Temasek Holdings is a lender provider. The company offers debt financing and focuses on transforming economies, increasing middle-income populations, developing comparative advantages, and emerging champions. Financial services, transportation, industrial, consumer, real estate, telecommunications, media, technology, and life sciences are among the industries served by the firm.

Temasek Holdings

Silver Lake is a global technology investment firm focused solely on making large-scale investments in leading technology companies.

Silver Lake

Ontario Teachers' Pension Plan invests and administers the pensions of active and retired teachers. It invests the pension fund's assets and administers the pensions of 284,000 active and retired teachers in Ontario. A pension plan has existed for Ontario teachers since 1917. Today, the plan's members include 173,000 teachers in elementary and secondary schools in Ontario, 111,000 pensioners, and 72,000 inactive members. The plan has one of Canada's largest payrolls with $4.2 billion in benefits paid to plan members and $2.3 billion received in total contributions from teachers and the provincial government in 2008.

Ontario Teachers' Pension Plan

Alphabet is a holding company that provides projects with resources, freedom, and focus to make their ideas happen. Alphabet is the holding company for Google and several Google entities, including Google X, Google Ventures, Google Capital, Calico, and its Life Sciences efforts.  The company's CEO, Larry Page announced the operational restructuring effort for Alphabet Inc. to replace Google Inc. as the official publicly-traded entity. He announced that all shares of Google would automatically convert into the same number of shares of Alphabet, with all of the same rights. The two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG.

Alphabet

Verily

Artificial intelligence is identifying and testing new therapies faster than ever.

AI Drug Discovery

<div>
 
 Insitro leverages ML and high-throughput biology to develop new medicines, focusing on metabolism, oncology, and neuroscience therapeutic programs. The company integrates in vitro cellular data with clinical data to redefine diseases, accelerating the development of new medicines through its robust ML-driven platform.&nbsp;
 
 
 Its approach is based on test tube experiments, involving cells outside the human body to predict what drug developers would see in a human clinical model. Using this method, it creates models of genetic diseases and applies AI to find differences between healthy and sick cells.
 
 
 In October 2020, Insitro acquired 
 <a href="https://www.businesswire.com/news/home/20201022005401/en/insitro-Strengthens-Machine-Learning-Based-Drug-Discovery-Capabilities-with-Acquisition-of-Haystack-Sciences">
 Haystack Sciences
 </a>
 to enhance its drug discovery capabilities, particularly in building multi-dimensional predictive models for small-molecule design.
 
 
 Key customers and partnerships
 
 
 The company entered into several partnerships with pharma and biotech companies to offer its AI platform focused on specific disease targets, namely 
 <a href="https://sp-edge.com/updates/1032">
 Bristol-Myers Squibb
 </a>
 (BMS; October 2020) to develop treatments for neurodegenerative disorders, such as amyotrophic lateral sclerosis, and 
 <a href="https://www.businesswire.com/news/home/20190416005296/en/">
 Gilead Sciences
 </a>
 (April 2019) to find new drugs to treat nonalcoholic steatohepatitis (NASH), a form of fatty liver disease.&nbsp;
 
 
 The company also partnered with 
 <a href="https://www.genomicsengland.co.uk/news/insitro-and-genomics-england-announce-partnership">
 Genomics England
 </a>
 in March 2022 to advance cancer research by combining Insitro&rsquo;s ML capabilities with Genomics England's phenotypic and genetic database.&nbsp;
 
 
 Funding and financials
 
 
 In March 2021, the company raised USD 400 million in a 
 <a href="https://sp-edge.com/updates/1089">
 Series C
 </a>
 funding round led by Canada Pension Plan Investment Board (CPP Investments), with participation from Andreessen Horowitz and GV, among others. The proceeds were earmarked to further develop Insitro&rsquo;s AI platform and advance its drug pipeline.&nbsp; 
 
