The big news: U.S. drugmakers were impacted after the Trump Administration replaced the Food and Drug Administration’s top vaccine official, Reuters reports, alongside fears that newly enacted tariffs would include drugs, which have typically been exempted.
On the move: Workplace mental health platform Modern Health appointed Matt Levin as Chief Executive Officer. Founder and former CEO Alyson Watson will transition into the role of Executive Chair of the Board.
The buzz: There’s a “quiet gold rush” in AI-powered medical devices, according to a report by Equity Insider, with companies including Apple, Amazon, and GE Technologies rushing into the space. Billionaire Bill Gates recently predicted that AI will make medical advice free and commonplace.
On the rise: Drug-discovery company Isomorphic raised $600 million in its first external funding round. The financing round was led by Thrive Capital, with participation from GV, and follow-on capital from existing investor Alphabet.
What’s next: Cuts at the Department of Health and Human Services under Robert F. Kennedy Jr. could adversely affect health tech companies, Politico reports. Approximately 10,000 workers are expected to lose their jobs on May 27.
