In other news, Abridge, a startup that uses AI to transcribe patient conversations with doctors into medical notes, raised $150 million in a Series C round, bringing its valuation to $850 million. The funding will be used to boost sales into more hospitals and invest in technical research and development. Other healthcare startups also announced funding rounds, including Baseimmune, Frontier Medicines, and Medical Microinstruments. Meanwhile, Viking Therapeutics revealed promising data suggesting its weight loss drug rivals those from Novo Nordisk and Eli Lilly.
Key takeaways:
- Abridge, a startup that uses AI to transcribe patient conversations with doctors and transform them into medical notes, has raised a $150 million Series C round, bringing its valuation to $850 million.
- Microsoft's CTO of Health and Life Sciences Platforms, Harjinder Sandhu, discussed the use of AI in healthcare at the ViVE conference, emphasizing the importance of a value versus risk grid when incorporating large language models into healthcare settings.
- Boston Children’s Hospital has created a separate cloud instance of Azure to access GPT in a way that ensures no protected health information is sent back to OpenAI, according to the hospital's chief innovation officer, John Brownstein.
- Various healthcare startups have announced significant funding rounds, including Baseimmune ($11.3 million Series A), Frontier Medicines ($80 million Series C), Medical Microinstruments ($110 million Series C), and Mainstay Medical Holdings ($125 million in equity financing).