Can you tell us a bit more about what HSBC Innovation Banking is, and what the organisation is aiming to bring to the health tech space?

HSBC Innovation Banking is a commercial bank that provides flexible banking solutions designed specifically for start-ups, scale-ups, investors. We bring a wealth of experience and expertise to the table, and thanks to our position as part of HSBC, we remain committed to supporting innovation and driving growth in sectors that are shaping our future, including health technology (HealthTech), around the world.

Within the health tech arena, HSBC Innovation Banking aspires to provide holistic financial solutions tailored to the distinctive challenges faced by companies navigating this innovative field. Recognising the nuanced needs of HealthTech enterprises at various stages of development, from inception to maturity, HSBC Innovation Banking endeavors to streamline access to capital, offer customised financing options, and facilitate connections within global networks. This commitment ensures seamless growth opportunities for HealthTech visionaries.

HSBC Innovation Banking has a wide perspective across the innovation economy. What do you think are the key trends or technologies reshaping the health tech space?

The health tech landscape is evolving rapidly, and we at HSBC recognise the key trends and technologies that are reshaping this dynamic sector. AI, Big Data and Analytics will enable the digital transformation of healthcare. By staying abreast of these innovations, we aim to provide unwavering financial support to HealthTech companies propelling positive change in the industry.

Over the past few years, Europe has been “catching up” to the US in terms of activity, if not scale. Do you see that trend continuing?

Maybe. Europe is a region with a diverse economic landscape, comprising advanced economies at the forefront of competitiveness, innovation, and productivity, as well as economies that are still in the process of catching up.

There are a few challenges for the European pre-seed companies, that are related solely to the traction they have in their countries so scaling to the US may prove to be difficult. What makes scaling to the US complicated is the lack of consistent transatlantic investors between US and Europe, which contributes to Europe’s post-Series A chasm.

What’s the reality to work with Pharma?

Drawing from my background in the pharmaceutical industry, I want to shed light on the challenges of navigating procurement processes within large enterprises. It’s crucial to understand that having just one primary source of revenue, especially from pharmaceutical giants, can pose significant risks. The multifaceted nature of how pharmaceutical companies operate, along with the potential challenges in payment dynamics, adds a layer of complexity that necessitates a thoughtful approach.
From a banking standpoint, a healthcare company with fluctuating revenues from a government might be perceived differently than a consumer-focused company with more predictable metrics.

What are the key criteria applying when you evaluate digital health companies?

When evaluating digital health companies for financing, I apply several essential criteria, with one prominent factor being the presence of multiple revenue sources. This criterion plays a crucial role in reducing risk and promoting the development of resilient revenue models.
Diversifying revenue sources is strategically important for digital health companies due to the industry’s ongoing evolution. Understanding diverse several revenue streams and actively mitigating risks through diversification becomes vital for long-term success. Encouraging companies in the digital health space to explore and establish multiple revenue streams not only enhances their appeal for financing but also fosters the growth of robust businesses capable of thriving in a dynamic and ever-changing landscape.
When digital health companies  demonstrate at least three distinct revenue sources, HSBC Innovation Banking is likely more able to support these potentially more resilient business models. This criterion may act as a de-risking lever, helping companies fortify their revenue models and build stability in their operations. By encouraging the establishment of multiple revenue streams, we aim to improve the attractiveness and resilience of these companies, enabling them to navigate the evolving landscape of the digital health industry successfully.

What do you think “health” will mean 10 years from now?

In the next 10 years, the concept of health will undergo a transformation, encompassing more than just the absence of disease. While the fundamental definition of health will remain the same, there will be a shift towards a more holistic approach.

I firmly believe that health extends beyond medical diagnoses and treatments. It will be seen as an integral part of everyday life and decision-making processes. To achieve this, we need to work towards an integrated care model where individuals receive information about their health rather than simply providing it. This approach goes beyond the traditional “patient-centric” model and embraces a proactive and participatory approach to overall well-being.

In this future vision of health, individuals will have access to a wealth of information, tools, and technologies that empower them to make informed decisions about their own health. It will involve a collaborative effort between healthcare providers, technology innovators, and individuals, working together to optimise health outcomes.

