OpenEvidence's $1B Valuation & AI Advances in Drug Discovery - Life AI Weekly #6

Hi there,

Welcome to this week's edition of Life AI Weekly, where we delve into the latest advancements in Healthcare and Life Sciences AI. This week, we're highlighting significant strides in AI-driven drug discovery and healthcare technology. Iktos has secured a €2.5 million grant from the EIC to further its AI drug discovery efforts, while Legend Innovation is partnering with Accelero Biostructures to enhance their capabilities in the same field. In healthcare tech, Innovaccer has launched AI agents designed to streamline administrative tasks, and Coreline Soft is set to present its AI imaging solutions at STR 2025.

In other news, Predictive Oncology is making waves with its AI technology that identifies potential cancer treatments, and Harbour BioMed is collaborating with Insilico Medicine on AI-driven antibody discovery. Meanwhile, Sensi.AI has partnered with Right at Home Canada to improve senior care through AI solutions. Stay tuned as we explore these stories and more, showcasing the transformative impact of AI in healthcare and life sciences.

Lillia, a Qatar-based AI healthtech startup, has received a $1.7 million grant from the Qatar Research, Development and Innovation Council to expand its AI-powered platform for managing chronic diseases. PEP Health has partnered with ECU Health to implement AI technology aimed at enhancing patient care. The initiative focuses on using real-time insights from online feedback to improve the patient experience. OpenEvidence, an AI healthcare startup, has raised $75 million from Sequoia, achieving a $1 billion valuation. The company plans to expand its services and form strategic partnerships.

Iktos secures a €2.5 million EIC grant to enhance its AI and robotics platform for drug discovery. Legend Innovation partners with Accelero Biostructures to accelerate drug discovery using AI and structural biology. Predictive Oncology Inc. uses AI to identify drugs for treating various cancers. Harbour BioMed and Insilico Medicine collaborate on AI-driven antibody discovery. CircNova raises $3.3 million for AI-driven RNA therapies.

SOPHiA GENETICS has announced that 37 healthcare institutions worldwide, including Heidelberg University Hospital and Jewish General Hospital, have adopted its MSK-ACCESS® application for Liquid Biopsy testing, aiming to enhance cancer care through decentralized testing. Researchers from Huashan Hospital at Fudan University have discovered a new therapeutic target and a promising drug for Parkinson's disease, which may enable early intervention and slow disease progression. Researchers at University Hospital Basel have developed an AI model named TotalSegmentator MRI, which automatically segments major anatomical structures in MRI images, aiming to assist radiologists by reducing workload and providing consistent results.

Spore.Bio, a French startup, has raised $23 million to enhance its AI technology for rapid bacteria detection in food, drugs, and cosmetics. The funding will aid in expanding production and workforce, with a focus on the US market. MOA Foodtech, a Spanish company, has been awarded €14.8 million by the European Commission to advance its AI and biotechnology-driven ingredient development project. Compugen Ltd. has enhanced its Unigen™ AI/ML platform by incorporating Ultima Genomics' UG 100™ single cell sequencing technology to advance the understanding of tumor biology and immune regulation. Alveo Technologies has partnered with Royal GD to enhance rapid molecular diagnostics in animal health, with their first product, the Alveo Sense™ Poultry Avian Influenza test, expanding distribution to the Middle East and Northern Africa.

Innovaccer has introduced AI agents to automate administrative tasks in healthcare, aiming to reduce the burden on clinicians and staff. Coreline Soft will showcase its AI-based lung and thoracic imaging solutions at the Society of Thoracic Radiology 2025 conference in California. Sensi.AI has partnered with Right at Home Canada to implement its Care Intelligence solution, aiming to enhance senior care and reduce hospital readmissions through data-driven insights.