This Week on Life Sciences Digital

Rock Health's Q1 2026 report shows digital health startups raised $4 billion across 110 deals in the first quarter of the year — up from $3 billion in 122 deals during the same period in 2025. Nearly sixty percent of that total came from just twelve transactions exceeding $100 million each. Average deal size reached $36.7 million, the highest since 2021. AI-related startups accounted for 54% of digital health funding, up from 37% the year prior. OpenEvidence, the AI platform for HCP clinical queries highlighted in last week's IQVIA analysis, closed a $250 million Series D in January — the single largest round of the quarter — led by Thrive Capital and DST Global at a $12 billion valuation, doubling from its October raise in under three months.

The structural story in this data is not the headline number. It is the distribution. Fewer deals, larger sizes, with a small group of platforms absorbing the majority of available capital. The digital health market is not growing evenly — it is polarising. Companies positioned as infrastructure, with embedded clinical workflows and recurring enterprise contracts, are attracting the capital. Everything else is competing for the remainder. That sorting mechanism has been visible in individual deals for months. Rock Health's Q1 data confirms it is now a market-wide pattern. For operators in the space, the question this report raises is not how much capital is available. It is which side of the concentration line you are on.

Visual summary generated with AI (NotebookLM).

Also This Week:

  • Tempus AI has significantly expanded its partnership with Gilead Sciences, granting the company enterprise-wide access to its Lens platform and anonymised oncology datasets across multiple cancer types. The collaboration now extends to trial design, biomarker strategy, real-world evidence generation, and clinical data analytics embedded across Gilead's full oncology R&D portfolio — broadening a previous agreement that had been limited to specific applications. Tempus reported 111.5% growth in its Diagnostics division in 2025, with its Data and Applications division generating $100.4 million in Q4 alone, up 25% year-on-year. The Gilead deal follows a similar enterprise-level adoption by Daiichi Sankyo the prior week. Two top-20 pharma companies converting to platform-scale access in consecutive weeks points toward a systematic adoption pattern rather than isolated deal activity.

  • Caris Life Sciences has unveiled a new AI-driven molecular insight tool through its CodeAI platform, designed to determine which non-small cell lung cancer patients will benefit from adding chemotherapy to immunotherapy — and which will not. The tool integrates whole exome sequencing and whole transcriptome sequencing data to categorise patients into risk groups and predict individual chemotherapy response. NSCLC is the most prevalent form of lung cancer, and the chemotherapy-plus-immunotherapy decision has historically rested on clinical assessment rather than tumour biology. Caris is moving that decision onto a molecular evidence base, with direct implications for both patient toxicity outcomes and treatment cost.

  • PathAI and MedStar Health have launched a multi-year partnership to implement the AISight Dx Digital Pathology Platform across MedStar's laboratory network. AISight Dx is FDA-cleared for primary diagnostic use and integrates slide management, AI-assisted review, and clinical workflow tools across a network serving over 40 pathologists. The deployment includes PathAI's ArtifactDetect algorithm alongside TumorDetect, currently designated for research use. The partnership extends an existing collaboration through PathAI's Early Access Program and is designed to lay the groundwork for ongoing research through MedStar's Precision Pathology Network.

Tool Spotlight from our Life Sciences Digital database

An AI-powered, ready-to-deploy quality and compliance solution for life sciences with built-in Salesforce integration.

Got a tool for life sciences you’d like more people to know?

Signals & Market Moves

  • Veeva Systems has announced a partnership with RegASK to embed predictive regulatory intelligence into its Regulatory Information Management platform. The integration delivers near-real-time updates on global regulatory changes, enabling pharma companies to manage compliance proactively rather than reactively. Veeva describes the move as part of a broader shift: transitioning the platform from a system of record to a system of action.

    The Signal: Two weeks after acquiring Ostro for $100 million, Veeva is now absorbing the regulatory intelligence layer through partnership. Both moves follow the same logic: pull the compliance and intelligence functions that pharma companies currently assemble from multiple vendors inside the Veeva platform. Point solutions in regulatory AI are operating in a market that the dominant commercial platform is actively consolidating around them. Each capability Veeva absorbs — whether through acquisition or integration — raises the threshold a competing vendor must clear to remain independently viable.

  • Beacon Reaches $132 Million in Total Capital to Scale AI Neurodiagnostics 🔗
    Beacon, a neurotechnology company backed by Google Ventures and Catalio Capital Management, has closed a $97 million Series B upsizing on April 6, bringing total cumulative funding to $132 million. The device monitors neural signals during sleep to assist in diagnosing conditions including narcolepsy and epilepsy, generating objective brain function metrics for pharmaceutical partners. Bristol Myers Squibb and Novartis have already adopted the platform. An expanded collaboration with Takeda is focused specifically on at-home sleep monitoring to accelerate the identification of sleep biomarkers for clinical trials.

    The Signal: Neurological diagnostics is following the same trajectory that oncology diagnostics took two years ago — wearable, continuously measured, AI-interpreted, and already embedded in major pharma development programs as a source of trial-grade evidence. The involvement of three top-tier pharma companies as early adopters, alongside Google Ventures' backing, makes this more than a hardware fundraise. Beacon is building the evidence generation infrastructure for a new category of neuroscience-adjacent clinical research, and the pharma partnerships suggest the category already has a market.

  • Guideways has launched a platform deploying three specialised AI agents — FDA Sherpa, FDA Reviewer, and FDA Researcher — to guide medical device teams through regulatory strategy development, submission review, and standards compliance. The platform draws on a curated database of over 150,000 FDA documents. Regulatory processes currently consume up to 75% of MedTech development budgets and delay market entry by between 31 and 66 months.

    The Signal: Agentic AI is now targeting the regulatory process itself — not the science behind devices, but the institutional knowledge required to move them through the approval system. The same pattern reshaping pharma compliance (Veeva + RegASK, Domino's agentic lifecycle release) is arriving in MedTech. If AI can compress a 31-to-66-month approval window by any meaningful margin, it may represent one of the highest-return applications of the technology in the sector. Guideways is early. The category it is building will not stay small.

Events & Calls

Pharma.AI Spring Kickoff 2026 — Webinar, April 14
Insilico Medicine is hosting a live webinar this Tuesday covering foundation models and specialised AI agents in pharmaceutical R&D. Topics include the MMAI Gym for Science optimisation framework, updates to PandaOmics for target discovery and Chemistry42 for small molecule design, and how integrated AI decision ecosystems are changing the structure of drug development workflows. Free to register.

Impact Challenge: AI for Science — Deadline April 17
Google.org's $30 million global open call closes this week. Selected organisations receive between $500,000 and $3 million alongside six months of pro bono technical support and Google Cloud credits. Life sciences and health AI are among the priority focus areas. The deadline is Thursday — for early-stage organisations and nonprofits, this is one of the most accessible funding mechanisms currently open.

Swiss Biotech Day 2026 — Basel, May 4–5
One of Europe's primary annual events for the biotech ecosystem, with over 3,000 attendees from 49 countries expected. The programme covers AI in R&D, financing strategy, and the launch of the Swiss Biotech Report 2026, alongside the Swiss Biotech Success Stories Awards.

🤝 Got a tool for life sciences you'd like more people to know about?

Submit your tool here.

Want to be featured in a future issue or explore sponsorship?
We highlight the AI tools, companies, and initiatives shaping the future of life sciences. If you'd like to collaborate, reply to this email or get in touch: [email protected]

Keep Reading