Blog

Quartet Health founder and CEO Arun Gupta on tech driving collaboration in behavioral health

The proliferation of electronic medical records (EMRs) has left much to be desired. Though designed with care improvement and data exchange in mind, the necessary connective tissue layer is absent. Healthcare providers are still resorting to the phone and fax to communicate, and patients are still carrying their personal health information from one appointment to the next, or relying on memory.

But I’m optimistic that the next era of healthcare innovation is coming — the app layer that rides on top of EMRs. Despite the public perception that EMRs prefer to remain “closed,” some have shown that they can play well with third-party solutions. Athenahealth, for one, has been at the forefront of integrating with outside apps, even going so far as to build a marketplace of third-party solutions to offer provider partners.

In the same way that apps have transformed an iPhone into a taxi-summoning, heart-monitoring, grocery-delivering instrument, the app layer that sits on top of the EMR has the potential to give back providers control over their workflow, improve information sharing and create a more organized, seamless patient experience. But what is perhaps the most important benefit of this connected health technology? Medical collaboration.

 

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Kyruus Gets $25M More for “Moneyball” Approach to Doctors and Patients

One of Boston’s most intriguing health IT startups just got a little richer. Kyruus, which makes analytics software for hospitals and health systems, has raised $25 million in new funding.

By our count, that’s $56 million in total funding for Kyruus, which has 110 employees.  The new money comes from New Leaf Venture Partners, along with Providence Health & Services, Leerink Capital Partners, McKesson Ventures, and previous investors Venrock, Highland Capital Partners, Lux Capital, and Fidelity Biosciences.

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Aclaris Therapeutics International and Rigel Pharmaceuticals Sign License Agreement for JAK Inhibitors to Treat Skin Disorders

Rigel Pharmaceuticals, Inc. (Nasdaq: RIGL) today announced that Aclaris Therapeutics International Limited (ATIL), a wholly owned subsidiary of Aclaris Therapeutics, Inc., and Rigel have entered into an exclusive, worldwide license agreement for the development and commercialization of specified Rigel JAK inhibitors for the treatment of alopecia areata and other dermatological conditions.

Under the license agreement, ATIL will assume responsibility for the continued development of specified Rigel JAK inhibitor compounds for the treatment of alopecia areata and other dermatological conditions.  Rigel will receive an upfront payment of $8 million, and will be eligible to receive various milestone payments of up to $90 million based on global development and multiple indications, as well as tiered royalties on any future sales of these compounds.

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Blueprint Medicines Receives FDA Authorization to Advance Novel Drug Candidate into Clinical Trial for Systemic Mastocytosis

Blueprint Medicines (NASDAQ: BPMC) today announced that the U.S. Food and Drug Administration (FDA) accepted the Company’s Investigational New Drug (IND) application to begin a Phase 1 clinical trial of BLU-285 in patients with advanced systemic mastocytosis (SM), a disorder of the mast cells.

“BLU-285 has the potential to be a highly targeted therapy for patients with severe forms of SM who lack effective treatment options,” said Jeffrey Albers, Chief Executive Officer of Blueprint Medicines. “With the achievement of this milestone, we are simultaneously advancing multiple drug candidates into clinical trials for genomically defined subsets of patients in dire need of new therapies. We remain singularly focused on using our deep understanding of the genetic blueprint of cancer and other diseases driven by the abnormal activation of kinases to craft highly selective medicines aimed at improving patients’ lives.”

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Proteostasis Therapeutics, Inc. Raises $37 Million in Crossover Financing

Proteostasis Therapeutics, Inc. (PTI), a company developing novel therapeutics to treat diseases caused by defects in protein processing, today announced that it has secured $37 million in a Series B mezzanine equity financing. The company plans to use the proceeds of this financing to advance its lead product candidate in cystic fibrosis into human clinical studies and continue to expand its product portfolio.

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Ultragenyx Presents Data on Patients With Cardiomyopathy Treated with UX007

Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development of novel products for rare and ultra-rare diseases, today announced the presentation of open-label data from five infants with cardiomyopathy due to long-chain fatty acid oxidation disorders (LC-FAOD) treated with triheptanoin (UX007). Severely affected LC-FAOD patients can present early in life with severe cardiomyopathy, arrhythmia, heart failure, hypoglycemia, hepatic dysfunction, and rhabdomyolysis that can lead to death. The data were presented at the Society for the Study of Inborn Errors of Metabolism (SSIEM) Annual Symposium in Lyon, France.

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Symbiomix Therapeutics Announces That The FDA Has Granted Fast Track Designation To Its Single-Dose Bacterial Vaginosis Therapy, SYM-1219

Symbiomix Therapeutics announced that the FDA has granted fast track designation to its single-dose bacterial vaginosis therapy, SYM-1219.

The company also recently completed enrollment for its phase 3 clinical trial of the drug, according to a press release.

“The Symbiomix team has executed an aggressive timeline to drive SYM-1219 toward the market,” Robert Jacks, president of Symbiomix, said in the release. “Completing patient enrollment in this phase 3 trial in less than 4 months, and achieving FDA fast track designation, are important milestones against our goal of filing a new drug application by the middle of next year.”

BlackRock Embraces Robo Finance Advice with Acquisition of FutureAdvisor

A big asset manager is embracing “robo” finance advice.

BlackRock Inc. said Wednesday it is purchasing FutureAdvisor, a privately held pioneer in the fast-growing business of using automated computer models to build and manage investment portfolios.

The terms of the deal, which is expected to close in the fourth quarter, weren’t disclosed. BlackRock said the financial effect isn’t material.

With over $600 million in assets under management, FutureAdvisor will continue to serve both existing and new individual clients from its offices in San Francisco. But BlackRock is most interested in selling FutureAdvisor’s automated advisory services to the banks, securities firms and insurance companies that are customers of BlackRock Solutions. That unit, which accounted for $161 million of BlackRock’s $2.9 billion in revenue in the second quarter, sells a system that allows financial institutions to place trades and assess how those trades will affect their portfolios’ risk profiles, among other features.

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ViewRay Completes Private Placement, Raises Aggregate of $29.4Million

ViewRay, Inc. (OTCQB: VRAY) announced today the completion of its private placement offering as part of its alternative public offering announced on July 23, 2015. Shares of the company’s common stock are currently quoted on the OTC Markets under the symbol “VRAY.”

Together with the initial closing of the private placement previously announced on July 23, ViewRay has raised aggregate gross proceeds of $29.4 million for the issuance and sale of approximately 5.88 million shares of its common stock at $5.00 per share.

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Tradier Offers An Alternative to Other Robo-Advisors with Build-Your-Own Digital Platform

As if there weren’t already enough options in the robo-adviser movement for financial advisers, now there’s yet another: the build-your-own digital platform.

Tradier, a cloud-based, open-source brokerage technology provider, creates white-labeled online investment platforms for advisory firms and other financial-services companies. Dan Raju, chief executive of Tradier, said advisers pick the build-it-yourself option for robos because they want to stand out from everyone else.

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