🧬 This week's Austin Bio & Health Roundup highlights new funding, intriguing data, and major commercial & scientific milestones 🧬
💰 Funding
Hello Patient, building Gen-AI phone agents for healthcare providers, came out of stealth with a $6.3M seed raise. Congrats Alex Cohen! And it’s Austin funding Austin, with 8VC a key part of the round.
Aspira Women's Health, focused on non-invasive AI-powered diagnostics, was awarded a $10M grant from ARPA-H to advance their blood test for endometriosis. Well done, Nicole Sandford, Sandy Milligan, MD JD & team.
Maxwell Biosciences, a synthetic small molecule drug platform, received ~$3M from the Medical Technology Enterprise Consortium (MTEC) to find assets that will prevent wound infection on the battlefield. Fantastic work, Joshua McClure & team.
Reminder: I don’t cover SEC filings. When the builders themselves announce, I’ll shout it from the rooftops!
📊 Data
Clutch VC released its Texas Seed Funding Update (YTD Q3):
YTD 387 seed rounds raised for a total $636M. Though deal counts are down QoQ, capital invested has trended upward, making this the highest quarter since Q1 2023.
Health was the second largest sector with 27% of all capital raised so far this year, up from 16% during the same time frame last year.
Great data & insights Rajiv Bala, Steve Coffey, and Caitlin McHugh.
🤝 M&A and Partnerships
Lumos Pharma entered a merger agreement with Double Point Ventures, going private at a $38M valuation.
🚀 Launches, Expansions, Milestones, and Wins
Oracle Health announced updates to its Data Intelligence platform, with enhancements to Clinical, Analytics, and Care Coordination products.
🤠 Texas Bio Triangle
Houston-based Coya Therapeutics, Inc. shared positive results from a double-blind study of low-dose interleukin-2 (LD-IL-2) in Alzheimer’s, showing the therapy is safe and well tolerated with promising trends toward cognitive improvement. Amazing Howard Berman, PhD, Arun Swaminathan, and the rest of the team.
Dallas-based Stone Mountain Ventures closed a $5M Fund II focused on health & AI. Fund I included Austin Bio & Health startups Legion Health and MDisrupt. Congratulations, John Diaz and keep looking at Austin for new opportunities!
Quick Note: Some items this week actually happened last week, apologies if I missed them! Please tag or message me for future announcements so I can make sure to include them.
What’s Next?