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MY01 raises $12.5 million CAD for microsensors that aid in physician diagnostics (BETAKIT)

Montréal-based MY01 has received $12.5 million CAD in Series A funding from a group of three Québec-based investors.

MY01 is a medical technology company that uses microsensors to aid physicians in diagnosing acute compartment syndrome (ACS). ACS occurs when muscle pressure builds to dangerous levels.

Former Outcome Health executives found guilty of fraud

A federal jury convicted three former executives of the once-highflying startup Outcome Health on several charges that they ran a billion-dollar scheme that defrauded customers including major pharmaceutical companies such as Novo Nordisk as well as investors including Goldman Sachs Group Inc.


Osler releases multi-year study of 350+ Canadian VC and growth equity financings

Osler’s market-leading Emerging and High Growth Companies Group has released its second annual Deal Points Report: Venture Capital Financings, a study of 353 anonymized venture capital and growth equity financings from 2020 to 2022, valued at more than US$6 billion.

This comprehensive report is a must read for founders, entrepreneurs, investors and advisors who are contemplating transactions in 2023 and beyond.

Read the Deal Points Report now.

#CDNtech sector struggles continue as government innovation promises continue to lag (BETAKIT)

With spring officially here, BetaKit’s most-read stories for the month of March highlight a season of transition for Canadian tech, with ongoing frustrations and challenges met by long-term optimism and an immediate need to reconcile with AI disruption.

Dive into this recap of Betakit’s coverage through the turbulent month of March.

Spring forward: Mental health benefits company nabs $71M, propels to $2.5B valuation (FIERCE HEALTHCARE)

Spring Health, which offers digital mental health care and navigation services, said the $71 million funding round boosted its valuation to $2.5 billion, the seven-year-old company highest valuation ever.

Round13 nabs $200 million first close for third fund as co-founders Bruce Croxon, John Eckert step back (BETAKIT)

Round13 Capital has raised $200 million CAD in the first close of its latest fund, as its co-founders Bruce Croxon and John Eckert hand over the leadership reins to Round13 general partners Brahm Klar and Wilson Lee.

UBC spinout Aspect inks deal with Novo Nordisk to develop 3-D printed diabetes-curing implants (THE GLOBE AND MAIL)

A University of British Columbia spinoff that 3-D prints live tissue implants intended to cure diabetes and liver ailments has struck a development deal with Danish drug giant Novo Nordisk that could be worth more than US$2.6-billion.

Aspect uses a combination of computational design and cellular and biomaterial processing to plot and produce implantable tissues.

Down rounds in 2022 lower than expected amid reliance on bridge financing: Osler report (BETAKIT)

Despite the market uncertainty that played out in 2022, the number of down rounds fell below the three year average between 2020 to 2022. This is one of the findings in the Osler, Hoskin & Harcourt LLP’s second annual report on venture capital and growth equity.

We need a way to tell useful mental health tech from digital snake oil (STAT)

In the absence of a regulatory agency or standard-setting group, digital mental health is in its “wild west” stage when marketing and scale have trumped rigor and evidence.

But how can one discriminate those products with value from those without evidence for efficacy or basic privacy protections?

Felix expands into more complex categories of care following $18 million Series B (BETAKIT)

After building out its own prescription fulfillment warehouses and closing $18 million CAD in previously unannounced Series B funding last summer, Felix has begun moving into more complex categories of care, including weight loss, coaching, and therapy.

New app uses AI to monitor for early signs of mental-health issues in youth (THE GLOBE AND MAIL)

Emmanuel Akindele is an economics student at Western University and co-founder of the new app Blue Guardian, which uses artificial intelligence to detect early signs of mental-health issues in youth.

Instead of focusing on specific words, Akindele said the AI model the app uses has been trained to pick up on subtle differences in speech patterns between a person with a “healthy mind” and a person struggling with mental-health issues such as anxiety or depression.

Eli raises $5 million to make at-home hormone testing for women more accessible (BETAKIT)

Montréal-based healthtech startup Eli, which provides solutions for saliva-based hormone testing, has raised $5 million CAD in all-primary seed funding.

Eli aims to make measuring hormones easier by following three steps: collect a tiny amount of saliva, insert the test in Eli’s palm-sized reader, and get results in minutes on the accompanying mobile app.

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The post H|T: The Healthtech Times – More healthtech fraud with Outcome Health ex-exec judgment first appeared on BetaKit.

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