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The rise of femtech: How brands can safeguard customer data

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The global femtech industry is in great shape these days, with steady annual growth having it on course to be valued at $1.186 trillion by 2027

Though this upward momentum is great news for industry business leaders, it’s important to remember that the rise of femtech comes with higher volumes of private customer data and a greater responsibility to protect it.

Studies show that some femtech apps have misused sensitive user data, so every femtech brand must adopt and maintain effective best practices for keeping customer data safe, staying legally compliant, and developing trust in their brand.

In this post, we’ll look at six of the most important strategies femtech brands can use to safeguard their customer data.

Understand Your Legal Obligations

As digital privacy has become a bigger and bigger topic in recent years, a regulatory landscape has emerged requiring all tech companies to adhere to strict regulations when it comes to storing and using customer data.

However, when you’re operating in the femtech space, these rules become far more stringent.

Healthcare is a strictly regulated environment due to the fact that businesses are handling highly sensitive data, and you’ll need to build a thorough understanding of your business’s obligations in this area to keep your customer data safe.

If, for example, your brand’s flagship product is an app for tracking menstrual health, the personal health data gathered on your users will fall under GDPR for EU customers, and HIPAA when you’re catering to users in the United States.

Becoming intimately familiar with all the key legislation that applies to your app and the rights of its users will give you a strong starting point for understanding the obligations your tech product needs to fulfil, and the tangible steps you can take to ensure you’re fully compliant.

Create and Implement a Data Governance Strategy

Data governance strategies establish internal rules and operating procedures that help to ensure your business’s data management aligns with legal requirements and industry standards, while also enhancing your brand’s data quality, cyber security, and operational efficiency.

Your brand’s data governance strategy should be clear and accessible to employees at all echelons of your business, especially those who come into contact with sensitive customer data.

This set of rules should include clear best practices on data storage, access, usage, and deletion.

While strong data governance is crucial for all kinds of tech companies, this is especially important for femtech businesses and other firms in the healthcare space, where seemingly minor mistakes can lead to customer harm and severe legal consequences.

By having firm guidelines for who can access sensitive data, best practices for data storage and organisation, and other important variables, you’ll be able to close off potential sources of leaks and streamline the way your business uses data for a higher-quality customer experience.

Practise Robust IT Asset Management

IT asset management is a set of practices that involves tracking all your business’s physical devices, data, and software.

With effective asset management practices in place, you’ll not only make it easier to organise your equipment and data assets but also help to prevent security vulnerabilities that could potentially put your customer data at risk.

Proper IT asset management is not only important when your data and equipment are in active use at your company but also when you retire pieces of hardware that could potentially be the source of customer data leaks.

Many IT asset management services specialise in securely recycling old equipment to guarantee the destruction of sensitive data.

By creating and upholding a system where you can track all devices used to manage sensitive customer data, you’ll be able to ensure that employees leaving the company or devices being retired won’t leave sensitive data vulnerable to leaks or attacks.

Ensure You’re Only Collecting Necessary Customer Data

When many femtech leaders wonder “how can you keep data secure?”, they may be coming from a standpoint where they’ve already collected far more data than their business really needs.

Data minimisation is a crucial concept you’ll need to embrace as a femtech brand, not only to make sure you’re keeping within data protection laws but also for the practical security measures that keep your customers safe.

If, for example, you provide an app to support women’s mental health, you might need to gather data points relating to your users’ general demographics and symptom tracking in order for the technology to function.

However, for the sake of data minimisation, you should make a point to avoid collecting unnecessary data like location tracking or personal information.

Enacting policies that ensure you’re only collecting customer data that’s absolutely necessary, you’ll both respect your customers’ right to privacy and reduce your business’s overall risk of a data breach and similar issues.

Carry Out Periodic Data Audits

Regularly scheduled data audits will give you an opportunity to review the customer data that you have stored, ensuring that this aligns with relevant privacy legislation, as well as your internal security policies and data governance strategies.

With a thorough audit of the data you’re holding, you’ll be able to flag any sensitive data that needs to be deleted, while also making decisions about moving data to more secure storage assets or updating your company’s security policies to reflect changing needs.

When you’re providing femtech tools where countless users can switch from being active to inactive or back every day, scheduling periodic data audits is essential for keeping your systems clean of outdated or expired data, and minimising the potential touchpoints for leaks, breaches, and cyberattacks.

