Digital health news, funding roundup in the prior week; November 1, 2021

Kristin Karaoglu · November 1, 2021 · Short URL:

Cigna will launch its own virtual-first health plan; Fintech’s role in the healthcare revolution

After UnitedHealthcare and Aetna announced plans to launch virtual primary care plans, Cigna is rolling out its own with select employers. The move comes after Cigna acquired MDLive earlier this year. Read more

Smoking cessation platform Carrot is reducing tobacco use by 50%, and saving users over $1,000. The company combines a sensor, an app, and human coaching to help people reduce their smoking habit. Read more

Clinical decision support guidance tops FDA’s agenda for 2022. At the top of the Food and Drug Administration’s agenda for the next 12 months: clarifying the rules for AI in healthcare. The FDA’s Center for Devices and Radiological Health (CDRH) recently shared a list of proposed guidances it plans to publish in fiscal year 2022.  Read more

Fintech’s growing role in the healthcare revolution. The quest to provide more affordable and accessible healthcare, magnified by the COVID-19 pandemic, has spurred an explosion of innovation, which in turn has attracted massive amounts of capital. To put this into perspective, consider this: In 2019, digital health saw $7.7 billion in VC investment, and that number rose to $14.6 billion in 2020. However, the first half of 2021 alone saw $14.7 billion in VC investment. Read more

Xilio, Ventyx IPOs raise $269M to fuel plans to compete with big pharma drugs. Cancer drug developer Xilio Therapeutics and Ventyx Biosciences, a company with drug candidates in cancer and autoimmune diseases, are the latest life science companies to go public. They’ll use proceeds from their respective IPOs to continue clinical development of drugs being positioned as competitors to drugs from big pharmaceutical companies. Read more

ReCode Therapeutics: ReCode Therapeutics is a Dallas,Texas based genetic medicines company developing targeted, disease-modifying therapies for life-limiting respiratory diseases. ReCode Therapeutics gets $80M to deliver on new RNA therapies for the lungs Read more

Hinge Health: Hinge Health is a San Francisco-based company whose platform for chronic joint and back pain combines wearable sensors, an app, and health coaching to remotely deliver physical therapy. Hinge Health has raised $400 million in Series E funding at a $6.2 billion valuation co-led by Tiger Global and Coatue. Read more

Cardurion Pharma: Cardurion Pharma is a Boston-based biotech that's developing new therapeutics for the treatment of heart failure and cardiovascular diseases. Cardurion Pharma has raised $300 million from Bain Capital, Bain Life Sciences and earlier investors Takeda Pharma and Polaris Partners.Read more

Truepill: Truepill is a San Mateo, Ca.-based digital health platform connecting telehealth, diagnostics, and pharmacy services. Truepill has raised $142 million in Series D funding, with participation from earlier backers Initialized Capital and TI Platform Management. Read more 

FemTec Health: FemTec Health is a Houston-based women’s healthcare data analytics platform. FemTec Health has raised $38 million from Longmont Capital, Ithaca LifeSciences, Unilever Ventures, Estee Lauder, Shiseido, e.Ventures, Viking Global and Trinity Capital. Read more  

Workit Health: Workit Health is an Ann Arbor, Mi.-based company that treats substance abuse virtually through online individual, group therapy, and medication-assisted treatment. Workit Health has raised $90 million in Series C equity funding, plus another $28 million in debt funding. Insight Partners led the equity round, joined by CVS Health Ventures, FirstMark Capital, BCBS Venture Fund and 3L Capital. Read more

Magnus Medical: Magnus Medical is a Burlingame, Ca.-based developer of neurostimulation devices for severe depression. Magnus Medical has raised $25 million in Series A funding co-led by Jazz Venture Partners and Red Tree VC. Read more

Cedilla Therapeutics: Cedilla Therapeutics is a Cambridge, Ma.-based oncology biotech that was originally launched by Third Rock Ventures. Cedilla Therapeutics raised raised $25 million in extended Series B funding that brings the round total to $83 million. Read more 

NeuraLight: NeuraLight uses a simple smartphone or web camera to accelerate clinical trials and drug development for neurological conditions. NeuraLight has raised $5.5M to measure neurological conditions with a smartphone. Investors in the seed funding round included MSAD, Kli, Tuesday, Operator Partners, GFC, and VSC Ventures, as well angel investors that include the founders of Clover Health, Flatiron Health and the co-Founder and CEO of Immunai.  Read more

Podcasts published last week:

Sam Holliday, CEO of Oshi Health on VatorNews podcast. New tech to diagnose and treat GI (gut) disorders, a condition impacting 60-70 million Americans. Listen

Max Chafkin author of The Contrarian: Peter Thiel and Silicon Valley's Pursuit of Power on Vatornews. A profile of a Christian through the eyes of the world. Listen

Nomad Health co-founder and CEO Alexi Nazem on VatorNews podcast. Nomad Health is an online marketplace for healthcare jobs. Listen

Cognetivity CEO Dr Sina Habibi on VatorNews podcast. Testing the brain's processing power vs memory is the key to screening Alzheimer's. Listen

If you are interested in being included in our funding roundup, submit your press release or blog post about your financing round to If you want a longer write-up, please do give us a couple of days heads up. If you'd like to be included in our Today's Entrepreneur column, please send me your Vator profile.

Image by mohamed Hassan from Pixabay 

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Kristin Karaoglu

Woman of many skills: Database System Engineer; SplashX event producer; Author of Startup Teams

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