Deals and Financings
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Liquid Biopsy Company Karius Raised $100M To Expand Its Test For Detecting Over 1,000 Pathogens
Karius announced on 2 May that it has raised $100m in a series C round of financing co-led by Khosla Ventures and new investors 5AM Ventures and Glide Ventures. The proceeds will be used to expand the firm’s reach beyond the 400 US hospitals where its Karius Test for detecting over 1,000 pathogens is already being used.
News We're Watching: LDT Final Rule Near Publication, Zimmer ROSA Used In Shoulder Surgery, $60M For Menopause Clinic
This week, the US FDA's proposed final rule on lab-developed tests cleared another hurdle on the path to release; Zimmer Biomet announced that its ROSA surgical robot had been used in shoulder replacement surgery for the first time; and a virtual menopause clinic closed out a $60M fundraising round.
Ultrahuman Expands Wearable Medtech Production Into US After $35M Funding Round
Firm operating in London, India and United Arab Emirates says its “Ultra Factory” will open in Indiana within the next six months with end-to-end production based on its operational facility in India.
Behavioral Health Company Two Chairs Secures $72M In Equity And Debt Infusion
Two Chairs, which uses algorithms to match the right therapists with patients, secured $72m in investment to expand its business.
Johnson & Johnson Poised To Lead Multiple Cardiovascular Markets With Shockwave Medical Acquisition
J&J’s acquisition of IVL device maker Shockwave Medical for $13.1bn sets J&J’s medtech arm solidly in a leadership position in multiple cardiovascular markets.
News We're Watching: Abbott, Click, Otsuka, Prenosis Win FDA Approval; EU Health Data Space Proposal, And More
This week, Abbott, Click and Otsuka, Prenosis won the FDA nod respectively for an in vitro diagnostic to evaluate patients for concussion, the first prescription digital therapeutic to treat major depressive disorder and a software to predict sepsis. Also on the regulatory front, the FDA will now take 513(g)s forms via its eSTAR framework. In Europe, the debate of what personal information can be shared continues.
Reed Jobs’ Venture Firm And American Cancer Society Launch $13.2M Grant For Cancer Research
Yosemite, an oncology-focused VC company, founded by Reed Jobs, partnered with the American Cancer Society to launch a $13.2m grant program to fund cancer projects, including using AI for drug discovery and research in immuno-oncology and cell therapy approaches.
News We're Watching: Tricuspid Procedure Boom, Boston Scientific Borrows $2Bn, And More
Medtech Insight's News We're Watching highlights some recent business and R&D developments you may have missed. This week, GE Healthcare and Biofourmis announced a deal to collaborate on virtual care; Cleerly touts a new CPT code for its Ischemia cardiac diagnostic software; Boston Scientific announced how it plans to pay for Axonics; a Wells Fargo survey suggests the market for transcatheter tricuspid valve repair and replacement will grow faster than previously imagined; Virtual Incision earns FDA de novo authorization for its MIRA miniaturized surgical system for colectomy procedures; and MMI and Fabric announce major financing rounds.
SVB’s Milo Bissin Predicts ‘Reckoning In 2024’ For Health Care Companies With Sky-High Valuations
VC funding will remain challenging for many in the health care industry, Silicon Valley Bank’s market manager Milo Bissin told attendees at the recent DHIS West conference. Companies focusing on promising areas such as AI-powered technologies, women’s health and value-based care likely have the best chances to draw investors’ attention.
Change Of Plan: Medtronic Drops Ventilators, Keeps Monitoring, Forms New Unit
Medtronic will stop producing ventilators and combine the rest of its patient monitoring and respiratory interventions business into a new business called acute care and monitoring. The company had previously announced plans to divest all of the patient monitoring and respiratory intervention business.
UK Offers £10M Funding To Eight Medtech Innovators
The Innovative Device Access Pathway pilot has launched in the UK with eight new promising medical technologies. The cohort is overwhelmingly diagnostic-focused, with innovative testing for Alzheimer’s, stroke, and liver cancer, amongst others.
Freenome Bags Another $254m As Study Results Draw Closer
Freenome, the Roche-backed early cancer detection liquid biopsy developer has raised yet more money, making it one of the best-funded companies in its sub-sector. With trial results due relatively soon, investors are likely hoping this will be the last funding round required before full commercialization.
Cardio Catch-Up: Procyrion Raises Nearly $60M As Aortix Creeps Closer To Clinic
The Houston-based cardiovascular device developer has secured renewed support from its investors to fund its pivotal trial of Aortix, a device designed to treat patients suffering from often-fatal, difficult to treat cardiorenal syndrome.
Invitae Claws At $50m, Selling Reproductive Health Assets
Natera has pounced on the opportunity to purchase Invitae’s reproductive health assets at a bargain price, simultaneously quashing any potential ongoing royalty payments between the two.
Onera Bags €30m To Fund Sleep Tech
The start-up has raised more cash to further commercialize its lighter-weight polysomnography platform.
Deals Shaping The Medtech And Diagnostics Industries, December 2023
An interactive look at medtech and diagnostics deals made during December 2023. Data courtesy of Biomedtracker.
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