Hello,
Welcome to Insider Healthcare. I'm healthcare editor Leah Rosenbaum, and today in healthcare news:
- A finance whiz thinks he may have solved biotech's clinical trial problem;
- Take a look at the presentation a concierge emergency-care startup used to raise $30 million;
- At least 75 lawmakers bought and sold COVID-related stocks during the pandemic.
If you're new to this newsletter, sign up here. Comments, tips? Email me at [email protected] or tweet @leah_rosenbaum. Let's get to it…
![MIT Sloan School of Management professor Andrew Lo.](https://cdn.businessinsider.nl/wp-content/uploads/2021/12/61a7a33c5d47cc0018e8cc95-scaled.jpg?ver=1639490554)
Andrew Lo studied financial models and behaviors for decades, before turning to the drug industry.Courtesy of MIT Sloan
More than 90% of drug trials fail every year. A finance expert wants to help pharma predict when it will happen.
![MIT Sloan School of Management professor Andrew Lo.](https://cdn.businessinsider.nl/wp-content/uploads/2021/12/61a7a33c5d47cc0018e8cc95-scaled.jpg?ver=1639490554)
- MIT's Andrew Lo is known for studying Wall Street, but he's turned his attention to biotech.
- He wants to predict which drugs will fail clinical trials so money and patients' time can be saved.
- But experts say his tech needs more work and that getting it wrong may cause harm.
![A Sollis member receives care at home from an emergency physician.](https://cdn.businessinsider.nl/wp-content/uploads/2021/12/61b2b8b54d41d30018264255-scaled.jpg?ver=1639490564)
Sollis offers in-home visits to its members for an additional cost.Sollis Health
![A Sollis member receives care at home from an emergency physician.](https://cdn.businessinsider.nl/wp-content/uploads/2021/12/61b2b8b54d41d30018264255-scaled.jpg?ver=1639490564)
See the 14-slide presentation a members-only concierge emergency-care startup used to raise $30 million in Series A funding
- Sollis Health is a membership-based concierge emergency-care startup in New York.
- It announced its Series A round led by Torch Capital and Denali Growth Partners on Tuesday.
- It wants to add more clinics in existing cities and open new offices in San Francisco next year.
![Rep. John Yarmuth, Rep. Carol Miller, Rep. Tom Malinowski and Rep. Marie Newman in front of Pfizer, Johnson&Johnson, and Moderna logos.](https://cdn.businessinsider.nl/wp-content/uploads/2021/12/61b6d5924a055a0019efba43.png?ver=1639490574)
AFP via Getty Images; Michael Brochstein/SOPA Images/LightRocket via Getty; Bill Clark/CQ Roll Call; Marie Bill Clark/CQ Roll Call; Skye Gould/Insider
As the pandemic raged, at least 75 lawmakers bought and sold stock in companies that make COVID-19 vaccines, treatments, and tests
![Rep. John Yarmuth, Rep. Carol Miller, Rep. Tom Malinowski and Rep. Marie Newman in front of Pfizer, Johnson&Johnson, and Moderna logos.](https://cdn.businessinsider.nl/wp-content/uploads/2021/12/61b6d5924a055a0019efba43.png?ver=1639490574)
- At least 75 federal lawmakers held shares of Moderna, Johnson & Johnson, or Pfizer in 2020.
- Lawmakers' holding stock in these companies has prompted ethical concerns.
- Several other lawmakers traded shares of companies with a direct stake in the pandemic.
More stories we're reading:
- Omicron could make you infectious more quickly than Delta — take a rapid test no earlier than a few hours before heading to a party, experts say (Insider)
- Orthopedic surgery as a specialty continues to have a diversity problem (STAT)
- The famed startup accelerator Y Combinator is wading into the $100 billion psychedelics industry. Here's how 3 psychedelics firms got into the program. (Insider)
- Vaccinators in Peru struggle to get access to remote communities with physical and cultural barriers (NPR)
-Leah