At the forefront of this evolution is Debiopharm Innovation Fund, a corporate venture fund within the Debiopharm Group. We explore the fund’s mission, recent initiatives, and insights gained at the Frontiers Health conference in Rome, where Nicole Raleigh met with Marc Cikes, Managing Director, and Tom Gibbs, Senior Investment Director.

Digital Solutions for Pharma R&D

Debiopharm Innovation Fund strategically positions itself as a key player in the digital health space, concentrating on digital solutions that span from late discovery to clinical trial technologies. Marc Cikes emphasized the fund’s commitment to innovation, especially in the oncology patient journey. With two compounds currently setting the standard in cancer treatment, Debiopharm leverages its expertise to invest in solutions that redefine the landscape of pharmaceutical research and development.

Seeding Innovation in Challenging Times

Despite economic challenges, Debiopharm Innovation Fund recently launched a seed initiative, a move that raised eyebrows in the investment landscape. Tom Gibbs sheds light on this strategic decision, highlighting the fund’s agility as a privately owned entity. The initiative aims to make numerous small investments rapidly, building a substantial portfolio that encompasses cutting-edge innovations at their early stages.

Strategic Alignment for Accelerated Innovation

As a strategic fund, Debiopharm Innovation Fund aligns its investment thesis closely with its core business objectives. The focus is not only on financial returns but also on investments that bring innovation into the Debiopharm Group. Tom Gibbs underscores the importance of accelerating the delivery of better treatments to patients, emphasizing the fund’s unique role in bridging traditional pharmaceutical approaches with the dynamic landscape of digital health.

Frontiers Health Conference Insights: Maturity and Realism in Digital Health Startups

The Frontiers Health conference, a prominent gathering in the digital health realm, provided a platform for Debiopharm Innovation Fund to observe and engage with the latest trends. Cikes notes a significant trend in the increased maturity of startups. Unlike in the early days, startups are now more pragmatic, considering regulatory, reimbursement, and adoption challenges early in their development. This realistic approach positions them for long-term success in an industry known for its complexity and conservatism.

Gibbs echoes these sentiments, emphasizing the impressive realism exhibited by startups, particularly on themes like artificial intelligence. The showcased products demonstrate a better fit with the actual conditions of the pharma and healthcare industry.

The Exciting Trajectory of Digital Health Innovation

The digital health ecosystem is maturing, and both Marc Cikes and Tom Gibbs express excitement about its current state and future trajectory. The commitment of startups to meaningful impact and their adaptability to industry conditions, especially in areas like artificial intelligence, indicate a promising future for digital health innovation.

Conclusion

In a landscape where the convergence of pharmaceuticals and digital innovation is paramount, Debiopharm Innovation Fund stands out as a catalyst for change. By strategically investing in digital solutions and aligning with its core business objectives, the fund contributes significantly to the ongoing transformation of the pharmaceutical industry. As healthcare continues its digital evolution, Debiopharm Innovation Fund’s role becomes increasingly vital, bridging the gap between tradition and innovation to drive positive outcomes for patients worldwide.

Against the backdrop of a rainy day in Rome, they follow his plenary keynote “Dosis sola facit venenum ‘only the dose makes the poison’” delving into how the dosage of medicine not only impacts healing but also influences toxicity.

They discussed the need for a paradigm shift, where technology and data are combined to refine and optimize medications.

At the intersection of technology and healthcare. With limited time for physicians and varying degrees of patient engagement, Yadi envisions a solution for the democratization of care through technology.

The combination of drugs and software holds immense potential. By translating the intricate interplay between patients and physicians into scalable software, accessible through patient-facing apps, the goal is to align technology with drug regimens. This alignment aims to enhance therapeutic efficacy for each individual, fostering a more tailored and effective healthcare experience.

A forward-looking perspective. Yadi envisions a future where collective efforts within the industry could crack the code of the existing business model.

This interview encapsulates an exploration of the current challenges and future possibilities within the realm of digital health.

Hakim Yadi’s insights provide a compelling narrative regarding the need for a personalized approach to medication and the transformative role technology can play in reshaping the future of healthcare.

Frontiers Health has established itself as a pivotal platform for exploring the intersection of healthcare and technology, driving discussions on groundbreaking advancements, trends, and challenges in the digital health landscape.

