Nick Damiano

As the discourse shifts from models to compound AI systems / agents, we need better AI benchmarks to evaluate multi-modal and multi-step task performance, especially in healthcare and life sciences. When we wrote the first paper demonstrating ChatGPT's performance on the USMLE, we chose the US Medical Licensing Exam as a benchmark for accessibility, speed, and ease. This benchmark was never intended to represent AI model performance on real-world clinical tasks. Today, I still see so many research teams and startups using benchmarks (like the USMLE) that are ill-fitted for assessing the true clinical or scientific performance and utility of the models they are developing for real-world contexts. Benchmark development may be seen as a "less sexy" area of research, but it is of paramount importance. Years after the rise of the transformer, we still lack adequate benchmarks for so many single-step tasks in biomedicine. With compound AI systems (i.e., architectures that integrate multiple AI models to perform complex tasks) emerging, we need new benchmarks for agentic behaviors. I'd argue that developing an agent with novel capabilities without at least proposing a companion benchmark (if an industry standard does not yet exist) may hinder the adoption of said agent, especially for high-stakes workflows. Designing more benchmarks that capture/simulate real-world clinical and scientific workflows will help us mitigate the major discrepancies observed between in silico and in vivo performance and better support safe + effective deployment of AI in biomedicine. There are already brilliant people focused here, and we need more. DMs are open if you're researching or working in this area of multi-step/multi-modal benchmarking in healthcare and life sciences! #healthcare #ai #artificialintelligence #generativeai

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Some VC investors believe that brick and mortar - referring to a physical presence of some kind - should be avoided at all costs. Yet, the track record of clinic and hybrid care businesses in health care indicates otherwise. ==> One Medical (sold for $3.9 billion to Amazon), Oak Street (bought by CVS for $10.6 billion), Lifestance (IPO at $7.5 billion market cap), and PE-backed Premise Health (acquired by OMERS Private Equity for $1.1 billion) If a clinic is indicated as the optimal way to deliver care for that patient population, there are creative ways to build and operate them. Full article below with advice and strategies on how to build and operate hybrid clinics from my teammate Anarghya Vardhana from Maveron, Amir Dan Rubin from OneMedical Group, Steven Eidelman from Modern Animal and more!

