto Rico, & Virgin Islands) #BuildInSE

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Startup founders, you don't have to do it alone! Apply now to join the Techstars Boston Accelerator and gain access to our extensive network! We are looking to select 12 high-growth startups to participate in our 13-week Techstars Boston accelerator program kicking off in September -- apply now or tag a founder below who you think might be a good fit!  https://lnkd.in/gbi3hAGi #startups #founders #entrepreneurs #boston 

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the KdT podcast is back to unpack the first biotech IPO of 2024 - CG Oncology. in The World in a Grain of Sand, we break down an S1 from a recent biotech IPO and share insights on the science, business models, and financials. in this episode, Cain McClary, MD and Phil Grayeski discuss CG Oncology, and dive into: - the various subtypes of bladder cancer, and one of the most unique standard of care treatment paradigms in oncology, which utilizes a live attenuated virus to treat the disease - supply chain and manufacturing issues that have limited access to SoC therapy in bladder cancer - CG Oncology’s lead (and only) asset, an oncolytic immunotherapy which has delivered impressive complete response data in bladder cancer - challenges and open questions around complex manufacturing, clinical and commercial adoption, and competition for CG’s product - bull vs bear case for the company link to the full episode in the comments.

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👩‍⚕️ Physician Lounge {Healthcare M&A} | Does PE really play an outsized role in healthcare services? 👇 📰 Private equity's involvement in healthcare has been a trending news item lately, and one I've posted about in the context of healthcare M&A. It's worth asking, "Does PE really play a large role in healthcare services?" or do high-profile failures (like the Steward situation) overstate PE's involvement? ▶ According to a recent PitchBook report, the latter may be the case: 🍎 PE-sponsored provider organizations account for only 4% of healthcare services revenue. 🍏 YOY growth in the total number of PE-backed practices has slowed from it's height in 2018, and that growth was <1% in 1Q2024. 🍎 Over 75% of all physicians in the US are employees rather than owners. Of those, 71% are hospital employed and 29% are employed by corporate entities such as PE-back practices and strategics. Of that 29% - some 23% of all physicians - it's hard to discern the percentage employed by PE-sponsored practices, but it is fair to say that it's a non-de minimis number, a point the PitchBook report fails to emphasize. {Many new-grad physicians choose employment due to existing student loan debt load and for work-life balance.} 🍏 The goal of most practice acquisitions is inorganic growth for multiple arbitrage, not consolidation followed by price increases. 💭 So, is PE a minor player in healthcare? Maybe or at least versus popular perception. That said, a significant proportion of physicians is employed by PE-backed practices and PE practices indubitably influence the operations of strategic- and physician-owned practices through competition. 👵 Regardless, PE remains one of the most viable avenues for retiring physicians to realize value from their practices at a time when many young doctors simply don't want to be owners.

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This article by the WSJ is critically important for public health officials and HealthTech entrepreneurs to internalize. We need multiple solutions for patients to move towards post GLP-1 usage. These solutions need to be easy to implement, non-disruptive to daily life and focused on caloric restriction , lifestyle change and muscle gain. Too many startups are still focused on GLP-1 prescription and delivery. Not enough people focused on the next stage of the weight management journey. As the Journal states, the benefits of the GLP-1 craze are only going to be successful long term if the transition off of them is successful. Otherwise, we risk unforeseen, long term consequences to a large group of patients stuck on GLP-1's with no healthy way to transition off. https://lnkd.in/dYBd3HaN Meghan FitzGerald James Stearns Dominic Perks John LaMattina Raju Kucherlapati

