Varda Space has raised a $90 million series B round, bringing its total investments to $145 million. The company has developed spacecraft capable of manufacturing active pharmaceutical ingredients in space and safely delivering them back to Earth. This process takes advantage of the microgravity environment in space to improve the control over the crystallization process, resulting in more precise and effective ingredients. The company’s next mission is planned for the summer.
The 30 Under 30 list for Science & Healthcare in Europe features young professionals working on innovative healthcare solutions, including companies focused on women’s health, prosthetics, artificial intelligence, and more. In other pipeline and deal updates, UMass Chan Medical School received funding to establish a health AI assurance lab, Covered California will use Google Cloud AI solutions for verification, Johnson & Johnson acquired Shockwave Medical, and Onkos Surgical received FDA approval for antibacterial coated implants. Prothea Technologies launched with a series A round for lung cancer diagnostics and treatments, while Medical Microinstruments received FDA authorization for its robotic surgery system.
Amylyx Pharmaceuticals announced plans to remove the ALS drug Relyvrio from the market due to lackluster trial results, leaving only two other ALS drugs available. In other healthcare news, Arizona’s Supreme Court upheld a law making most abortions a felony, but the issue will be on the November ballot for voters to decide. Popular diabetes and weight loss drugs like Ozempic and Wegovy were found not to substantially increase thyroid cancer risk, while a late-stage trial of Pfizer’s RSV vaccine showed promising results in adults under 60 years old. One Medical, acquired by Amazon, plans to expand into two new U.S. markets by the end of 2024.
In across Forbes news, Les Wexner is quietly reshaping Ohio, super-polluting greenhouse gases are for sale on Facebook Marketplace, and a billionaire has bought over a thousand small businesses without losing money. In other articles, one company justifies a 486% price hike for its drug, Congress is likely to postpone decisions on Covid-era telehealth policies, and Health Secretary Becerra may leave the Biden administration for a California gubernatorial bid. These developments showcase the ever-evolving landscape of healthcare and innovation.
