Portfolio News

Koneksa Completes $16M Series B Financing to Expand Digital Biomarker Platform

Koneksa, a company that develops and implements patient-centric digital biomarkers for drug development, has closed a $16 million Series B financing round. The funds will be used to expand the development of Koneksa’s digital platform for integrating wearables, sensors, and other patient-facing technologies into clinical research. The round was led by Spring Mountain Capital, with new investors McKesson Ventures, Novartis Pharma AG, and MBX Capital. The company’s existing investors also participated in the round. Since its 2015 launch, Koneksa has partnered with pharmaceutical and biotech companies to...

Illumina to Acquire GRAIL to Launch New Era of Cancer Detection

GRAIL and Illumina have entered into a definitive agreement under which Illumina will acquire GRAIL for cash and stock consideration of $8 billion upon closing of the transaction. In addition, GRAIL stockholders will receive future payments representing a tiered single-digit percentage of certain GRAIL-related revenues. The agreement has been approved by the Boards of Directors of both companies. “Over the last four years, GRAIL’s talented team has made exceptional progress in developing the technology and clinical data required to launch the Galleri™ multi-cancer screening test. Galleri...

Matternet Expands Operations to Asia Through Drone Delivery Partnership with Japan Airlines

Matternet is expanding its operations to Asia through a new business partnership with Japan Airlines. The partnership will deploy the Matternet M2 drone system in Tokyo Metropolitan Government’s new drone logistics business development project and utilize the system to assess drone delivery opportunities in Japan. Through proof-of-concept trials, Japan Airlines will accumulate flight experience on Matternet’s urban drone delivery platform and work with Matternet to develop the future of the partnership’s drone delivery business. “We are very excited to expand our operations to Asia and partner with...

Companies are grappling with how to support tired, anxious workers. Startups that say they can help

As Americans’ mental health suffers in the wake of the coronavirus pandemic, startups addressing mental health issues are doing very well. A survey by the CDC found that 39 percent of respondents living in the U.S. showed signs of anxiety or depression during the first week of July, a 400 percent increase since this time last year. Another survey by mental health startup Lyra Health and the National Alliance of Healthcare Purchaser Coalitions indicated that more than 80 percent of its respondents said they experienced mental...

Men’s wellness startup Hims rolls out telepsychiatry

Once upon a time, Hims was just another men’s wellness company offering hair loss and ED treatments, mail-order supplements, and other health tools. But with the onset of the COVID-19 pandemic, the company accelerated its plans to launch virtual primary care and mental health care. In April, Hims began offering anonymous group therapy sessions through its website. Now the company is expanding its mental health care options again. It has added telehealth psychiatry consultation, starting with patients in New York and California and expanding to other...