Morning Briefing
Summaries of health policy coverage from major news organizations
Truveta Says It Will Create Huge Archive Of Patients' Genetic Data
Stat: Truveta Joins Drugmakers To Launch Massive Genomic Database
Health data company Truveta said Monday it’s partnering with health systems and drugmakers to launch the Truveta Genome Project, a database of genetic data that is expected to accelerate personalized medicine and help discover new drugs. Truveta plans to use leftover biospecimens from patients — after they consent — receiving routine health care at participating health systems to create the database. (Trang, 1/13)
In other pharmaceutical, biotech, and AI developments —
AP: Elon Musk Says A Third Patient Got A Neuralink Brain Implant. The Work Is Part Of A Booming Field
Elon Musk said a third person has received an implant from his brain-computer interface company Neuralink, one of many groups working to connect the nervous system to machines. “We’ve got ... three humans with Neuralinks and all are working well,” he said during a wide-ranging interview at a Las Vegas event streamed on his social media platform X. ... Musk also said Neuralink hopes to implant the experimental devices in 20 to 30 more people this year. (Ungar, 1/13)
Axios: J&J Strikes $14.6 Billion Deal For Intra-Cellular Therapies
Johnson & Johnson on Monday said that it's agreed to acquire CNS biotech Intra-Cellular Therapies for $14.6 billion in cash, or $132 per share. This would be the largest biotech merger since 2023, nearly tripling the size of last year's record-holder (Vertex/Alpine Immune). (Primack, 1/13)
Bloomberg: Bayer To Scale Back Pharmaceutical M&A Amid Push To Pay Down Debt
Bayer AG plans to push pause on some of its pharmaceutical dealmaking, focusing instead on reducing the high debt load the company still faces after its $63 billion acquisition of Monsanto. The company won’t seek pharma and biotech deals toward the top end of a target range of €1 billion to €5 billion ($1 billion to $5 billion), head of pharmaceuticals Stefan Oelrich said in an interview on Monday on the sidelines of the JPMorgan Healthcare Conference in San Francisco. That marks a reversal of comments he made at the same meeting a year ago. Bayer now has built the drug pipeline it needs to grow in the next five to seven years, he said. (Kresge and Wind, 1/13)
Bloomberg: Nvidia Unveils Tie-Ups With Illumina, Mayo Clinic In AI Health Push
Nvidia Corp. announced tie-ups with Illumina Inc., the Mayo Clinic and other health-care organizations as part of its push to encourage the adoption of artificial intelligence by that industry. Illumina, a gene sequencing company, will adopt Nvidia’s generative AI platform for chemistry and biology, the world’s largest chipmaker said Monday in a statement. The Mayo Clinic is deploying Nvidia’s latest hardware and some of its software to improve digital pathology, the company said. (King, 1/13)
Modern Healthcare: General Catalyst, Amazon Web Services Form Partnership
Venture capital firm General Catalyst and Amazon Web Services, a subsidiary of the big tech company, are joining forces to develop artificial intelligence applications in healthcare. As part of the collaboration, General Catalyst said it has selected AWS as its cloud vendor of choice. The two companies will co-develop and deploy AI solutions with General Catalyst’s portfolio companies and its health system partners. (Perna, 1/13)
Modern Healthcare: Qventus Lands $105M In Funding From KKR, Bessemer, HonorHealth
Qventus is receiving $105 million in a Series D funding round as the interest in healthcare artificial intelligence reaches a fever pitch. The round was led by global investment firm KKR and venture capital firm Bessemer Venture Partners. Health systems Northwestern Medicine, HonorHealth and Allina Health also participated. (Perna, 1/13)
Modern Healthcare: Digital Health Investments, Funding Fell In 2024: Rock Health
Investments into digital health companies fell in 2024, according to new data from venture capital and research firm Rock Health. Digital health venture capital funding dropped from $10.8 billion in 2023 to $10.1 billion in 2024 marking the third straight year with a decline, according to Rock Health's report, which published Monday. There were 497 funding deals across digital health in 2024, which was a slight decline from the 503 deals signed in 2023. (Turner, 1/13)