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AI Tech in Focus   Non-Invasive Way to Monitor Brain Swelling in Critical Care Patients Researchers at Johns Hopkins University have developed a new machine learning algorithm that measures intercranial pressure (ICP) in patients with acute brain trauma. Currently ICP readings are taken by drilling a hole in the skull and inserting a catheter which reads waveform information to determine if brain swelling has reached critical levels. The procedure is invasive, requires a surgical team and can only be performed in an operating room, ICU or emergency department. In developing the AI system, researchers used three sources of waveform data (arterial blood pressure, electrocardiogram readings and pulse oximetry recordings) which are continually collected from ICU patients. Those data were used to train six different algorithms to predict ICP levels. The AI generated method is as accurate as the surgical method in determining ICP and allows for continuous, real-time, non-invasive readings that could spare patients from risky surgery Further, it can be used to monitor ICP in various care settings outside of ICUs. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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AI and Med Tech in Focus   AI System Developed to Identify Pathology in Tissues Engineers at Washington State University have developed an AI tool that uses images of human and animal tissue to detect abnormalities faster and more accurately than people. The AI algorithm was trained using images from past studies that involved kidney, testes, ovarian, prostate, breast and lymph node abnormalities. The new model detected disease in minutes—current processes take humans several hours and require specialized teams to check each other’s work. It was also found to be more accurate, sometimes detecting instances that humans had missed. The engineers designed the system to handle the processing load of the high-resolution gigapixel images by breaking them down into smaller tiles but still retaining the overall context of the tissue sample—akin to the zoom feature on a microscope or phone camera. Aside from getting diagnostic results more accurately and quickly, the new system also shows promise in epigenetics (the study of molecular processes that change gene behavior without changing underlying DNA). Epigenetic researchers can perform analyses and get results that used to take a year or more in just a couple of weeks. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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"Digital health is no longer the future; it is the present, reshaping our healthcare landscape in real-time." Excited to be part of the UCSF Digital Health Hub Foundation's Quarterfinalist Party! As a past board member, I'm honored to celebrate the outstanding quarterfinalists. As we reflect on the state of digital health in 2024, it's evident that the COVID-19 pandemic has fundamentally transformed healthcare delivery. The rapid adoption of telemedicine during the crisis has become a permanent fixture, with over 60% of physicians continuing to utilize this technology. The sprint towards smarter healthcare, catalyzed by necessity, has shattered preconceptions about digital-first health experiences. Virtual care is no longer a stopgap but an integral part of a seamless, anytime, anywhere health ecosystem. 🌍 We're witnessing the rise of B2B2C models in remote consultations, with companies like Teladoc Health and Amwell partnering with insurance providers to integrate their services into health plans. Public sector collaborations, like eConsult Health 's partnership with the NHS in the #UK, underscore the potential for remote consultations to enhance efficiency and accessibility at a national level. The digital health landscape is evolving rapidly, with advancements in remote consultations, mental health support, at-home diagnostics, and patient monitoring. AI and generative AI transform care delivery, making it more efficient, personalized, and patient-centric. 🤖 Yet, challenges remain. While venture capital funding for digital health has stabilized after the pandemic boom, it remains below its 2021 peak. Sectors like digital therapeutics face reimbursement hurdles, and we've seen major players like Walmart and Optum close telehealth businesses. Looking ahead, we anticipate further consolidation in digital health, driven by acquisitions to create broader ecosystems encompass telemedicine, mental health, and other specialized services. As healthcare leaders, we must leverage these digital advancements to improve access, enhance patient outcomes, and drive efficiency in our healthcare systems. The future of healthcare is digital, and the time to embrace this transformation is now. Congratulations to all the finalists! 🎉 Looking forward to the grand finale at #HLTH2024 in #LasVegas! 🙌 By the way, the pink drink that we were holding was delicious—and nonalcoholic! The Digital Health Hub Foundation - Digital Health Awards #HealthcareInnovation #DigitalHealth #UCSFHealthHub #Networking #HealthTech #Entrepreneurship #LasVegasFinale Walter Greenleaf, PhD Daniel Kraft, MD Unity Stoakes StartUp Health University of California, San Francisco UCSF Innovation Ventures American Association for Precision Medicine (AAPM) WISE World Investors & Entrepreneurs Society #AAPMhealth #aapm_health

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AI and Med Tech in Focus   AI System Developed to Identify Pathology in Tissues Engineers at Washington State University have developed an AI tool that uses images of human and animal tissue to detect abnormalities faster and more accurately than people. The AI algorithm was trained using images from past studies that involved kidney, testes, ovarian, prostate, breast and lymph node abnormalities. The new model detected disease in minutes—current processes take humans several hours and require specialized teams to check each other’s work. It was also found to be more accurate, sometimes detecting instances that humans had missed. The engineers designed the system to handle the processing load of the high-resolution gigapixel images by breaking them down into smaller tiles but still retaining the overall context of the tissue sample—akin to the zoom feature on a microscope or phone camera. Aside from getting diagnostic results more accurately and quickly, the new system also shows promise in epigenetics (the study of molecular processes that change gene behavior without changing underlying DNA). Epigenetic researchers can perform analyses and get results that used to take a year or more in just a couple of weeks. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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🚀 Breaking News: We're Investing in the Future of Healthcare with Curexel Technologies! 🚀 Am happy to announce our first "zero-to-one" stage investment in Curexel Technologies (https://curexel.com/), a groundbreaking company at the forefront of healthcare innovation. Some of the firsts in this deal, as an early stage investor are: · First investment in #Healthcare devices · Worked zero-to-one stage with founders · Working with the founders on product feasibility, manufacturing partners, distribution partners and overall GTM of the product · Partnered with Asutosh Upadhyay as a co-investor for this deal who brings a wealth of experience in early stage investing and global partner network · Engaged with legal adviser Disha Toshniwal for setting up the company legal framework, cap table etc for us to come onboard with the #firstcheque What is Curexel solving? Curexel's vision is to accelerate medical device based research and build patents towards development of novel drug delivery products and engage with industry to enable distribution and commercialization. The first product is to build an "Intradermal Painless Injection" device which will solve for unreliable delivery, pain induced due to tangential insertion and high degree of skill required by the nurse, using current injection devices. Top 3 key use cases for intradermal injection devices are:  1.    Vaccinations: Intradermal injections are used for certain vaccines, including the Bacillus Calmette-Guérin (BCG) vaccine for tuberculosis and certain influenza vaccines. 2.    Allergy Testing: Intradermal testing is common for detecting allergies in children. This method allows for precise administration of allergens to observe reactions safely. 3.    Local Anesthesia: Intradermal injections are often used to administer local anesthetics before minor procedures or intravenous insertions. Market Opportunity: The global intradermal injection market size was valued at US$3.8 Billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.8% from 2022 to 2032 We look forward to supporting Curexel founders Kedar Badnikarvasudha nShreyas N J in their mission to bring innovative and painless drug delivery products for consumers worldwide. If you are keen to partner with Curexel in this journey or if you are keen to invest in their upcoming pre-seed round, please DM. Stay tuned for more updates on this exciting journey! #medicaldevices #healthcare #medicine #enterpreneurship #innovation #startups #venturecapital #investing #technology

