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Welcome to the 4 new subscribers who have joined Future Human since our last edition! Join 370 other leaders learning about the future of human health by subscribing here:

Hi friend,

Welcome back to Future Human! I wanted to dedicate this week’s intro to a quick apology to all of you currently awaiting a reply from me on LinkedIn. It may sound silly, but I feel bad when someone takes the time to send a thoughtful message and doesn’t receive a timely, personalized response.

Right now, I’m nine days out from my first clerkship shelf exam, and I’m fully heads down preparing. As much as I love the conversations happening in my DMs — whether it’s students looking to break into healthtech, operators exploring opportunities at the companies we feature, or founders hoping to connect with Artis — I have to get this short sprint over with.

Please know that your message matters. I read them, I appreciate them, and I’m excited about it all. I’ll be back up for air beginning February 28th and will start responding to everyone then. I’m truly looking forward to reconnecting and meeting many of you properly.

To more lives saved,

Andrew, Isabelle, and Nicholas

Big telehealth news to start us off here. Talkiatry just closed a $210 million Series D — bringing its total funding north of $400M. The round was oversubscribed and led by Perceptive Advisors, with participation from Andreessen Horowitz and Sofina. Telepsychiatry is seeing some serious conviction.

What surprised us most — Talkiatry isn’t a marketplace or referral app — it employs its clinicians directly (now more than 800 full-time psychiatrists). That full-stack provider model means they own the technology, the employment relationship, and the payer contracts. Perhaps more asset heavy, but also better quality control, tighter care coordination, and more predictable outcomes than contractor-heavy telehealth models.

They’re in-network with 100+ insurers covering roughly 170 million lives and have delivered more than 3 million patient visits to date. Our belief is that they’re positioning themselves as a plug-and-play psychiatry department for health systems and payers struggling with workforce shortages. One stop shopping for all.

With all of that said, capital doesn’t automatically equal continuity, outcomes, or patient satisfaction. The operational complexity of behavioral health is real. This team is applying a different model, aimed at unity under one roof, so let’s see if that does the trick and unlocks rapid adoption. There is no doubt that as general telemedicine cools since the pandemic, behavioral health remains the final category still garnering real investor momentum. They will naturally need it, as the employed-physician model is expensive. If reimbursement holds and outcomes data shows itself to be better, this could create a real moat.

The FDA is suddenly back in the political spotlight — and not just for approving another GLP-1 drug. Senate HELP Committee Chair Bill Cassidy rolled out an 18-page report laying out a vision for sweeping changes to how the agency works. The core pitch: speed up approvals, cut “red tape,” bring in AI, streamline clinical trials, and make the U.S. more competitive globally. The report comes after biotech leaders raised alarm over the agency’s pace and unpredictability — and it’s one of the more substantial federal proposals aimed at modernizing FDA in recent years.

Cassidy definitely heard out the biotech leaders and startup founders. His piece reads like a pitch deck: embrace novel trial designs, make accelerated approval pathways more broadly useful (not just in oncology), and reduce burdens that allegedly push companies to run early-phase trials overseas. On rare disease drugs, he argues FDA should be less quick to issue clinical holds and create clearer paths for personalized therapies — a major friction point for smaller biotechs burning cash deep into development.

“Faster, cheaper, smarter” sounds great. The question we have is who bears the risk when oversight loosens. Patient safety isn’t a negotiable line item. Also this is as much political positioning as policy. Real reform will require bipartisan buy-in and serious funding for the agency. Regardless, I am thrilled to see our politicians supporting a modernization of our regulatory agencies in a new normal with more complex patients and newer technology available.

As for our biotech deal of the week, Rasayana Therapeutics just made a notable move in the microbiome space. The gut-focused biotech signed a $36 million licensing deal with Theriva Biologics, acquiring exclusive worldwide rights to develop and commercialize Theriva’s gastrointestinal candidate, SYN-020. This is an oral enzyme therapy that helps break down sucrose (table sugar) in the small intestine for people who don’t produce enough of the natural sucrase enzyme. By digesting the sugar before it reaches the colon, it reduces fermentation by gut bacteria — which can decrease bloating, gas, and diarrhea. The deal includes upfront cash plus up to roughly $36–$38 million in milestone payments tied to development and commercial progress, along with royalties.

