Max Lockie

ClosedLoop.ai-Raises-34M-Series-B-to-Usher-in-AI-Enabled-Healthcare-and-Tackle-Trillion-Dollar-Healthcare-Problem

Predicting the future of healthcare with ClosedLoop.ai CEO Andrew Eye

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

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 <p>Agilent Technologies revealed that the GenetiSure Dx Postnatal Assay has obtained certification from the European In Vitro Diagnostic Regulation (IVDR) as a Class C product. The certification demonstrates the assay's compliance with the elevated standards of IVDR, ensuring its sustainable availability as a trustworthy qualitative test for healthcare professionals and clinical geneticists across the European Union.</p>
 <p>The assay is based on chromosomal microarray technology and uses Agilent's exclusive Comparative Genomic Hybridization technology. It identifies genetic anomalies linked to intellectual disability, dysmorphic features, developmental delay, and congenital anomalies. The assay is created for use with the SureScan Dx Microarray Scanner system and should be analyzed using CytoDx software.</p>
 <p>Agilent suggests that this certification will elevate the safety and efficiency of diagnosing postnatal chromosomal abnormalities by adhering to the European IVDR standards.</p>
 
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Agilent Technologies' GenetiSure Dx Postnatal Assay earns European IVDR Class C Certification

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 <p>INOVIQ has formed a partnership with Promega Corporation to develop commercial solutions for exosome isolation and nucleic acid extraction. The collaboration intends to bring INOVIQ’s EXO-NET, a tool for capturing exosomes, to the commercial market utilizing Promega’s nucleic acid purification resources. EXO-NET is an innovative system, based on immunoaffinity magnetic bead isolation, designed to extract exosomes from a range of human biofluids.</p>
 <p>Promega Corporation is a key player in the biotechnology and life sciences research industry, offering a diverse range of products including tools and technologies for work in cell biology, DNA, RNA, and protein analysis, drug development, and molecular diagnostics. Promega’s patented technologies such as the HaloTa Protein Labeling and Analysis, HiBiT Protein Tagging, and NanoLuc Luciferase are utilized in a variety of research and industrial applications.</p>
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INOVIQ and Promega sign global supply and distribution agreement for EXO-NET exosome isolation tool

Empowering Tomorrow's Innovations with Generative AI Infrastructure

Generative AI Infrastructure

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 <p>Mphasis, an IT solutions provider, has formed a multi-year global strategic collaboration agreement (SCA) with AWS to develop the GenAI foundry. This project is designed to enhance efficiency in the financial services industry.</p>
 <p>The platform will act as a center for creating industry scenarios and producing proof of concepts (POCs). Though initially focused on financial services, there are plans to branch out into different sectors in the future.&nbsp;</p>
 <p>One of the key features of this platform is the Intelligent Document Processing (IDP), a system aimed at automating data extraction and analysis. This will help to decrease mistakes and make procedures more efficient, paving the way for new benchmarks in the financial services sector.</p>
 
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Mphasis partners with AWS to launch GenAI foundry for financial services

Foundation Models

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 <p>A Toronto-based AI startup, Cohere, has launched a private beta for a new embedding model called Cohere Compass. This model is designed to facilitate multi-aspect data indexing and searching.</p>
 
 <p>The Cohere Compass model functions by converting data into JSON documents. These documents are then transformed into a unique format by the model and stored in vector databases. Furthermore, this model is capable of handling multi-aspect representations, understanding the relationship between concepts in the data, and provides the flexibility to store output embeddings in multiple databases.</p>
 
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Cohere announces private beta for Compass, a foundation embedding model

ANALYST_QUICK_TAKE

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 <p>Reka presents a cutting-edge multimodal language model called Core, which stands as a potential competitor to giants like OpenAI, Anthropic, and Google.</p> 
 <p>This remarkable model has the ability to comprehend data from images, videos, and audio as well as texts. It shrewdly features a spacious context window of 128K, the capability to generate and understand coding, and has been trained in a multitude of 32 languages.</p> 
 <p>According to Reka, the Core model is highly versatile with various use case applicability. It aids in streamlining tasks for organizations, allowing them to derive greater value from their data pool, which ultimately results in financial savings.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> This news comes two months after the <a href="https:<br>
//sp-edge.com/updates/26584"> company introduced </a> a multimodal and multilingual language model, Reka Flash, which claimed to outperform OpenAI’s GPT-3.5 model. The new model launched today claims to be superior as it aims to compete with more advanced models like OpenAI’s GPT-4 and Anthropic’s Claude 3.</p>