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Incredibly excited to share our updated Healthcare AI thesis. This is not a market map – in 4,000 words, we dive deeply into the research, products, business models, and market entry points that are reimagining healthcare with AI. More specifically, we cover: • Translating AI research into real-world products • Mapping modalities (software, copilots, agents, services, diagnostics, therapeutics) to problems in healthcare • Designing AI business models that unlock billion-dollar markets • Closing current gaps in healthcare AI infrastructure • Distinguishing AI platforms from point solutions Let us know what you think ⤵️

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Good Q&A with Dash Bio co-founders on their story going from Moderna to a startup and how they intend to use AI and robotics to transform clinical bioanalysis https://lnkd.in/gmmiq4dQ

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The (Healthcare) Ground Beneath Our Feet… This year it is likely that over $10 billion will be invested in the digital health sector – a robust amount, no doubt, but inconsequential when compared to the amount of capital tied up in healthcare real estate assets, which is estimated to be $1.2 trillion by Jones Lang Lasalle. Of that amount, approximately $790 billion is in the hospital sector while the remaining $490 billion is in medical office assets. It is estimated that there are 48.6k facilities with 3.4 billion square feet of healthcare real estate, 42% of which are owned by REITs and another 33% held by other private investment vehicles. Much of the digital health investment is meant to make the physical healthcare infrastructure more productive: greater operating efficiencies, greater patient throughput, more relevant personalized care models with better outcomes. As the healthcare system is being pushed to be more distributed to lower cost sites of care, accelerated now by the rapid proliferation of automation and AI capabilities, the potential impact on healthcare infrastructure assets will be profound. Thoughts on what that might look like... https://lnkd.in/eTfAdUbS #digitalhealth Flare Capital Partners

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Hot off the pre-print server – an important publication authored by the Atropos Health team exploring the performance of LLMs in answering real-world clinical questions. LLMs excel at summarizing and contextualizing existing literature, but cannot generate de novo medical evidence today. The results of the study highlight performance gains attributable to injecting novel, relevant, and up-to-date medical evidence into LLM-powered clinical decision support systems. Brigham Hyde Nigam Shah Saurabh Gombar Read the study here: https://lnkd.in/ecuU25Pq

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The most talked about AI x Medical startup Abridge is working to rescue doctors from the never-ending admin grind (which causes burnout and less patient face-time). Abridge's AI listens to patient visits and generates precise medical notes, slashing the clerical workload. Now, doctors can focus on what truly matters: patient care. Major health systems like Yale and Emory are already on board and raving, calling it "life-changing" and "magical." 🔷 A big reason --> Payback of the scribe tool is easy to measure. It supports 14 languages including Haitian Creole, Brazilian Portuguese, and Punjabi. An ongoing criticism of generative AI is that it still has few substantive business applications. This seems to quash that. Question: is a dedicated medical LLM needed to be successful in the space? Or will the huge foundational models (GPT-4o, Google, and Meta) ingest a plethora of medical notes and kill the competition with performance? We're dealing with a fast and furious pace, and today's edge may not be relevant tomorrow. Competitors include Microsoft-owned Nuance Healthcare , Ambience Healthcare, Nabla and Suki. I'm excited to continue to see this field revolutionized. 🌟 #AI #MedTech #Abridge #HealthTech