Proactively Train Your Team

Any attempts to secure femtech customer data will only be as effective as the people managing these security measures, and human error can be a major source of security inadequacies for any tech company.

To minimise these kinds of risks to your customer data, it’s crucial to make time for regular employee training, including staff who don’t directly manage data.

Make sure that these training sessions are up-to-date with the latest legislation and general cybersecurity best practices, that they aim to help everyone understand why data privacy is important in the world of femtech, and the best ways to avoid falling victim to phishing, social engineering, and other potential cyber threats.

To reinforce the issues covered in your training sessions, you might want to follow this up with additional measures such as simulated phishing scam emails sent out periodically to your staff.

These kinds of tests and the data you collect from them can help gauge how effective your security training has been, and highlight any departments, teams, or individuals who might need additional education on cybersecurity.

Protecting Customers With Robust Practices

Though the rise of femtech has had innumerable benefits for women’s health, it’s important not to lose sight of the huge volumes of customer data that drive the industry, and the potential risk that this carries. 

By researching your obligations as a company, and fulfilling this with robust policies, maintenance, and training programs, you’ll be able to keep providing a great service to your customers while keeping them and your brand safe.

We hope this guide has given you a great starting point for reviewing your company’s relationship with customer data and planning your next steps towards safer, more efficient IT operations.

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Zero Candida market set to reach over US$2 billion by 2030 – report

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A market analysis made by Moore Financial Consulting estimates the global market for Zero Candida Technologies, Inc. (TSXV: ZCT) (OTCQB: ZCTFF) (FSE: 9L2) (the “Company” or “ZCT”), a FemTech medical device company advancing next-generation solutions for women’s health, will reach over USD 2 billion by 2030, with a compound annual growth rate of 5.25 per cent globally and 3.9 per cent in North America and 4.2 per cent in Europe.

The analysis emphasis that up to 75 per cent of women will have at least one vaginal yeast infection in their life.

Moreover, recurrent VVC (Vulvovaginal Candidiasis) affects nearly 8 per cent of women globally (for women above the ages of 15-60).

According to the data, 100 per cent of women with Recurrent VVC will purchase a combination of over-the-counter and prescription antifungal treatments, usually with the common use of oral agents.

Compared to women with non-recurrent VCC, 55.2 per cent will purchase prescription antifungal treatment, 37 per cent over-the-counter antifungal, 5.6 per cent will purchase a combination of both treatments, and the rest will not purchase any treatment.

Eli Ben Haroosh, founder & CEO, Zero Candida Technologies, said: “Moore’s market analysis matches our estimations, Zero Candida is a groundbreaking and game-changing company in the world of women’s medicine, and we look forward to be one of the leading companies offering AI-driven, tampon-like device, helping women suffering from VVC .

Zero Candida announced recently that its shares are now successfully listed on the Frankfurt Stock Exchange (FSE).

This listing marks a significant milestone for the Company as it expands its global presence, now cross-listed on both the TSX Venture Exchange and the FSE, providing increased visibility and access to a broader pool of international investors.

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Wellness

Breast cancer patients face 59% higher stroke risk during first year, study finds

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Women newly diagnosed with breast cancer have a 59 per cent higher risk of ischaemic stroke in the first year after diagnosis, research suggests.

Researchers also said survivors who develop sudden stroke symptoms, including one-sided weakness, facial drooping, speech difficulties or vision loss, should seek immediate medical attention.

The multicentre study analysed National Health Insurance Service data from 107,606 women who underwent surgery for newly diagnosed breast cancer and compared them with 322,818 age-matched women with no history of cancer.

The research was conducted by professor Shin Dong-wook of Samsung Medical Center, professor Han Kyung-do of Soongsil University, professor Yong-Moon Mark Park of the University of Arkansas for Medical Sciences and professor Wonyoung Jung of the University of Pennsylvania.

Professor Yong-Moon Mark Park said: “The study demonstrates a time-dependent pattern in which the risk of ischaemic stroke rises sharply immediately after breast cancer diagnosis and treatment before gradually declining.

“The key finding is that we evaluated stroke risk according to different stages following diagnosis and treatment. This suggests that clinicians should consider not only how much the risk increases, but also when it is greatest.”