This year’s conference will provide a dynamic hybrid experience with physical and virtual interactions, building on the success of the 2022 event in terms of attendance and engagement.

The prestigious Auditorium della Tecnica in Rome, Italy will provide the perfect backdrop for the convergence of global thought leaders, innovators, entrepreneurs, and stakeholders that are shaping the diverse digital health landscape.

Frontiers Health has been at the forefront of fostering collaboration and knowledge exchange within the digital health community and our media partnership amplifies the platform’s ability to disseminate cutting-edge insights, trends, and discussions in the rapidly evolving field of digital health.

The collaboration aims to provide comprehensive coverage and deep insights into the conference’s sessions, keynote speeches, panel discussions, and workshops. With our expertise and reach, a broader audience will have the opportunity to engage with the latest advancements, breakthroughs, and critical conversations surrounding digital health technologies, patient care, telemedicine, AI in healthcare, and much more.

Stay tuned for further announcements, speaker reveals, and session updates as Frontiers Health 2023 approaches. For more information and registration details, visit the Frontiers Health website.

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The iconic Start-Up Discovery segment of the conference is designed and structured to give visibility to emerging start-ups with established and scalable solutions, offer an opportunity to connect with companies, investors and stakeholders from the international digital health ecosystem.

Why send your application?

Frontiers Health has demonstrated over the past seven editions that start-ups are a key catalyst for the development of a better healthcare experience. Precisely for this reason, their collaboration with key players in the digital health ecosystem can have an even more significant impact. In addition, there is the opportunity to present a start-up during Start-up Discovery sessions in front of representatives of leading investment funds and digital health experts. Start-ups will also benefit from participating in events and competitions organised by leading pharmaceutical companies during the conference.

The call, open until September 6^th, is open to Seed to Series B start-ups with innovative solutions in the health sector.

As always, participation in Start-up Discovery is free of charge and this year all applicants will receive a free pass to attend the conference and an exclusive discount on additional passes.

How to apply

To streamline the application process, Frontiers Health has partnered with Accelerace, one of the leading investors in the Nordic countries. Through this partnership, Accelerace has made its highly intuitive application platform available for the Frontiers Health team.

Be sure to submit your application for a chance to present your company to over 100 investors and players in the digital health sector!

You have until September 6^th to submit your free application by clicking here.

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Steering Committee

This success was made possible thanks to the significant contribution of the Steering Committee, composed of key players in the digital innovation in healthcare. The Steering Committee will bring its experience and expertise to make Frontiers Health 2023 an even more remarkable event than previous editions.

From 8 to 10 November, Rome will become the stage for innovation, bringing together brilliant minds and revolutionary ideas.

Roberto Ascione, CEO and Founder of Healthware Group, will lead the Steering Committee for the eighth consecutive year as Conference Chair. We will also meet other leading figures in Digital Health such as Eugene Borukhovich, CEO and COO of YourCoach.Health; Megan Coder, Chief Policy Officer of the Digital Therapeutics Alliance; Jessica DaMassa, Executive Producer & Host for WTF Health; Fredrik Debong, Co-Founder and CPO of hi.health; Tony Estrella, Managing Director of Taliossa; Monique Levy, Chief Business Officer of Woebot Health; Min-Sung Sean Kim, Managing Partner of Digital Health Ventures (DHV); Marc Sluijs, Managing Partner of digitalhealth.network; and Paul Tunnah, Chief Content Officer and Managing Director of Healthware International.

Frontiers Health 2023’s Steering Committee defines the general themes of the conference program and brings well-known international experiences. Frontiers Health is not only an event for sharing innovative content, but also a platform for establishing relationships in the vast ecosystem of digital health. Frontiers Health has created over the years a network of experts and professionals who share the passion for innovation in healthcare and the search for sustainable solutions for human health’s future.

FH23 Ambassadors

The FH23 Ambassadors are enthusiastic professionals passionate about Digital Health. They spread the message of innovation and promote the conference program. This group of professionals shares the common goal of improving healthcare through digital innovation.

Frontiers Health 2023 is the perfect opportunity to exchange ideas, create new connections and discover the latest trends and innovations in digital health.

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Frontiers Health 2023 will last three days, one longer than the last edition. Participants will have more time to share information and knowledge. They will also have the opportunity to attend a large number of side events, organised in collaboration with international partners and stakeholders.

