H|T: The Healthtech Times – FDA approves Elon Musk’s Neuralink for human clinical study

Plus: AbCellera and BenchSci get combined $395 million

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AbCellera receives $300 million in combined government funding for biotech campus (BETAKIT)

Vancouver-based AbCellera will receive $300 million through the Strategic Innovation Fund to upgrade existing facilities throughout Vancouver and to develop a “state-of-the-art” biotech campus featuring a preclinical antibody-development facility.

Patient21, a digital healthcare startup with brick-and-mortar clinics, raises $108M to grow beyond Germany (TECHCRUNCH)

Founded out of Berlin in 2019, Patient21’s platform spans pretty much the whole patient cycle, from online bookings through digital case histories, check-ins, billing, insurance and more.

Patient21 had previously raised around €66 million ($71 million) in funding, and with its fresh cash injection it said that it plans to grow its software and expand beyond Germany.

BenchSci closes $95-million CAD Series D to expand AI drug-discovery platform (BETAKIT)

Toronto-based BenchSci, which helps pharmaceutical firms accelerate research and development using artificial intelligence, has secured $95 million CAD in Series D funding.

Elon Musk’s brain implant company Neuralink announces FDA approval of in-human clinical study (CNBC)

Neuralink, the neurotech startup co-founded by Elon Musk, announced Thursday it has received approval from the Food and Drug Administration to conduct its first in-human clinical study.

No brain-computer interface company has managed to clinch the FDA’s final seal of approval. But by receiving the go-ahead for a study with human patients, Neuralink is one step closer to market.

Evaluating UCP and NDP plans for tech as Alberta’s election day approaches (BETAKIT)

Advance polling for the 2023 Alberta general election has already begun. What’s on the table for the province’s tech sector?

Here's what Canadian tech can expect from the United Conservative Party and New Democratic Party leading up to and following Alberta's provincial election on May 29.

Scoop: FemTec Health shutters (AXIOS)

Women's health startup FemTec Health is out of money and winding down operations, per a letter sent to shareholders.

FemTec's apparent dissolution takes place against a thorny health-tech funding environment that appears to be taking a disproportionate toll on women's health companies.

“There’s a revolution in the wings”: Why Canada’s semiconductor industry needs an overhaul (BETAKIT)

Niraj Mathur, co-founder of Blumind, discusses his experience building a deep-tech company in Canada and why he feels the semiconductor industry is due for an all-out revolution.

BenevolentAI makes deep cuts after midphase flop, laying off 180 and shrinking lab footprint (FIERCE BIOTECH)

BenevolentAI is cutting back its drug development operation in the wake of a midphase flop, laying off up to 180 staff, reducing its lab footprint, pausing some programs and dropping its lead candidate.

The company is restructuring to form two business units: a tech division, which will commercialize AI products including a natural language biomedical querying system, and a drug development wing.

Summer camp for Canadian tech is back: Startupfest returns July 12-14 (BETAKIT)

Startupfest has announced its Big Picture Agenda, highlighting some of the major attractions coming to the Montreal technology festival when it kicks off July 12.

Use this BetaKit-supplied 15 percent discount code for your Startupfest tickets so we can see you in Montreal!

Peloton aims to rebrand as a fitness company for all with a focus on app and tiered subscription pricing (NBC NEWS)

Peloton is launching a new marketing campaign that bills the retailer as a company for anyone, regardless of age, fitness level and income — or whether they shelled out thousands for a pricey piece of equipment.

The relaunch comes along with a new, tiered app strategy that includes an unlimited free membership option (with no credit card required) and levels that cost $12.99 and $24 monthly.

Opinion: Laid-off tech employees are overlooking public service (BETAKIT)

Code For Canada's Dorothy Eng argues that tech professionals would enjoy the challenge of designing solutions for everyone in Canada, not just those who can afford them.

Layoffs hit Nuance after Microsoft acquisition (BOSTON GLOBE)

Nuance Communications, the speech-to-text pioneer bought by Microsoft last year, is cutting jobs as it focuses more narrowly on the health care market.

Employees at Burlington-based Nuance received an e-mail on Friday from chief executive Mark Benjamin notifying them of the cutbacks as part of the continued integration with Microsoft, which paid nearly $20 billion for the company.

Ailing MCI OneHealth divests five clinics in Calgary to Well Health for $2 million (BETAKIT)

In order to support its short-to-medium term operations, Toronto-based healthtech company MCI OneHealth is selling five of its multidisciplinary primary care clinics in Calgary to Well Health for $2 million CAD.

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Alex Riehl

Alex Riehl

Alex Riehl is a staff writer and newsletter curator at BetaKit with a Bachelor of Journalism from Carleton University. He's interested in tech, gaming, and sports. You can find out more about him at alexriehl.com or @RiehlAlex99 on Twitter.

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