SYN-020 is designed to target gut biology in a more mechanistic way, aiming to modulate the gastrointestinal environment rather than simply suppress symptoms. That distinction matters. Earlier waves of microbiome companies leaned heavily on broad microbiota manipulation, but more recent strategies — like this one — are focused on specific enzymatic or biologic pathways. As we realize how critical the gut microbiome is, our clinical assets are getting more precise.

For Rasayana, this is a classic capital-efficient pharma play we have spoken about. Instead of building a candidate from scratch, they’re in-licensing an asset with existing development groundwork. For Theriva, it’s a way to monetize and advance a program without carrying the full development burden. In today’s tighter biotech funding climate, these kinds of structured licensing deals are becoming more common. Everyone is spreading risk while preserving upside. Let’s watch and see how this one goes!

Did you think this newsletter would touch on gambling addiction therapies one day? Well here we go. Birches Health, a virtual treatment provider for gambling and other behavioral addictions, just appointed Cynthia Grant, Ph.D., as its vice president of clinical. She’s now tasked with building out Birches’ treatment pathways and strengthening its evidence-based clinical strategy as demand for specialty behavioral addiction care grows.

Birches is addressing a real gap. As sports betting and online gambling expand across the U.S., so do problem behaviors associated with them. Millions of Americans are estimated to struggle with gambling-related issues, yet only a small fraction receive specialized treatment. Many clinicians simply aren’t trained to screen for or manage these conditions, leaving a growing care vacuum. This hire suggests to us that Birches is maturing from a startup into a more serious clinical organization. Seasoned leadership could bring in standardized protocols and long-term credibility.

Their focus now on insurance coverage and nationwide virtual access is strategically smart. Specialty behavioral health only scales if payers are involved. Operating across all 50 states and partnering with insurers gives Birches a meaningful advantage if outcomes hold up. That said, behavioral addictions remain diagnostically and clinically complex. Long-term data are limited, and many interventions still rely heavily on self-reported improvements. Scaling responsibly will require rigorous validation, not just expanded access. As the data reveals itself, behavioral addiction treatment should become a durable, reimbursable digital health category.

Hinge Health just hinted (albeit obviously) at their confidence moving forward. The digital musculoskeletal care provider is projecting $732 million in revenue for 2026, a massive jump aided by strong growth in users, employer contracts, and new product offerings. This projection comes after years of steady expansion amid rising demand for virtual MSK solutions and growing employer willingness to pay for preventative health tech.

At its core, Hinge Health’s business is straightforward: offer digital programs for back, knee, and joint pain that combine guided exercise therapy, coaching, and data tracking to reduce pain and avoid costly procedures. Employers and health plans have increasingly embraced this model as a way to trim disability claims and lower MSK-related healthcare costs — which, historically, are some of the biggest drivers of spend.

Looking ahead, almost three-quarters of a billion in projected revenue is impressive, but it also sets a high bar. Digital MSK care is amongst the few telehealth categories with solid unit economics. We have no doubt investors are now expecting consistent profitability, not just growth. Leaning into AI makes strategic sense, but there’s a difference between AI-assisted coaching and AI-replacing clinicians. If the tech actually helps tailor rehab plans and improve adherence, that’s value — but serious gaps in clinical improvement could backfire in a crowded market.

Hinge’s amazing trajectory highlights the fact that employers are demanding measurable outcomes, not just more apps. The companies that survive will be those backed by hard data showing lower costs and better long-term health — not just flashy dashboards. Congratulations to Hinge!

We hope you enjoyed this edition of Vitals!

We always appreciate feedback, questions, and conversation, so feel free to reach out on LinkedIn or by replying to this email.

To more lives saved,,

Andrew, Nicholas, and Isabelle