This year, on November 9, there will also be the Italian Summit – a forum open to all the main actors in Italian life science – which for the first time will take place in the framework of the Global Conference.

During the Summit all the main actors will be able to discuss how digital innovation has become a determining factor for the progress of the Italian life science industry and how it has outlined useful paths to accelerate innovation in healthcare, thus further promoting the digitalization of the Italian Health Service.

As a Media Partner of the event we offer you a 20% discount to get your pass!

Frontiers Health 2023 will take place a few kilometres from the centre of Rome, in the EUR district, the economic and business heart of the city. Frontiers Health is moving to Italy’s capital after being hosted for two years in Milan, the strategic hub of the Italian economy. Rome is an innovative centre that fosters collaboration between universities, institutes, and health accelerators.

A crucial part of the conference’s mission is to bring together the different players in the innovation ecosystem, and this will also be facilitated by this year’s venue: Confindustria’s Auditorium della Tecnica (the largest association in Italy that represents manufacturing and service companies).

‘Architecture within Architecture’

The Auditorium was designed by architect Pier Luigi Spadolini. Its renovation was conceived to perfectly match the original building by architect Edoardo Monaco. It is for that reason that the Auditorium has earned the title ‘Architecture within Architecture’.

The design of this location combines modern structures, technology, and functional elements. The latest renovation has amplified this remarkable architectural heritage by creating a continuous flow of design elements.  This will create an immersive experience through multifunctional spaces.

This location will foster innovative ideas and be the perfect place to develop cutting-edge strategies aimed at life sciences advancement. The magic of the conference venue can be felt at the foyer entrance, with its sinuous geometries symbolising the ideal combination of versatility and luminosity.

The plenary sessions of Frontiers Health 2023 will be held in a space that combines innovation and elegance in which it will welcome the main international leaders in the field of digital health.

The Congress Centre will dedicate space to numerous initiatives, working sessions and networking activities tailored to the needs and objectives of the more than 1,000 expected guests.

The Auditorium della Tecnica is connected to Rome’s Termini station and Fiumicino airport via metro lines and motorways. It is an ideal and quiet place to enjoy the global conference.

More information on the Frontiers Health conference can be found on the website.

Get your FH23 pass by using our exclusive promo code FH23DHB20!

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COMPASS Pathways is shaking up the traditional mental health care model as it investigates the potential therapeutic value of its proprietary COMP360 psilocybin product (containing a psychoactive ingredient found in some species of mushrooms), with psychological support, in treatment-resistant depression (TRD) and other mental health disorders.

COMPASS is a mental health care company with a mission broader than psychedelics – to achieve broad and equitable access to evidence-based innovation in mental health care, for patients who are not adequately helped by currently available treatments. They are developing investigational COMP360, a proprietary stabilised, high-purity polymorphic crystalline synthesised formulation of psilocybin, which is being tested in large scale, rigorous clinical trials. They are researching a model that combines medicine, psychological support and digital technologies to provide educational support and guidance for patients and therapists, enabling the scalability and continuous optimisation of the care model.

Our team was recently present at Frontiers Health 2022 and had the opportunity to hear from a panel of leading global experts, brought together by COMPASS, covering the past, present and future opportunities and challenges of these emerging psychedelic therapies.

We are in the middle of a mental health care crisis. Now, more than ever, we need new treatments, new paradigms of care… For many people suffering with treatment-resistant depression but also with other mental illnesses, existing and available therapies simply do not work well enough.” – Marco Mohwinckel, Chief Commercial Officer at COMPASS Pathways

The potential therapeutic use of psychedelics

The use of psychedelics spans across millennia. In the 1950s and 1960s, interesting research was conducted on their therapeutic properties, but with the “war on drugs” and global drug scheduling that research came to an abrupt halt. It wasn’t until the turn of the millennium that psychedelic research re-emerged, spearheaded by researchers working at some of the leading academic centers in the world. This new era of research is suggesting that psychedelic therapies not only may be safe and efficacious, but that they might also offer rapid and durable effect. Dr David Erritzoe, Clinical Director of the Psychedelic Research Centre at the Imperial College of London, has been leading exciting basic and translational research on psychedelics. During the panel, he offered insights into the scientific hypotheses and results of ground-breaking studies conducted at the center, including randomised controlled trials focused on comparing the results of a commonly used antidepressant, escitalopram, vs psilocybin.

