In other news, Goldman Sachs has closed a $650 million fund for life sciences companies, CG Oncology filed for an IPO, and Devoted Health raised a $175 series E round. Health systems BJC Health System and Saint Luke's Health System have completed their merger. The year 2023 saw significant developments in the biotech sector, including the first FDA approval for a Crispr gene therapy. Other healthcare news includes California's expansion of its Medicaid program to undocumented immigrants, Rite Aid's closure of about 200 stores, and warnings about synthetic opioids called nitazenes.
Key takeaways:
- ByteDance, the parent company of TikTok, is recruiting scientists for AI-based research into drug discovery and other scientific endeavors.
- Dandelion Health is using a de-identified dataset of 10 million patient records to reduce bias in health AI and has closed a $15 million seed round led by Primary.
- Goldman Sachs has closed its $650 million West Street Life Sciences I fund, which will invest in life sciences companies, and CG Oncology, a company developing a treatment for bladder cancer, has filed for an IPO.
- 2023 saw significant shifts in the biotech sector, including the first FDA approval for a Crispr gene therapy, Casvegy, co-developed by Vertex Pharmaceuticals and Crispr Therapeutics.