InnovationRx: Artificial Intelligence 50; Plus Covid Treatments In India

While some industries were devastated by the Covid-19 pandemic, funding continued to flow to startups using artificial intelligence to solve business challenges. Several healthcare companies made the annual Forbes AI 50 list, which identifies some of the most promising companies in the space. Komodo Health uses algorithms to help identify patients for clinical trials and track drug effectiveness after it hits the market. Viz.ai examine CT images to try to reduce the number of stroke victims who don’t get the right treatment on time. Verge Genomics combines AI with human genome data for drug discovery, and its candidate to treat Lou Gehrig’s disease will enter clinical trials next year.

New York City has become a hotbed of digital health investment, with 64 companies raising a record venture 2.4 billion in venture funds in the first quarter of 2021, according to a new report. It took nine months last year to reach the same level of funding. While many of the companies were well capitalized before the pandemic, Covid-19 needed to scale up new solutions. Virtual care and digital pharmacy startup Ro had the largest funding round at $500 million, followed by healthcare billing startup Cedar.

Remarkable

The human health insurer said it would buy the remaining 60% of Kindred Healthcare’s home care business in an 8.8 billion settlement.

Cash-paid digital health startup Sesame raised $24 million in funding for its telehealth and in-person services.

A new report predicts that colorectal cancer will become the leading cause of cancer death in people aged 20 to 49 by 2040.

Coronavirus updates

India continues to be hit hard by a massive increase in Covid-19 cases. The country’s total death toll rose from 200,000 on Wednesday, and experts say this is probably a big understatement. The country is trying to implement covid-19 vaccines, but on the first day registration was opened for all Indians over the age of 18, the online portal was quickly blocked. Meanwhile, other countries have started sending foreign aid to help with the increase. The UK has shipped hundreds of fans and oxygen containers, and more supplies are expected to arrive soon from the US, Germany and Australia.

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