Highlights from the Expert Panel

The importance of combining medicine with psychological support

All panelists agreed on the importance of combining psilocybin, the medicine, with psychological support in this treatment model. We heard from Metten Somers, psychiatrist and principal investigator at the MC Utrecht Brain center, one of the 22 sites across North America and Europe that participated in the COMPASS-sponsored Phase 2b clinical trial of COMP360 psilocybin in treatment-resistant depression – the largest clinical trial with psilocybin ever conducted. Metten highlighted the importance of psychological support for safety and noted that a therapist must prepare the patient for the experience and be present during the administration as the drug’s effects last for 6-8 hours. During this time, the therapist does not have to be actively engaging with the patient but needs to be available to offer support and reassurance. Furthermore, Metten noted that:

The participants in our trials were not people that had a special interest in psychedelics – 94% of them were psychedelically naïve, meaning they had no idea of what to expect.”- Metten Somers

Where technology comes in

Greg Ryslik, EVP, AI, Engineering, Technology & Digital Health Research Technology, COMPASS Pathways, discussed how technology can be integrated to support patients by explaining the unique nature of the therapy.

COMPASS is in the process of developing natural language processing model that seeks to analyze the anonymised conversations between the therapist and patient and potentially predict patient outcomes weeks in advance.

Like other medicines, we need to be able to objectively measure this [patient’s] response and the more objectively we can measure this at scale, the more we can move towards personalised and predictive medicine.” – Greg Ryslik

Walter Greenleaf, neuroscientist and medical technology developer and Research Scientist at Stanford University, discussed the potential for VR/AR. He describes these technologies as “on-demand”, immersive experiences and notes that they bring an element that is completely different from engaging in something passively, like reading or watching a video. Therefore, there’s extraordinary potential for the use of these technologies in psychedelic therapy, both for educating the patient and the clinician, and to support therapeutic effects.

Do psychedelics fit into the pharmaceutical model?

Big pharma has been watchful of this space and could play a crucial role in pushing for both the regulatory approval and scaling of psychedelics. Sahil Kirpekar, Head of Business Development, Otsuka Pharmaceutical Companies (US), a company that has invested in COMPASS, has witnessed a change in perspective and a growing interest by pharmaceutical companies in this space. Until recently, a large pharmaceutical company like Otsuka did not have the opportunity to get involved with psychedelic therapies due to legal restrictions, but with large scale research now possible, more pharmaceutical companies are moving into the space.

Ultimately this comes down to the significance of the unmet need. This is an area of high unmet need and where there is a commercial solution for addressing an unmet need, there is a market, and that’s where pharmaceutical companies and investors will go.”- Sahil Kirpekar

Fireside Chat

The conversation continued in the iconic Frontiers Health Fireside Chat featuring Kabir Nath, CEO at COMPASS Pathways, and Eugene Borukhovich, COO & Co-Founder of YourCoach Health.

Kabir was first introduced to COMPASS when he was leading Otuska’s global pharmaceutical business. He was impressed by COMPASS’ rigorous and science-focused approach and its ability to execute trials at scale, e.g., the Phase 2b trial in treatment-resistant depression, the largest randomised, controlled, double-blind psilocybin therapy study ever completed. It was the compelling results of these trials and the shared vision that led him to join the team. Kabir believes there is important work to be done to educate different audiences about the potential of these innovations and balance the excitement.

We have clearly seen that there has been a shift in societal attitudes (towards psychedelics) in general”, Kabir notes. At the same time, he called for perspective. “I think there is a lot of hype, a lot of overpromising. We need to have a balance of optimism, honesty, understanding the road ahead, but staying really, really focused on science and on our vision.” – Kabir Nath

While COMPASS plans to adapt strategies based on the unique health systems of each country, their preliminary focus is on the US, where collaborations with providers and building proof points to establish these partnerships are fundamental. As a UK-based company, they have also worked closely with the NHS, gaining experience in a system where incentives of providers and payers are more aligned.

