<div>
  <ul>
    <li>
      <p>
        Splitit, a BNPL service provider, has raised AUD 10.5 million (~USD 7.25 million) in funding through a private placement with institutional investors. The company&rsquo;s management team and board of directors contributed ~AUD 710,000 (~USD 490 million).
      </p>
    </li>
    <li>
      <p>
        The new funds are to be used to accelerate its product roadmap which includes scaling its white-label &lsquo;Installments-as-a-Service&rsquo; platform to new verticals including education.
      </p>
    </li>
  </ul>
  <p>
    <b>Analyst QuickTake</b>
    : Splitit diversified into the BNPL infrastructure space with the launch of Installments-as-a-Service in May 2022. The product was made available as an API embedded into the merchant&rsquo;s existing checkout process. In early August, it partnered with letus to bring its installment-as-a-service product to the property rental market. The new funding signals that the move towards infrastructure solutions has been a success.
  </p>
</div>


<div>
  <p>
    <a href="https://www.prnewswire.com/news-releases/splitit-completed-a-10-5-million-capital-raise-to-unlock-next-phase-of-white-label-installment-as-a-service-growth-plan-301621680.html">
      Press release
    </a>
  </p>
  <p>
    <a href="https://www.pymnts.com/news/investment-tracker/2022/splitit-drives-installments-as-a-service-growth-with-a10-5m-funding/">
      PYMNTS.com
    </a>
  </p>
</div>


Buy Now, Pay Later

Splitit raises AUD10.5 million to accelerate product roadmap

Foundation Models

PROMINENT_CATEGORY

<div>
 
 <p>The Japanese Prime Minister, Fumio Kishida, has set up an international system to regulate and utilize GenAI to ensure its safety and trustworthiness, preventing potentially detrimental uses of AI.</p>
 <p>This initiative will be carried out by The Hiroshima AI Process Friends Group, comprising 49 countries and regions. This group focuses on formulating principles and a code of conduct to navigate the risks associated with GenAI.</p>
  
</div>

Japanese Prime Minister introduces international framework for GenAI regulations

Reinventing gene therapies with next-generation technologies

Human Gene Editing

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 
 <p>Microsoft has imposed a restriction on US police departments, preventing them from utilizing GenAI for facial recognition via Azure OpenAI Service, which incorporates OpenAI's present and forthcoming image-analyzing models.</p>
 <p>This restriction is solely applicable to US police forces and doesn't extend to international law enforcement bodies. Moreover, it does not include facial recognition processes carried out with static cameras in controlled environments.</p>
 
</div> <p><b>Analyst QuickTake:<br>
 </b> The updated policy comes after Axon, a producer of tech and weapons products for military and law enforcement, launched a product that reportedly used OpenAI's GPT-4 generative text model to summarize audio from body cameras. Microsoft and OpenAI seem to be treading carefully in using AI technology in law enforcement and the military.</p>

Microsoft reaffirms ban on US Police’s use of Azure OpenAI Service

<div>
    <p>MedStar Washington Hospital Center has enrolled the initial heart patient from the US in the Phase III MAGNITUDE clinical trial of NTLA-2001. This clinical trial is led by Intellia Therapeutics and focuses on in vivo CRISPR-based therapy for patients who are suffering from transthyretin amyloidosis with cardiomyopathy (ATTR-CM).</p>
    <p>NTLA-2001 involves a single-use, intravenous gene editing therapy that employs CRISPR/Cas9 technology. This technology focuses on preventing the formation of abnormal transthyretin (TTR) protein. This protein leads to ATTR-CM, a condition wherein the TTR protein amasses in the nerves and heart, often leading to heart failure. The preliminary results of the Phase I and II clinical trials suggest that NTLA-2001 can lead to a substantial reduction in TTR protein levels.</p>
</div>

MedStar Health joins Intellia’s Phase III trial of CRISPR therapy for ATTR-CM

Pet ownership is at an all time high in the United States and the pet care economy is booming.

Pet Care Tech

<div>

<p>Wag!, a company providing on-demand pet care services, has launched a new insurance comparison platform named "WeCompare.com." </p>
<p>This platform is designed to offer a comparative analysis of various insurance types, initially focusing on auto insurance. There are plans for expansion into home, travel, and life insurance in the future.</p>
<p>Moreover, it will also offer educational and data-focused content to help users make informed insurance decisions.</p>

</div>

Wag! Introduces WeCompare.com, an insurance comparison site

A decentralized version of the web powered by the blockchain

Web3 Ecosystem

<div>
<p>Solana, a blockchain network, has joined forces with Google Cloud to introduce its Web3 gaming platform, GameShift, to Google Cloud customers. The partnership is designed to extend GameShift's worldwide access, improve user-friendliness, and simplify the usage of Web3 gaming technology. It's primarily geared towards game studios, providing them with the tools to smoothly incorporate Web3 capabilities into their gaming integrations.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Solana launched GameShift in <a href="https:<br>
//sp-edge.com/updates/20276"> July 2023 </a> to support developers build and port games into Web3. The platform provides developers with a single interface to create a complete Web3 game, including custody solutions, marketplaces, inventory management, NFT minting, and credit card on-ramps and off-ramps. In addition, it includes new and existing third-party tools to assist in building Web3 games.</p>

