Noteworthy news from medtech start-ups. This month we profile Cardiophotonics, whose HeartLight monitor measures patient fluid volumes in real time and NeoTract, which is developing a minimally invasive device for treating benign prostatic hyperplasia.
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Public Company Edition: Cancer-focused Adlai Nortye launched a concurrent initial public offering and private placement, while four other drug developers announced or completed SPAC mergers. Also, Sobi grossed $540m in a rights issue and Immunovant followed early data with a $450m FOPO.
The company anticipates potential sales in excess of $1bn for the late-onset Pompe disease drug by the end of the decade.
Early-stage data with Structure’s oral GSBR-1290 shows weight loss of 4.9% at four weeks, which appears to top Lilly’s oral GLP-1 data in a Phase Ia trial.