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Though benchmarks for medical AI are still imperfect, there's no question that AI will continue to march towards diagnostic excellence. These trends will place greater emphasis on physician-scientists – those who advance medical knowledge via closed loop clinic/lab interfaces, which can then feed back into large-scale AI systems that serve entire populations. This was all part of the OG vision for the learning health system. source: https://lnkd.in/eh2RM72s

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Excited to announce our investment in Tuva Health! Aaron Neiderhiser Jorge (Coco) Zuloaga As access to healthcare data (claims, EHR, HIE, labs, etc) increases with recent regulatory/policy changes and technical advances, healthcare data teams are more focused on data transformation to bring healthcare-specific business logic and context to their data. Today, healthcare data teams spend 80% of time cleaning vs. analyzing data while wasting $1M+ per year in resources. Tuva's open source approach provides a hybrid model to the current build vs. buy paradigm - leverage Tuva’s open-source data model and data pipelines to transform your claims and clinical data inside your own data warehouse. More below 👇

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AI and Med Tech in Focus   AI Used to Assess IVF Embryo Quality Researchers at Weill Cornell Medicine have developed a novel machine learning system called BELA that can accurately assess the chromosomal quality of IVF embryos using time lapsed images and maternal age. The system distinguishes whether an embryo has normal or abnormal numbers of chromosomes and is not based on subjective interpretation. Currently, IVF embryos are manually examined under a microscope and if a problem is suspected, a more risky biopsy-like procedure is done. BELA uses machine learning algorithms to analyze nine time-lapsed video images taken over five days to generate an objective score. That score is coupled with maternal age to predict whether the chromosomes are normal or abnormal. BELA results have been shown to be more objective, accurate, efficient and predictive. It is hoped that the system could be used to expand the availability of IVF to areas that don’t have access to current high-end testing and have efficacy to assess more general embryonic development. VC Investors are always adjusting their "Play Book" with a variety of options for investing. Mikal Ventures is one of those alternatives, offering curated solutions to real world problems. Reach out if you have questions on how we can be of assistance and bookmark https://mikalventures.com/ for additional insights and information.

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🎉🎉 It is a great honor to welcome Dr. Andrew Trister, MD PhD, Chief Medical and Scientific Officer at Verily, as the Keynote Speaker for 2025 #H7 JP Morgan Investment Forum & Demo Day! ⭐ The topic that Andrew will be discussing at the event is “AI Applications in Healthcare.” Dr. Trister will explore the evolution of AI tools in medicine, their historical applications, and the transformative potential they hold for the healthcare landscape in 2025 and beyond. Get ready for an enlightening session! 📣 More about Andrew Trister, MD PhD: Andrew Trister is the Chief Medical and Scientific Officer at Verily where he leads the company’s research, science and population health initiatives, providing expertise across Verily’s portfolio as the company furthers its precision health strategy. Previously, Andrew served as the Deputy Director of Digital Health and Artificial Intelligence at The Bill & Melinda Gates Foundation where he led the Foundation’s development and investment in digital health and artificial intelligence to address global health inequities. Prior to that, Andrew was a founding member of Apple’s Health team, where he led clinical research and machine learning with Apple partners. 🎯 Register today or before January 13th: https://lu.ma/ocy5vyc6 🔔 Call for Pitch Application 🔔 ​If you are interested in pitching in the International Roadshow on the evening of Jan 13th, please contact us at [email protected] for more details. Lisa Kinsella, David Mead, John Ashley, Shian-Jiun Shih, Kevin Shrock, Joshua Park #healthcare #AI #Precisionmedicine #lifesciences #medtech #ai #fundraising #vc #tech #pitching #biotech #accelerator #venture #unicorn #exit #startup #entrepreneurship #siliconvalley#technology #success #growth #strategy