</div>

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

Onduo is a virtual care platform providing personalized care for chronic conditions using deep analytics, connected devices, and a care app. The company’s primary focus areas are 1) type 2 diabetes, 2) hypertension, 3) weight management, and 4) mental health. The company has access to Alphabet group’s advanced software to evaluate multiple data streams (digital phenotype).Onduo’s care solution includes telemedicine visits, personalized insights on health risks and progress, integrated devices, tools, and education guidance for each of the focus areas. Further, members are provided with connected devices depending on the selected program—a blood glucose meter for diabetes, a bluetooth scale for weight loss, and a blood pressure cuff for hypertension.In <a href="https://sp-edge.com/updates/30338">June 2024</a>, Verily, Onduo’s founding entity and a subsidiary of Alphabet, introduced Lightpath, an AI-powered chronic care solution that will replace Onduo and offer personalized programs for diabetes and hypertension, including GLP-1 drug prescriptions, by 2026. The new platform will utilize AI and continuous glucose monitoring devices to tailor care to individual needs.Key customers and partnershipsThe company operates a B2B2C business model providing services to members via insurance providers and employers. In September 2021, the company partnered with Fitbit (owned by Google) to provide eligible members with Fitbit’s device, a wearable sensor, and access to its Fitbit Premium app as part of Onduo’s care solution to track activity, sleep, and stress levels.Furthermore, in August 2022, the company partnered with digital musculoskeletal (chronic conditions affecting bones, joints, and muscles) care provider <a href="https://sp-edge.com/companies/317457">Sword Health </a>. This partnership expanded Onduo’s care solutions to treat musculoskeletal patients via Sword Health, which provides a digital therapist, motion sensor device, and personalized treatment plan.Funding and FinancialsThe company was launched in 2016 under a joint venture between Verily (a spin-off of Google X’s research group) and drug developer Sanofi, with an initial investment of USD 500 million. However, in December 2019, Sanofi withdrew from the joint venture citing financial concerns.

Making meat sustainable over the long term

Cell-cultured Meat

Culture Biosciences is a technology company specializing in the field of biomanufacturing R&amp;D. The company offers a cloud-connected bioreactor service that enable more flexible, fast, and accurate cell-culture experiments. According to the company, this approach allows companies to run, monitor, analyze, and collaborate on bioreactor experiments from the cloud, without the need for substantial internal capacity investments.The bioreactors have a modular design and can be managed through a secure web application named “Console.” Its services are aimed at a range of applications, including the development and optimization of protein therapeutics, viral vectors, and synthetic biology products.Key customers and partnershipsAs of June 2023, Culture Biosciences provided its services to 70+ companies, including biopharma companies, CDMOs, and biotech clients. Further, the company partnered with Cytiva, a therapeutics technology provider, to develop a collaborative platform.&nbsp;&nbsp;

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

<div>
 
 Oscar Health is a health insurance company powered by a full stack technology platform. Oscar sells insurance directly to its members through federal and state-run healthcare exchanges formed in conjunction with the Patient Protection and Affordable Care Act and leverages its technology platform to provide services via its +Oscar offering. Individual plans are offered to individuals and families through Health Insurance Marketplaces, while small Group plans are offered to employees of companies with 50&ndash;100 full-time workers in partnership with Cigna.
 
 
 Moreover, Oscar's platform integrates data from various sources, including doctor visits and wearable devices, to provide real-time insights and recommendations to members. This includes suggesting the right care providers, virtual care options, and personalized benefits.
 
 
 Key customers and partnerships
 
 
 As of March 31, 2024, Oscar served over 1.4 million members (up 42% YoY).&nbsp;
 
 
 It partnered with Cigna through the 
 <a href="https://static.cigna.com/assets/chcp/resourceLibrary/medicalResourcesList/medicalPlansAndProduct/medicalPlansAndProductCignaPlusOscarPlans.html">
 Cigna +Oscar
 </a>
 partnership to exclusively serve the small group employer market. In March 2024, Oscar announced that it will not renew the Cigna+Oscar Small Group arrangement after the expiration of the initial term on December 31, 2024.
 
 
 Funding and financials
 
 
 Oscar Health listed its shares on the NYSE in March 2021 at a share price of USD 39, raising USD 1.4 billion and valuing the company at USD 7.9 billion.
 
 
 In 2023, the company recorded revenue of USD 5.8 billion (up 48% YoY) and a net loss of USD 270.5 million compared with a loss of USD 606.3 million in 2022.
 