Reka launches Core, a multimodal language model

Using AI to automate, enhance and optimize marketing activities

Marketing Automation

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 <p>AdTech firm Criteo has laid off approximately 4% of its workforce, equating to 140 employees. The company's business heavily depends on retargeting, a method of digital advertising that utilises users' online behaviour to present them with ads on various websites. The imminent end of third-party cookies, however, has pushed the company towards retail media, but it has had limited success. Google's impending introduction of its Privacy Sandbox as a cookie replacement is causing worries at Criteo for a possible decrease in revenue. The company's CFO hinted that this could potentially cost the company up to USD 40 million. </p>
</div> <p><b>Analyst QuickTake</b> :<br>
 Criteo's recent layoffs can be interpreted as a preemptive move in anticipation of lost revenue. They also serve as a warning to Google about the potential for job losses in the advertising industry as a result of this shift. Despite industry calls for further delays in phasing out cookies, Google is sticking to its Q3 2024 deadline, insisting that the industry needs to adapt to the changes.</p>

Criteo lays off staff amid concerns over Google's phaseout of Cookies

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 <p>Sprout Social, a social media marketing management platform, announced that its current CEO, Justyn Howard, will transition to the role of executive chair from October 1, 2024. The current president, Ryan Barretto, will take over as CEO.</p>
 <p>Barretto's history with Sprout Social dates back to 2016, where he has served in roles including president and SVP of global sales and success. Prior to joining Sprout Social, Barretto spent a decade at Salesforce, occupying various leadership roles during its substantial growth period.</p>
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Ryan Barretto to become CEO of Sprout Social

Automation to improve business efficiency

Workflow Automation Platforms

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 <p>Workflow automation platform Appian has collaborated with Amazon Web Services (AWS) to create new GenAI-powered workflow solutions. The partnership allows Appian to integrate its existing AI capabilities and data fabric with the LLMs and machine-learning services from Amazon Bedrock and SageMaker. Appian users can host LLMs with compliance and data security, and use their own data to develop, train, and adjust AI models. </p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> GenAI has become a prominent tech trend within the workflow automation space, with Appian joining a long list of leading players who have released their own GenAI features to their platforms within the past month. This includes 1) <a href="https:<br>
//sp-edge.com/companies/32064"> Nintex </a> , which <a href="https:<br>
//sp-edge.com/updates/27959"> launched new GenAI-powered tools </a> for its platform, 2) <a href="https:<br>
//sp-edge.com/companies/289520"> UiPath </a> , which <a href="https:<br>
//sp-edge.com/updates/27785"> launched a series of new features </a> including context grounding and proprietary LLMs, 2) <a href="https:<br>
//sp-edge.com/companies/82921"> Zapier </a> , which <a href="https:<br>
//sp-edge.com/updates/27915"> launched a chatbot building tool </a> , and 3) <a href="https:<br>
//sp-edge.com/companies/3426"> Pegasystems </a> , which <a href="https:<br>
//sp-edge.com/updates/26549"> launched its own solution </a> for users to generate application blueprints.</p>

Appian partners with AWS to integrate GenAI into process automation platform

A decentralized version of the web powered by the blockchain

Web3 Ecosystem

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 <p>Web3-based game developer Avalon has secured USD 10 million in a funding round. The round was co-led by Bitkraft Ventures and Hashed, with additional participation from Coinbase Ventures, Spartan Capital, Foresight Ventures, LiquidX, and Momentum6. This bring Avalon's total funds raised to USD 23 million until now.</p>
 <p>The newly obtained funding will be channeled towards the development of a next-generation multiplayer online (MMO) game, named Avalon, for PC and cloud streaming platforms.</p>
 <p>Established in 2021, Avalon is in the process of creating an online game featuring interoperable game assets and progression between various gaming worlds. The company aspires to roll out a closed early access version of the game and an NFT collection featuring AI-assisted avatars, by the end of the current year.</p>
 
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Avalon raises USD 10 million in venture funding for product development

Promising research and receding stigma are giving investors cannabis-boom flashbacks.

Psychedelic Medicine

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 <p>Reunion Neuroscience, a Toronto-based psychedelic therapy company, has formed a partnership with Fluence, a company focused on psychedelic therapy training, to carry out a Phase II clinical trial of RE104, Reunion's primary asset, aimed at treating postpartum depression (PPD).</p>
 <p>As per the agreement, Fluence will help in developing training material, oversee the training program, and train study monitors. RE104, a patented prodrug of the 4-OH-DiPT compound, is being studied by Reunion for the treatment of mental health conditions, beginning with PPD.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> Over the years, Fluence has built partnerships to offer certification for mental health practitioners in psychedelic therapy and integration. Notable collaborations include 1) <a href="https:<br>
//sp-edge.com/updates/28294"> Psyence </a> , to conduct a Phase IIb clinical trial investigating psilocybin-assisted psychotherapy for cancer patients with adjustment disorder (April 2024), 2) <a href="https:<br>
//sp-edge.com/updates/22180"> Cybin </a> , to expand the EMBARK training program for the CYB003 trial (September 2023), and 3) <a href="https:<br>
//sp-edge.com/updates/3080"> Tryp Therapeutics </a> , to support a Phase IIa clinical trial and design psychotherapy protocols (May 2021).</p>

All Updates