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Why Physicians Should Consider Investing in HealthTech Venture Funds As a physician deeply entrenched in the world of healthcare, I've observed firsthand the transformative impact of technology on our industry. From telemedicine to AI-driven diagnostics, the pace of innovation is staggering—and it’s only accelerating. Today, I want to share why we, as physicians, should consider investing in HealthTech venture funds 👇 - Driving Innovation: By investing in HealthTech funds, we're not just placing capital; we're actively propelling the future of medicine. Our investment helps fund the technologies that could one day revolutionize patient care and our daily medical practices. - Insider Expertise: Who better to understand the potential of a new medical technology than those of us in the field? Our clinical experience enables us to assess the feasibility and potential impact of innovations, making us well-suited to make informed investment decisions. - Spreading Impact Beyond Practice: While we impact lives daily through direct patient care, investing in a HealthTech fund allows us to extend our influence by supporting solutions that reach a global patient base, potentially benefiting millions. - Financial Returns: HealthTech is one of the fastest-growing sectors, and investing in this area offers a valuable opportunity for substantial financial returns. Diversifying our portfolios beyond traditional stocks and real estate into venture funds can offer a unique balance of risk and reward. - Personal and Professional Growth: Engaging with the startup and tech ecosystem exposes us to new ideas and business strategies, broadening our horizons beyond clinical practice. This can lead to professional growth and networking opportunities that may not otherwise arise. I encourage my fellow healthcare professionals to look into HealthTech venture funds as a way to participate in the broader spectrum of healthcare innovation. Our expertise and capital can play a crucial role in shaping the future of the industry. ---- To join our vibrant community of 2,000+ healthtech experts and thought leaders, click the link in my profile bio.

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🌟 7 Crucial Elements for Scaling Startups to Successful Exits 🌟 Reflecting on my recent experience at the OPEN Silicon Valley Forum in Santa Clara, some of us engaged in a deep discussion on what repeatedly drives startups from inception to successful exits. Our collective experience pointed to these seven essential elements: 1️⃣ Timing is Everything: Ensure the market and technology are ready for your solution. Being too early or too late can hinder success. 2️⃣ Align with Your "Why": Success requires internal motivation. Knowing your “why” keeps you resilient and purpose-driven. 3️⃣ Master the Problem, Not Just the Product: Deep understanding of the problem is far more critical than focusing solely on a product or idea. 4️⃣ Define Culture from the Start: The first five hires set the tone. Invest in "A" players who embody the culture you envision. 5️⃣ Obsess Over User Experience: A relentless focus on user experience can make or break your product’s adoption. 6️⃣ Build for Scale from Day One: Architecting for growth is not optional—it’s essential for long-term success. 7️⃣ Map Out Your Go-to-Market Strategy Early: Before building, have a clear thesis on how to generate revenue and achieve product-market fit. These principles are tried and true across multiple industries. If you’re launching a startup or scaling a business, how do these resonate with your experience? What would you add to the list? #startups #entrepreneurship #growth #scaling #productmarketfit #OPENsiliconvalley #innovation #founders Tashfeen Suleman Amer Haider Umair Khan Junaid Qurashi Wardah Inam

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Forget about flashy revenue projections or $100B market size, it’s all about the go to market strategy. Early stage healthcare investors need to understand how a company navigates the 0 to 1 phase of the commercialization journey. Otherwise, 0% of a $100B market...is still worth zero dollars. Here are some questions we at The Healthcare Syndicate like to ask founders: (h/t to Omar M. Khateeb for the excellent video on early market adopters) 1️⃣ Capturing 1% of the market? Why not 15%? Capturing 15% of the market, not just 1%, is critical for crossing the chasm from early adopters to the mainstream. Investors should evaluate the founder's ambition to capture a significant part of the market, and ask how they plan to get from early adopters --> mass market. 2️⃣ How will you [the founder] lead sales? In the early stages, emotional appeal and vision drive sales to market innovators. A corporate sales hire might scale later, but a founder’s passion resonates best with first movers. 3️⃣ Are you leveraging your early adopters properly? Innovators are essential for early traction, but they’re not the best advocates for the mainstream market. Startups must nurture innovators into credible key opinion leaders (KOLs) to gain mass-market acceptance. For more insights, check out the full article here: https://lnkd.in/gyfzfxjv #healthcareinnovation #venturecapital #angelinvesting

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