</div>

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

<div>
 
 Freenome is a California-based biotechnology company that focuses on developing tests for early cancer detection using a routine blood draw. The genetic profiling startup has developed a machine learning and AI-powered multiomics platform that was built on thousands of cancer-positive samples, allowing it to learn which biomarker pattern signifies a type of cancer. While most competitors rely only on tumor-derived markers, Freenome&rsquo;s platform detects key biological signals beyond mutations that are early warning signs for cancer, incorporating both tumor and non-tumor-derived indicators which support early detection.&nbsp;
 
 
 The platform analyzes an individual&rsquo;s cell-free DNA, methylation (RNA processing), and proteins to gain insights into immune response, tumor heterogeneity, and gene expression changes in the body associated with tumor formation. As of January 2022, the company was carrying out a study, known as the PREEMPT CRC clinical trial, to develop a blood test for the early detection of colorectal cancer (CRC). The company was also looking to enroll 25,000 participants for a study to validate its blood test and to support its submission for approval by the US Food and Drug Administration. Its CRC screening test integrates personalized clinical insights with health systems via more than 100 healthcare partnerships across the US.&nbsp;
 
 
 The company is also extending its multiomics platform with biomarkers for other cancer types, including pancreatic cancer and breast cancer. It plans to launch additional multi-cancer clinical studies in February 2022, focused on personalized screening tests based on an individual&rsquo;s risk.&nbsp;
 
 
 In May 2023, Freenome 
 <a href="https://sp-edge.com/updates/18782">
 acquired Oncimmune 
 </a>
 for a total consideration of GBP 13 million (~USD 16.1 million). The acquisition provides Freenome with additional clinical and commercial resources, including a pipeline of autoantibody targets for cancer indications.
 
 
 Key customers and partnerships
 
 
 <a href="https://sp-edge.com/updates/19455">
 In June 2023
 </a>
 , Freenome and Walgreens entered a multi-year partnership to advance clinical studies focused on the early detection of cancer through the use of Freenome's blood-based tests.
 
 
 Funding and Financials
 
 
 In January 2022, the company surpassed USD 1 billion in funding after receiving an investment from Roche amounting to USD 290 million, which was used to advance its CRC screening test and expansion of its multiomics platform to other cancers.
 
</div>

Reinventing gene therapies with next-generation technologies

Human Gene Editing

<div>
 
 Mammoth Biosciences develops CRISPR-based in vivo (gene editing done inside the body) therapeutics and molecular diagnostics for a variety of therapeutic areas including liver diseases, neurology, and immuno-oncology. Its offerings include 1) a CRISPR toolkit containing novel Cas enzymes and 2) DETECTR, a CRISPR-based diagnostic platform. The company also intended to build its own pipeline of therapeutics, but had not disclosed its programs as of 2022.&nbsp;
 
 
 The company built the CRISPR toolkit with a variety of Cas proteins including Cas12 and Cas13, identified by its protein discovery platform that leverages AI and exclusive metagenomic databases. Mammoth intended to use the toolkit for therapeutics and diagnostic applications based on different characteristics of the proteins. It believes its advantage lies in the Cas14 and Casɸ proteins, which do not originate from bacteria, thereby preventing immunogenicity risks, while the ultra-small sizes of the proteins enable simpler in vivo delivery.
 
 
 The DETECTR diagnostic test system uses CRISPR nucleases to identify specific gene sequences that indicate the presence of a disease. It reportedly has the ability to provide results within 20 minutes and is programmable based on any DNA or ribonucleic acid (RNA) target. One of Mammoth&rsquo;s CRISPR-based diagnostic tests was the DETECTR BOOST SARS-CoV-2 reagent kit, which received emergency use authorization (EUA) from the FDA in January 2022.&nbsp;
 
 
 Key customers and partnerships
 
 
 Mammoth secured a USD 695 million collaboration with 
 <a href="https://www.genengnews.com/news/vertex-mammoth-launch-up-to-695m-crispr-gene-editing-collaboration/">
 Vertex Pharmaceuticals
 </a>
 in October 2021 to leverage Mammoth&rsquo;s CRISPR systems to develop two disease indications put forth by Vertex. This marked the company&rsquo;s first collaboration relating to its therapeutics segment. In January 2022, the company secured another big pharma collaboration with 
 <a href="https://media.bayer.com/baynews/baynews.nsf/id/Bayer-and-Mammoth-Biosciences-to-collaborate-on-novel-gene-editing-technology">
 Bayer
 </a>
 to develop in vivo gene editing therapies using Mammoth&rsquo;s technology.&nbsp;
 