The study included women aged 18 or older who were newly diagnosed with breast cancer between 2010 and 2016, underwent surgery and had no previous stroke.

Each patient was matched with three women of the same birth year who did not have cancer. Participants were followed for an average of 7.2 years.

The main outcome was ischaemic stroke, also known as cerebral infarction. It occurs when a blocked blood vessel cuts off blood flow to the brain and is a leading cause of death and long-term disability.

During follow-up, ischaemic stroke occurred in 1,155 breast cancer patients, or 1.07 per cent, and 3,698 women in the control group, or 1.15 per cent.

Overall, breast cancer surgery was not linked to a significantly higher long-term risk of ischaemic stroke, and researchers recorded a slight fall in risk over time.

However, a different pattern emerged immediately after diagnosis.

Within one year of diagnosis, patients had a 59 per cent higher risk of ischaemic stroke than women without cancer.

The risk was highest during the first three months, at 2.90 times that of the control group.

It remained elevated within six months, at 2.27 times the control group’s risk, before gradually declining.

The risk was still 17 per cent higher three years after diagnosis.

Researchers said the temporary increase may be linked to cancer-related hypercoagulability, inflammatory responses to surgery and treatment, and cardiovascular stress caused by anticancer therapies.

Hypercoagulability means the blood is more likely than usual to form clots. Cardiovascular refers to the heart and blood vessels.

The increased risk was particularly pronounced among patients with hypertension, type 2 diabetes or a history of current smoking.

Hypertension means high blood pressure. Type 2 diabetes is a long-term condition affecting how the body controls blood sugar.

Breast cancer patients who smoked had a 2.26-fold higher risk of ischaemic stroke than comparable women without cancer.

Principal researcher professor Shin Dong-wook stressed the importance of vigilant care for patients with cardiovascular risk factors, especially during the early phase of breast cancer treatment.

Shin said: “Patients with hypertension, diabetes, or other cardiovascular risk factors, as well as those who smoke, require particularly careful management during the early phase of breast cancer treatment.

“If patients who have undergone breast cancer treatment suddenly develop weakness in one arm or leg, facial drooping, slurred or abnormal speech, or vision loss on one side, ischaemic stroke should be suspected, and they should seek immediate medical evaluation.”

Researchers said survivorship care should include strategies to monitor and manage cardiovascular and cerebrovascular disease risk throughout treatment as advances in breast cancer care continue to improve survival.

Cerebrovascular disease refers to conditions affecting blood flow and blood vessels in the brain.

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Insight

Cancer cells secretly hijacking fertility protein to survive chemo, research finds

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Cancer cells may hijack a fertility protein to repair damaged DNA and survive chemotherapy, research suggests.

The findings could point to a way of making existing cancer treatments more effective.

SYCP1 is a protein normally involved in producing sperm and eggs.

Researchers at the University of Liverpool found that the protein, previously thought to work only in reproduction, can be reactivated in cancer cells, where it helps tumours survive and grow.

SYCP1 usually helps chromosomes pair during meiosis, the form of cell division that produces reproductive cells.

In cancer cells, however, the protein appears to take on another role. It enters the nucleus, the cell’s control centre, binds directly to DNA and regulates genes involved in cell division and DNA repair.

DNA repair is how cells fix damage to their genetic code. In cancer, this process can help tumour cells survive treatment.

The researchers found that removing SYCP1 made cancer cells much more sensitive to chemotherapy drugs that damage DNA.

The findings suggest cancers may use SYCP1 to repair damage caused by treatment and continue growing.

Dr Urszula McClurg, lecturer in biochemistry, cell and systems biology at the University of Liverpool, said: “Our findings show that cancer cells can hijack proteins that normally exist only in reproductive tissues and give them completely new jobs.

“Understanding these unexpected functions opens up exciting opportunities to develop new treatments that make existing cancer therapies more effective.”

The work challenges the long-held belief that proteins active only in fertility have no biological relevance outside the reproductive system.

Researchers say these specialised proteins could provide new treatment targets across many types of cancer.

The study also offers a new view of how cancers evolve by repurposing developmental and reproductive processes.

The findings highlight SYCP1 as a candidate for future precision cancer therapies, which are treatments based on the specific biology of a patient’s cancer.

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