Why a hot healthcare startup raised a fresh round from VCs instead of going public

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Today in healthcare news: We're hitting pandemic fatigue and cases are spiking again, why 98point6 isn't following some of its healthcare peers with a SPAC, and meet the 32-year-old who left investing to join an AI startup that's now looking for COVID-19 treatments.

Europe's dramatic spike in coronavirus cases is what happens when reopening meets 'pandemic fatigue'

• Coronavirus cases are rising across Europe, particularly among younger groups, the World Health Organization said Monday.
• With many European nations reopening bars, restaurants, and schools, young people have more opportunities to socialize.
• But people may also be experiencing "pandemic fatigue" that encourages them to exercise riskier behavior, according to a recent WHO report.

Read the full story from Aria Bendix here>>

Healthcare startups are racing to the public markets. The CEO of 98point6 shares why that didn't make sense and why decided to raise $118 million from private investors instead.

• Telemedicine startup 98point6 said Thursday that it raised $118 million in Series E financing from L Catterton and Activant Capital.
• Investor interest in telemedicine and digital health startups has not been confined to private markets, with several acquisitions and public debuts resulting from increased public market interest.
• Cofounder and CEO Robbie Cape said that pursuing a public offering via a reverse merger with a blank-check company was not aligned with his company's core mission and fundraising strategy at the moment.

Read the full story from Megan Hernbroth here>>

A former VC joined a startup looking to change how we treat cancer. Instead, the 32-year-old has turned her attention to COVID-19 treatments.

• Anna Huyghues-Despointes was a venture investor with Balderton Capital when she met Owkin's founders. The work they were doing convinced her to join the startup as an early employee.
• Owkin's technology can read and analyze complex medical data from sources such as photos or scans, cataloging the information in a way that is easy to use for researchers, Huyghues-Despointes said.
• The technology was originally developed for researching cancer diagnoses and treatments, but in the wake of the coronavirus pandemic, research on the novel pathogen with unknown long-term effects has become a big focus.

Read the full story from Megan Hernbroth here>>

More we're reading:

• The Trump administration forced states to bid eBay-style for masks and ventilators, according to an explosive new documentary (Business Insider)
• A Dutch health insurer just won a patent lawsuit against AstraZeneca (Stat News)
• Markets expect any COVID-19 vaccine approved this year to only be 50% to 60% effective, asset manager Balyasny says (Markets Insider)
• FDA commissioner Stephen Hahn talks to Bloomberg about the trial pauses as drugmakers race toward effective COVID-19 vaccines and treatments (Bloomberg)

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- Lydia