The road forward for COMPASS

For Kabir, it’s always important to start with the patient experience.

There was talk about the preparation setting and support and how critical the preparation and therapy support is, but again, does that have to be delivered face to face? Who is that delivered by? Is it possible to have that at a different center from where the actual administration session is? These are the questions we have to answer, but it also has to come back to how this experience is right for the patient.” – Kabir Nath

Referencing some complexities that exist for COMPASS, Kabir highlights crossing over, subject to regulatory approval, from the clinical trial setting to the commercial setting and providing the therapy at scale as a topic they are working on with payors and regulators. Kabir also highlighted the need to manage excitement and ensure that people don’t view psychedelics as a panacea for all mental illnesses. He recognises that they cannot get swept away by the euphoria surrounding the therapy, and therefore, must be realistic while keeping science and patient safety at the heart of everything.

No company can go about revolutionising mental health alone, therefore, help from startups and entrepreneurs from digital health companies will be important for keeping the momentum of innovating in mental health. Due to the key component of psychological support and the increasing mental health crisis, Kabir sees telemedicine as crucial for solving the global issue of chronic deficiency of clinicians. Also, future research must be focused on the identification and use of digital markers to arrive at a better understanding of what works on an individual patient level both in psychedelics and psychiatry at large.

The work that many companies are doing now to understand, on big data sets, some of these relationships between symptoms, between people’s personal activity and personal lifestyles and how that could potentially relate to symptoms and stress breaking through as depression, I think that is another critical area.” – Kabir Nath

These are exciting times for COMPASS as their rigorous studies could pave the road for FDA approval in the coming years. With extensive clinical evidence, pharmaceutical players moving into the space and a major shift in societal attitudes surrounding psychedelic therapies, it’s clear that this new medical model has the potential to move out of uncharted territories into the clinical setting.
However, the journey from studying the medicine to getting it into the hands of the patient will prove to be the next frontier for the company.

In Session 5, Brent Stackhouse, Vice President at Mount Sinai Ventures, kicked off things off as moderator and was joined by a multifaceted panel composed of: Hamzeh Abdul-Hadi,Debiopharm Innovation Fund; Susana Amorim, Gilde Healthcare; Katrin Geyskens, Capricorn Partners; Taha Jangda, Healthx Ventures; Victor Savevski,Humanitas Healthcare Group; Marta Solé, Accord Healthcare; and Bea Volckaert, Philips Ventures.

The Innovative Startups

Seven companies took the stage to discuss their business concepts, growth plans and go-to-market tactics.

• Dave Kuraguntla, Alio (alio.ai)
• Jim Mapes, Cara Care
• Yves Prevoo, easee
• Hannes Klöpper, HelloBetter
• Fredrik Debong, hi.health
• Luca Emili, InSilicoTrials
• Nicolo Petrone, 1000farmacie

As official Media Partner of the global conference, we caught up with some of them as they exited the plenary stage.

HelloBetter develops and offers psychological digital therapeutics translating scientifically validated cognitive behavioral therapy approaches into an online course experience.

Ticket holders can view the full session on-demand here. Didn’t make it to Frontiers Health 2022? Playback passes are available now. GET YOUR PLAYBACK PASS

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This time in our interview series, we are focusing on Session 4.

Martin Kelly, Founder and Chair at HealthXL, kicked off the session as moderator and was joined by a multifaceted panel composed of: Jacob LaPorte, Novartis; Jim Mangione, Pfizer; Christoph Massner, Earlybird Venture Capital; Jess McCreadie, Octopus Ventures; Karoly Nikolich, Pivotal BioVenture; and Javier Nunez Vicandi, Sofinnova Partners.

The Presenting Companies

Six companies took the stage to discuss their ideas, growth plans and go-to-market tactics.

• José Bastos, knokcare
• Daniel Fallscheer, DasLab
• Max Ostermeier, Implandata Ophthalmic Products
• Swantje Müller, Lindera
• Patty Lee, Orbit Health
• Friderike Bruchmann, XO Life

On-site as the official Media Partner of the global conference, we continued the conversations surrounding some of these novel solutions after the session.

Ticket holders can view the full session on-demand here. Didn’t make it to Frontiers Health 2022? Playback passes are available now. GET YOUR PLAYBACK PASS

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