 
 The company&rsquo;s diagnostic partnerships include 
 <a href="https://www.fiercebiotech.com/medtech/gsk-taps-mammoth-biosciences-to-develop-a-crispr-based-over-counter-coronavirus-test">
 GlaxoSmithKline
 </a>
 (GSK) in May 2020 to develop a Covid-19 test and 
 <a href="https://www.labmanager.com/product-news/mammoth-biosciences-signs-agreements-with-milliporesigma-and-hamilton-company-targeting-commercialization-of-high-throughput-crispr-based-sars-cov-2-test-24485">
 MilliporeSigma
 </a>
 (a part of big pharma Merck) and Hamilton Company for the commercialization of DETECTR BOOST in November 2020.&nbsp;
 
 
 Funding and financials
 
 
 In September 2021, Mammoth Biosciences raised USD 195 million in funding, with USD 45 million in Series C and USD 150 million in Series D, lifting the company to unicorn status. The rounds were led by Redmile Group and Foresite Capital. The funds were earmarked to advance its clinical therapeutics pipeline and develop its CRISPR diagnostics.
 
</div>

The Public Health Company is developing the first global biosecurity platform to provide enterprises a SaaS-enabled service for the management of bio-risks. PHC combines world-class expertise with cutting edge technology to be the global solution to enterprise risk management. PHC focuses on intersecting physical world threats across diverse use-cases to deliver actionable and predictive intelligence that enables dynamic risk management with unprecedented speed and scale. It was founded in 2020 and headquartered in Palo Alto, California.

Syllable is an AI powered healthcare services company that transforms the way healthcare systems initiate and cultivate relationships with patients. Long call hold times, rerouted or dropped calls and misinformation can all contribute to a frustrating patient experience and make it cumbersome to access vital care quickly. Syllable helps patients navigate their journey to health with empathy, transparency and intelligence from the moment they request care by dialing the phone or visiting a healthcare system’s website. Founded in 2016, Syllable’s solutions are in use by some of the largest and most respected healthcare providers across America.

EQRx operates as a biotechnology company, focused on re-engineering the process from drug discovery to patient delivery with the goal of offering a market-based solution for the rising cost of medicines. By bringing together stakeholders from across the healthcare system and utilizing the latest advances in science and technology, the company seeks to discover, develop and deliver high-quality, patent-protected medicines more efficiently and cost-effectively than ever before. The company was founded in 2019 and is based in Cambridge, Massachusetts, United States.

Culture Biosciences develops automated bio-reactor that helps biotech companies optimize their manufacturing processes and brings products to market faster. The company also builds automated tools for fermentation. It has a digital bio-manufacturing platform to enable scientists to run, monitor, and analyze bio-reactors faster than traditional approaches by robotic sample handling and cloud data monitoring and analysis. Culture Biosciences was founded in 2016 and is headquartered in San Francisco, California.

Marvin is a virtual care platform that provides teletherapy and behavioral health services to healthcare workers. It works with hospitals and other healthcare organizations to provide care for their employees, providing teletherapy, meditations, and community programming specifically oriented towards their needs. The company was founded in 2020 and is based in Marina del Rey, California.

Genalyte, Inc. is a life sciences company developing and commercializing innovative next-generation multiplexing technology. Genalyte has developed a new approach to immunodetection using silicon chip manufacturing methods. Its Maverick platform uses a technology called silicon photonics to directly measure protein binding between antibodies and antigens or hybridization of nucleic acids.

Mammoth Biosciences is harnessing the diversity of nature to power the next-generation of CRISPR products. Through the discovery and development of novel CRISPR systems, the company is enabling the full potential of its platform to read and write the code of life. Mammoth Biosciences aims to democratize disease detection with an easy and affordable point-of-care test that allows real-time and simultaneous detection of multiple conditions.  By leveraging its internal research and development and exclusive licensing to Cas12, Cas13, and Cas14, Mammoth Biosciences can provide enhanced diagnostics and genome editing for life science research, healthcare, agriculture, biodefense and more. Based in South San Francisco, Mammoth Biosciences is co-founded by CRISPR pioneer Jennifer Doudna and principal founders Trevor Martin, Janice Chen, and Lucas Harrington. The firm is backed by top institutional investors including Mayfield, NFX, and 8VC, Decheng Capital and leading individual investors including Brook Byers, Tim Cook, and Jeff Huber. Mammoth has also been working on developing a rapid COVID-19 test.

