Plus: Peloton is cutting 20 percent of workforce as CEO steps down.
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Canadian biotech leader Clarissa Desjardins secures $63 million CAD for Congruence Therapeutics (BETAKIT)
Clarissa Desjardins’ Congruence Therapeutics has secured $63 million CAD for its platform, which designs novel small molecules that can speed up drug discovery for rare diseases. The Series A round was led by Amplitude Ventures and Fonds de solidarité FTQ, in Amplitude’s third bet on Desjardins.
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Peloton is cutting 20 percent of workforce as CEO steps down (THE VERGE)
The job cuts amount to around 20 percent of the former pandemic darling’s corporate workforce, but will not affect the company’s lauded roster of instructors or fitness content.
11 Canadian tech companies to watch in 2022 (BETAKIT)
ControlHQ’s co-founder is back with his #CDNtech crystal ball. Here’s Kevin Sandhu’s annual list of Canadian tech companies that will make significant strides in 2022.
SoftBank leads another big Canadian deal as Ventus Therapeutics raises US$140-million (FAST COMPANY)
The Japanese investment giant has now led four $100-million-plus Canadian deals in the past year.
iGan Partners, Faisal Belhoul launch Arabia medtech fund with $250 million USD target (BETAKIT)
The new regional fund will target the Middle East and North Africa region.
Telehealth unicorn Thirty Madison is merging with birth-control platform Nurx (FAST COMPANY)
Two specialized online health providers are joining forces to offer more comprehensive services. Expect a lot more of that in the years to come.
Amazon expanding healthcare service to 20 more cities, lands Silicon Labs, Whole Foods Market as customers (FIERCE HEALTHCARE)
Amazon has signed on three more companies for its virtual and in-person healthcare services as it continues to target the employer market.
Cyclica spins out startup, Perturba Therapeutics, from University of Toronto (BETAKIT)
“We created Perturba to combine our two approaches to drug discovery for many types of cancers that are really recalcitrant to other techniques,” said Naheed Kurji, co-founder, CEO and president of Cyclica.
CooperSurgical to acquire Reproductive Health division of Cook Medical for $875M (MED CITY NEWS)
CooperSurgical is set to acquire Cook Medical’s Reproductive Health Division to expand its offerings of ob-gyn and fertility medical devices.
PointClickCare looks to acquire US-based Audacious Inquiry (BETAKIT)
PointClickCare claimed the acquisition will enable it to deliver care collaboration and care solutions for over 150 million people across the US.
Ada Health closes Series B funding round at $120M (MOBIHEALTHNEWS)
The Berlin-based digital health company plans to expand in the US market.
Gandeeva Therapeutics raises $40 million in Series A funding to scale precision imaging tech (BETAKIT)
Obvious Ventures, Amgen Ventures, Amplitude Ventures, and Air Street Capital also participated in the round. A spokesperson told BetaKit that the $40 million raised is Gandeeva’s total funding to date.
Signify Health acquiring Caravan Health for up to $300M (MED CITY NEWS)
According to the terms of the deal, the initial purchase price of about $250 million will be paid in cash and Signify stock.
The future of digital health is being consolidated, and that could be good for you (CNBC)
Venture investing has picked up in the digital health sector, but so has consolidation.
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