Meet the drug industry's newest 'mega biotech'

Hello,

Welcome to Insider Healthcare. I'm healthcare editor Leah Rosenbaum, and today in healthcare news:

• Arch Venture Partners is launching a new neuroscience mega biotech;
• Twin Health raised $140 million to treat metabolic conditions;
• Health insurers say that primary-care telehealth saves them money.

If you're new to this newsletter, sign up here. Comments, tips? Email me at lrosenbaum@insider.com or tweet @leah_rosenbaum. Let's get to it...

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Transcranial Electrical Stimulation therapy uses electrodes to try to induce deep sleep

Getty Images

A new startup created by one of biotech's biggest VCs shows you either need to go big, or go home to treat brain disorders

• Arch Venture Partners launched neuroscience startup Neumora on Thursday with $500 million in capital
• It's part of the firm's push to make big investments in overlooked parts of the drug industry
• Neumora is the latest company to join the ranks of mega biotechs

Get the whole story>>

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Twin Health cofounder and CEO Jahangir Mohammed.

Twin Health

See the 14-slide presentation that convinced ICONIQ and Sequoia to lead a $140 million investment in a startup focused on treating metabolic conditions

• Twin Health, a startup focused on metabolic conditions, raised $140 million in funding on Wednesday.
• ICONIQ led the round with Sequoia, which valued the company at $740 million.
• Twin Health uses a "digital twin" to treat metabolic conditions like obesity or diabetes.

See the slides>>

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A patient visits with an Oscar Health virtual primary-care doctor.

Oscar Health

Seeing a primary-care doctor online is getting easier, and health insurers say it's saving money

• Many insurers and telehealth companies launched virtual primary-care programs amid the pandemic.
• Some say they're starting to see promising results, like improved health outcomes and lower costs.
• They're betting that the future of primary care is virtual.

Check it out>>

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More stories we're reading:

• The WHO recommends the world's first malaria vaccine, saying the shots could 'save tens of thousands of young lives each year' (Insider)
• A Texas man has been sentenced to more than a year in prison for posting a COVID-19 hoax (CNN)
• Fauci rails against 'dark web people' harassing his wife and daughters with violent threats (Insider)
• A new brain implant helped relieve symptoms in a patient with severe depression (STAT)

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-Leah

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