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This week Mikal Ventures brings you a 2-week breakdown of the US capital market with an emphasis on the Mikal verticals. Over the 2-week period ending May 13, 450 new companies were added, with just under 95,000 companies included in the US Health Tech, Med Tech, Fin Tech, AI Tech, and Ed Tech verticals. AI Tech again saw the greatest percentage of growth in new companies and transactions, weighing in at over double the vertical averages for the period. The US Med Tech vertical led the way in SEC Filings, with Fin Tech leading in news articles. Mikal Ventures publishes these stats to provide a perspective on how the verticals and new startups move through time. We hope you find them informative and thought-provoking. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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Our partner Eddie Eltoukhy has identified these opportunities in Biotech. Eddie has a PhD in bioengineering from Massachusetts Institute of Technology and over a decade experience as an operator. Reach out to him if you are working on these areas of biotech. Pear VC - Technology-Driven Therapeutic Platforms Companies developing therapeutic assets with a core product engine Proprietary tool, workflow, or samples leading to novel biological data sets Preference for omics platforms or high throughput screening / engineering workflows First-in-class or best-in-class drugs - Next-Generation Therapeutic Modalities Technologies to improve the efficacy, safety, access, or reach of next-gen modalities including the following: Genomic medicines (gene tx & gene editing) Cell therapies Targeted protein degraders Antibody-drug conjugates Radiopharma - Precision Medicine New technologies supporting the discovery of novel biomarkers and the generation of proprietary data sets for applications in: Disease screening Therapy selection Recurrence monitoring - Life Sciences + AI Software Platforms Software & AI-driven platforms to improve all aspects of life sciences R&D, including: Target discovery and validation Drug design and optimization Manufacturing Regulatory Clinical development

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🧬 This week's Austin Bio & Health Roundup features nearly $200M in funding & new capital, M&A, more infrastructure coming, & hopefully an opening of the Texas Bio & Health IPO window🧬 💰 Funding Function Health has closed its Series A, securing $53M in total funding. Function’s platform offers 100+ tests for $499 per year, focusing on prevention and empowerment. The round was led by a16z Bio + Health and includes several celebrity investors. Congrats to Mark Hyman, MD, Pranitha Patil, Jonathan Swerdlin, Mike Nemke, Seth Weisfeld, and Dan Swerdlin. Sensi.AI raised a $31M Series B led by Insight Partners and Zeev Ventures to enhance its 24/7 monitoring technology for seniors and home care. Way to go Romi Gubes and the entire team! Ironspring Ventures raised $100M for their second fund, focusing on “manufacturing, construction, transportation, and energy.” Exciting times for Ty Findley, Adam Bridgman, Peter J. Holt, and the expanding Ironspring team! Now, why include this in a Bio & Health newsletter? I believe there will be a value migration from drugs, devices, and diagnostics to the bio innovation tech stack itself. One key area of that stack is biomanufacturing. As new modalities like cell and gene therapy rise, the challenge of scaling these therapies presents a significant opportunity for innovation. While as far as I know Ironspring hasn't invested in this subsector yet, I look forward to seeing what they do with Fund 2. 🤝 M&A and Partnerships Significo, a software development that builds healthcare apps and solutions, acquired Bunch, an AI leadership coach app. Congrats to Rick McCartney and team! 🚀Launches, Expansions, and Milestones BrainCheck, a cognitive assessment software platform, announced their adoption by the Physicians Hearing Network (PHN), bringing insights to 270 members across 12 states.  Keep up the momentum Kim Rodriguez and team! 🏗️ Infrastructure Texas State University is partnering with Concept Companies to build a life sciences incubator at their round rock campus. The incubator will have labs, offices, admin support, and collaboration spaces. The teams hope to complete construction by the end of 2025. DES Architects + Engineers opened a new office in Austin, aiming to bring their expertise to the city’s burgeoning life science market. Welcome Kevin D. Norman, Tracy Wong, and the rest of the DES team! 🚩 Texas Bio Triangle Fort Worth-based biopharma company Actuate Therapeutics, Inc. is preparing for an IPO, targeting a raise of about $50M. What’s Next? #AustinNext #LifeSciences #Healthcare #Biotechnology

