InnovationRx is your weekly digest of health news. To receive it in your inbox, subscribe here.
THEyra Health, a startup that provides mental health benefits to large employers, was not yet a unicorn when it appeared on the Forbes Next Billion Dollar Startup list last year. Fast forward a year and three rounds of funding later and Lyra is now valued at $ 4.6 billion. The short answer for business success? It is difficult to get good mental health care, even with insurance. Lyra fills this gap by organizing a network of virtual and in-person mental health care providers, as well as a virtual platform that aims to help people get better faster through evidence-based methods such as cognitive behavioral therapy. Lyra is now looking to significantly expand its offerings globally after the pandemic.
Soaring rates of anxiety and depression helped boost the stock market debut of Lifestance Health Group, one of the nation’s largest outpatient mental health care providers. The Scottsdale, Arizona-based company began trading above its initial asking price of $ 20 per share, which valued the company at $ 7.5 billion. Since then, the stock has steadily increased and exceeds $ 26 per share.
PS Do you think your business has what it takes to be the next Lyra? Nominations are open for the 2021 Next Billion Dollar Startup list in partnership with TrueBridge Capital Partners. Companies must be US-based, privately owned, and funded by companies with current valuations below $ 1 billion. Apply here.
This start-up has just raised $ 15 million to help people afford their drugs
Semper Health uses behavioral economics to trick patients into remembering to refill their prescriptions by offering a discount for timely refills. When people do not take their medications, it is estimated that the complications and resulting hospitalizations cost the system more than $ 100 billion each year. Semper, who raised $ 15 million in a Series B round this week, is working with his health insurance clients who decide which drugs they want to offer discounts on. The startup is sending reminders and urging patients to take action. For example, a typical text message might say, “If you pick up your meds this week you will pay $ 10, if you wait until next week it could come back to $ 20.” »Read more here.
Start Biomeçon, which has developed a way to grow cement bricks and tiles with bacteria to replace traditional cement, will be on the floors of H&M Group stores in 2022.
Nautilus Biotechnology, which was released to the public via a SPAC this week, has developed a protein analysis platform to accelerate new drug development.
Six percent of Europeans surveyed by International Transparency reported paying a bribe to access a clinic or public hospital in the past 12 months, with the highest rates in Romania and Bulgaria.
AAs July 4 approaches, it seems unlikely that America as a whole will meet President Joe BIden’s goal of vaccinating 70% of adults with at least one Covid-19 vaccine. At the current rate of vaccination, it appears that about 68% of U.S. adults will be vaccinated by the target date – although some states weigh more than others. Fourteen states have already exceeded the 70% target, with some states going above in terms of adult immunizations. Vermont, Massachusetts and Hawaii are leading the charge, with each state having partially or fully immunized at least 80% of eligible adults. To end the pandemic completely, however, it is not just adults who need to be vaccinated. A large number of children and adolescents will need to be vaccinated in the coming months, but it is not known how many of them will receive the vaccine. A new poll recently found that a quarter of American parents say they will not let their child get the Covid-19 vaccine, and 10% of parents will only let their child receive one dose of the vaccine, which makes them particularly vulnerable to Covid. variants. According to the CDC, so far only 26% of children between the ages of 12 and 15 have received at least one dose of the vaccine.
Regeneron antibody helps hospital patients
New data from Regeneron shows that its antibody therapy can help treat hospital patients who do not develop a natural immune response to Covid-19 – a potentially crucial lifeline for immunocompromised patients. Read more here.
More news on the coronavirus
Governor of Florida Ron DeSantis officially pardoned anyone sanctioned for violating Covid health guidelines.
A new report has revealed that Latino workers were forced out of the workforce during the pandemic more than any other demographic.
Royal Caribbean delays the inaugural cruise of a new ship after eight crew members tested positive for Covid-19.
New data shows that rents for single-family homes are now higher than before the pandemic.
This startup’s new radar installation will help protect the ISS and satellites from space debris
Waymo raises $ 2.5 billion from investors willing to wait for a self-sustaining future
WhatsApp’s fight with Indian government over data privacy rules could have global repercussions
What else we read
In so-called ‘money-taking’ from healthcare, nation’s largest hospital chain takes advantage of trauma centers (Kaiser Health News)
Medical debt charity to buy and wipe out $ 278 million in patients’ hospital bills (The Wall Street Journal)
Cano Health, backed by Sternlicht, to acquire University Health (Bloomberg)