Freenome is a biotech company developing accurate, accessible, and non-invasive disease screening products for proactively treating cancer and other diseases at their most manageable stages. The company is developing a simple blood test to detect early-stage cancer and make treatments more effective and provides a platform that helps design healthy conditions for an individual based on his/her cell-free genome. The company aims to reinvent disease management through systematized early detection and intervention.

Ciitizen’s mission is to provide Earth’s 7.3 billion citizens with control of their complete health information and give them the choice of sharing it with whomever they want. Period. With this new ownership, patients can share their health history with caregivers, share for second opinions, and with companies/researchers who may hold the answer to their treatment. All patients have a right to all of their health information, yet existing portals pull only minimal clinical information from a fraction of health care institutions. Current “interoperability” initiatives leave the patient out of the picture and often rely on armies of manual labor to extract key health insights from unstructured textual data—an expensive model which doesn’t scale. In the near future, citizens will walk into a clinical facility and, with a simple tap of a mobile device, release their health information to themselves, where Ciitizen normalizes unstructured data from across the healthcare ecosystem into actionable visualizations for patients, their caregivers, and clinicians. Ciitizen has assembled an all-star team, led by its CEO, Anil Sethi (last company was sold to Apple) and is backed by a strong investment team led by Andreessen Horowitz, Verily, Section 32 and others.

Cortexyme is a clinical stage pharmaceutical company developing therapeutics based on data supporting a new theory of the cause of Alzheimer's and other degenerative disorders. Cortexyme is targeting a specific, undisclosed pathogen tied to neurodegeneration. The target has been validated in a number of animal models and Cortexyme is currently testing several potential lead therapeutics in preclinical studies.

Insitro is an operator of a data-driven drug discovery and development company that utilizes machine learning and high-throughput biology to transform the way that drugs are discovered and delivered to patients. The company uses state-of-the-art technologies from bioengineering enabling it to generate high-throughput, functional genomic data sets and aligning them with patient data via novel machine learning methods, thereby building predictive models that can accelerate target selection and the design and development of effective therapeutics. In 2018, Daphne Koller established Insitro in South San Francisco, California..

Oscar is a health insurance company that offers individual and family plans, medicare advantages, and small group products. It employs technology, design, and data to humanize health care. The company offers plans to individuals, couples, and families living in parts of New York, New Jersey, California, and Texas who don’t receive health insurance from an employer. In 2012, Joshua Kushner, Kevin Nazemi, and Mario Schlosser headquartered Oscar Health in New York, New York.

Onduo is a digital healthcare company that uses data to help people with diabetes live their best life.

Verily is an Alphabet health technology company focused on research, care, and health financing to deliver on the promise of precision health and help people live healthier lives. We are uniquely positioned at the intersection of technology, data science, and healthcare to create tools to accelerate evidence generation, products to enable more personalized care, and approaches to make costs more predictable. For more information about Verily please visit verily.com. The company was founded in 2015 and is based in San Francisco, California, United States.

Verily, formerly known as Google Life Sciences, is a precision health company under Alphabet's umbrella. Founded in 2015, Verily leverages artificial intelligence, data science, and analytics to develop innovative healthcare solutions. The company's mission is to bring the promise of precision health to everyone, every day, by combining research, clinical, and non-clinical data to provide personalized healthcare interventions.
Verily's product portfolio includes several notable offerings. The Viewpoint platform is an end-to-end suite of tools and services that optimizes clinical research by improving evidence generation, clinical trial recruitment, and data analytics. Onduo, a virtual care management platform for patients with chronic conditions such as diabetes and hypertension, has shown significant improvements in patient outcomes. The company also developed the Study Watch, a wearable device for continuous monitoring and collection of digital biomarkers.
In the research domain, Verily's Precision Measures group focuses on obtaining high-resolution data through wearable devices and molecular profiling. The company's immune profiler work and pathology initiatives aim to leverage genetics and AI for better patient stratification and disease mechanism understanding. Verily has also ventured into the insurance sector with Granular, a stop-loss insurance company.
As of September 2022, Verily had raised a total of USD 3.5 billion in funding. The company's most recent funding round in September 2022 brought in USD 1 billion from its parent company, Alphabet. This investment was intended to support Verily's core initiatives in real-world evidence generation, healthcare data platforms, research and care, and underlying technology development.

Verily

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