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Healthcare Innovation and Investment News for the week from HDIG HDIG Search, Consulting and Venture HDIG is an ecosystem with a searchable database of hospital healthcare venture, innovation centers, tech transfer offices and their portfolio companies. It would assist you in understanding the landscape of partnerships, performance, and contacts. Early-stage companies use it to find partners and funding for their pilots, or even professional firms or tech companies depending on their needs. Launched this year with nearly 10,000 companies, hospitals, and funds, get full access for a special monthly subscription of only $100 and you can cancel at anytime, this would include building your profile. Learn more about our Acceleration Pilot Program, paid pilots, reverse studio model and other research and services. #HDIG #HealthcareInnovation #HealthcareVenture #HospitalInnovation

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🚀 Here's to continued growth and success in the VC world! 🚀 You might remember the buzz about the SEC aiming to ramp up reporting and auditing for VC funds to increase oversight. Well, great news for the industry – the SEC's rule has been overturned. The U.S. Appeals Court has decided to lift the additional oversight on private equity and hedge funds, marking a significant win for venture capital and private equity. This decision helps us maintain the flexibility and innovation that drive our success. Read more about this pivotal decision here: #VentureCapital #PrivateEquity #FinanceNews #Victory #VC #VentureCapitalist #SecuritiesandExchange #SEC https://lnkd.in/ev6NeayV

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Deals Roundup - 7/15/2024 Private Markets 💰 Element Biosciences announced a $277 million in Series D investment, bringing total fundraising to $680 million. Backers include Foresite Capital, Venrock, RA Capital Management, Fusion Fund, and new investors Samsung Electronics and Wellington Management 💰 Aspect Biosystems received a $73 million investment from the Governments of Canada and British Columbia for a $200 million project to advance its biomanufacturing capabilities and pipeline of bioprinted tissue therapeutics 💰 Immuneel Therapeutics Pvt. Ltd. Therapeutics, a Bengaluru-based biotech startup focused on cancer, raised ~$12 million in an extended Series A round led by Taiba Middle East. This brings its total raise to $40 million. The company, founded by Kiran Mazumdar Shaw, Siddhartha Mukherjee, & Kush Parwar, is developing cell and gene therapies for cancer patients, including CAR-T therapies M&A 💼 Merck completed the acquisition of Eyebiotech Limited, a privately held ophthalmology-focused biotech company. Merck will record a charge of approximately $1.3 billion in Q3 2024 💼 Acorda Therapeutics, Inc. entered into an asset purchase agreement with Merz Therapeutics to sell substantially all of its assets, including rights to INBRIJA, AMPYRA, and FAMPYRA, for $185 million. Acorda filed voluntary Chapter 11 proceedings to facilitate the sale process IPO / SPAC  📈 Artiva Biotherapeutics seeks about $116 million in net proceeds from its proposed IPO to grow its early-stage pipeline of off-the-shelf cell therapies for lupus, B cell malignancies, solid tumors, and other blood cancers. The company was previously backed by GC LabCells, 5AM Ventures, venBio, and RA Capital Management and raised $120 million in a Series B in February 2021 📈 The blank-check companies Launch One Acquisition and SIM Acquisition went public last week under the ticker $LPAAU in a $200 million IPO, aiming to bankroll a combination with a healthcare or life sciences company. Ryan Gilbert, the chair, has been involved with other SPACs, bringing CERo Therapeutics, Inc., eFFECTOR Therapeutics, Inc., and Psyence Biomedical Ltd to the public markets 📈 SIM Acquisition also went public on Nasdaq ($SIMAU) in a $230 million IPO to acquire a healthcare company. It’s led by Erich Spangenberg, founder and former CEO of IPwe, an IP financial technology company undergoing Chapter 7 bankruptcy 🇮🇳 India's Emcure Pharmaceuticals Limited drew strong interest for its $234 million IPO, driven by its slate of women's healthcare and HIV treatments. The Bain Capital-backed company's IPO was fully subscribed on the first day and received bids worth up to 937 billion rupees ($11 billion), nearly 68 times the amount on offer. Institutional buyers bid for 196 times the shares on offer, while retail investors bid for seven times their reserved shares For more updates on the Life Sciences market including financings, job openings, and market insights please follow Liam Killingstad

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