Solana Labs and Google Cloud partner to improve blockchain game development

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

Neo Insurance

<div>

<p>Wag!, a pet care services provider, has launched a new insurance comparison tool named "WeCompare.com." The platform offers a comparative view of various insurance types, initially concentrating on auto insurance. The company aims to include the home, travel, and life insurance areas in the future. WeCompare.com will also present educational and data-focused content to help users make educated insurance decisions.</p>

</div>

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

Psychedelic Medicine

<div>
 
 <p>Compass Pathways and Mindful Health Solutions have established a research collaboration. The partnership aims to investigate a scalable delivery model for the COMP360 psilocybin treatment for treatment-resistant depression, a subject currently under the consideration of the FDA. </p>
 <p>In this collaboration, both parties will share insights regarding the delivery model of the COMP360 program. The primary focus of this research will be on examining patient journeys, identifying existing challenges, and developing solutions. Mindful Health Solutions will be trained in Compass' support model and will conduct research on the requirements for therapist training. They will additionally evaluate treatment room configurations, site activation, and coding/reimbursement procedures for psychedelic treatments. </p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 This marks Compass Pathway’s fourth collaboration this year in support of its product development initiatives. Previous partnerships include 1) Journey Clinical to develop a deployment and training model for COMP360 ( <a href="https:<br>
//sp-edge.com/updates/28939"> April 2024 </a> ), 2) Hackensack Meridian Health to support research efforts using psilocybin in mental health treatments ( <a href="https:<br>
//sp-edge.com/updates/25618"> January 2024 </a> ), and 3) Greenbrook TMS to explore delivery models for COMP360 ( <a href="https:<br>
//sp-edge.com/updates/25237"> January 2024 </a> ).</p>

Compass Pathways and Mindful Health Solutions collaborate to research on scalable psilocybin treatment model

<div>
 
 <p>Toronto-based psychedelic therapy company, Reunion Neuroscience, has secured USD 103 million in a Series A funding round. The financing was co-led by MPM BioImpact and Novo Holdings, and included participation from Arkin Bio Capital, Mitsui &amp; Co. Global Investment, Plaisance Capital, FemHealth Ventures, among others.</p>
 <p>These new funds will be notably used to support the company’s “RECONNECT” Phase II clinical trial for RE104, a psychedelic drug candidate developed for the treatment of postpartum depression. The company also plans to deploy funds to expand into other psychiatric indications. The results from the clinical trial are anticipated to be publicized in the second quarter of 2025.</p>
 
</div>

Reunion Neuroscience raises USD 103 million in Series A funding for RE104 clinical trial

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

Preventive Healthcare

<div>
 
 <p>Thyme Care, a chronic care-focused management company has established Enhanced Supportive Care services, an online palliative care program to support members and caregivers. Julia Frydman has been named the program's first medical director for palliative care.</p>
 <p>This innovative program aims to help eligible patients and their caregivers navigate the challenges of cancer, offering assistance with physical and psychological symptoms. It features detailed medical decision-making advice, alignment of patient goals and values with treatment plans, regular interaction with patient oncologists, and clinical oversight and mentoring for the care team. Thyme Care is also looking to increase its clinician workforce by hiring nurse practitioners by year-end.</p> 
 
</div>

Thyme Care launches virtual palliative care program; appoints medical director

<div>
<p>Livara Health, previously known as SpineZone, is a virtual musculoskeletal (MSK) care management platform. It has successfully procured USD 15 million in a Series B funding round, with A1 Health Ventures, Polaris Partners, Providence Ventures, and other investors leading the contribution. This funding has increased Livara Health's total capital raised to USD 27 million. The newly acquired funds are planned to be used for augmenting the company's technological and clinical proficiencies.</p>
</div>

All Updates

Japanese Prime Minister introduces international framework for GenAI regulations

Microsoft reaffirms ban on US Police’s use of Azure OpenAI Service

MedStar Health joins Intellia’s Phase III trial of CRISPR therapy for ATTR-CM

Wag! Introduces WeCompare.com, an insurance comparison site

Solana Labs and Google Cloud partner to improve blockchain game development

Wag! Introduces WeCompare.com, an insurance comparison site

Compass Pathways and Mindful Health Solutions collaborate to research on scalable psilocybin treatment model

Reunion Neuroscience raises USD 103 million in Series A funding for RE104 clinical trial

Thyme Care launches virtual palliative care program; appoints medical director

Livara Health raises USD 15 million in Series B funding to enhance platform capabilities