April 1, 2021
By Bio-IT World Staff
April 1, 2021 | New investment funds for late-stage companies and public health. Next-gen genomic medicines and single-cell multiomics get cash, and PatientsLikeMe raises a new round of funding to expand.
$969M Investment Fund for Early to Late-Stage Companies
Foresite Capital, a multi-stage healthcare and life sciences investment firm, has announced its fifth and largest fundraise with $969 million in capital commitments, significantly oversubscribed above its original target. The offering comprises Foresite Capital Fund V, L.P. and Foresite Capital Opportunity Fund V, L.P. With these new funds, Foresite Capital is investing in emerging healthcare and life sciences companies at all stages that are solving some of the biggest inefficiencies and pain points of the $10 trillion global healthcare market. Foresite Capital now has ~$4 billion in assets under management. Press release.
(Lia Shaked)
Health technology company Carevive which developed a platform that helps clinicians create personalized treatment plans for cancer patients won a new major backer last month.
The company banked a series C equity investment of $18 million with support from Philips Health Technology Ventures. Phillips joined prior investors HLM Venture Partners, LRVHealth, Cerner and founder Madelyn Trupkin Herzfeld in the round.
Carevive s platform allows clinicians to tailor cancer care management programs for each patient s needs, informed by real-world patient experiences and outcomes, not just clinical data. Its remote symptom management system means patients need to take fewer trips to health centers. And Carevive s data and analytics are helping researchers design innovative cancer care delivery models, payers to reimburse treatments effectively and life science companies to develop personalized therapies for cancer.
MedCity News
Cerner, Philips invest in Carevive Systems’ oversubscribed $18M equity round
The health technology company will use the investment to deploy its cancer care management platform and remote monitoring program at more health systems and to advance its research capabilities. Philips Health Technology Ventures led the equity round, and Cerner was a returning investor.
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Carevive Systems, an oncology-focused health technology company, has raised $18 million in an oversubscribed Series C equity round.
The round, led by Philips Health Technology Ventures, includes Debiopharm Innovation Fund, Qure Ventures, and prior investors, like Cerner and LRVHealth. The company surpassed its initial goal of $10 million, closing at $18 million, a testament to the excitement surrounding the company’s platform and mission, said Madelyn Trupkin Herzfeld, co-founder of Carevive Systems, in an email.
Executive Hires: Walgreens Appoints New CEO, Cityblock Health, Innovaccer, Others
Walgreens appoints Rosalind (Roz) Brewer as the company’s Chief Executive Officer, effective on March 15, 2021. Brewer will also join the WBA Board of Directors upon assuming the role. She succeeds Stefano Pessina who, as previously announced, will transition to the role of Executive Chairman of the Board of WBA. Brewer, 58, will become the first Black woman to lead a Fortune 500 company.
Jeff McHugh, former senior Vice President of Sales at R1 RCM, has joined Innovaccer as Regional Vice President of Sales. In his new role, Jeff will focus on driving growth by identifying opportunities for healthcare organizations to leverage Innovaccer’s Data Activation Platform to improve care coordination, quality, and cost-effectiveness.