Thermology Health is looking to raise £3 million ($US3.8 million) to £4 million to help bring its thermal imaging technology to patients to better diagnose and prevent diabetic foot ulcers, Yuval Yashiv, CEO told BioWorld. The company’s artificial intelligence-driven remote patient monitoring platform measures the temperature of the foot and detects whether an ulcer is forming, thereby preventing thousands of foot amputations and reducing health care costs, said Yashiv.
Relation raises additional $35M for ‘lab in the loop’ system
Techbio specialist Relation Therapeutics Ltd. raised $35 million in new seed funding, bringing total seed money to $60 million, as it advances development of its in silico/wet lab platform for identifying drug targets in the non-coding parts of the genome. The company is building a “lab in the loop” system where in depth ‘omics profiles of single cells from fresh patient tissues are analyzed by its machine learning engine to uncover the genetic basis of clinical phenotypes and identify novel targets. In the year since it raised the initial seed funding, Relation has validated the technology in its lead indication of osteoporosis, identifying a number of targets it is now preparing to drug.
Device makers back on US FDA’s warning letter radar
The U.S. FDA posted two warning letters to device makers in the second week of March 2024, one each to Exactech Inc., of Gainesville, Fla., and the other to Nobles Medical Technology II Inc., of Fountain Valley, Calif. The themes of these warnings are entirely different, with Noble receiving a warning regarding clinical trial oversight and Exactech taking a hit for routine good manufacturing compliance issues, showing that the FDA is back up to speed in the post-COVID compliance realm.
UK’s NICE taking a close look at Elekta’s Proknow systems
The U.K. National Institute for Health and Care Excellence (NICE) has released a preliminary health technology assessment for three modules of the Proknow series of software systems by Stockholm-based Elekta AB, which may improve the delivery of radiotherapy services across the U.K. However, NICE indicated it wants to see more evidence regarding the impact of these software modules on radiotherapy treatment plans, just one of several evidentiary questions Elekta will have to answer before the agency can give these programs an unqualified nod.
Med-tech funding skyrockets more than 175% year over year
The med-tech financing landscape in 2024 has shown remarkable improvement over last year, with $4.62 billion raised in the initial two months, an increase of 176.62% from the $1.67 billion raised during the same period in 2023. Transaction volume has also risen, up 9.88% from 81 transactions through February last year to 89 this year. Moreover, all categories of financings have seen an increase over the same period in 2023, while IPOs, follow-ons and private financings are all up from January.
Also in the news
Aquedeon Medical, Biotronik, Carlsmed, Conavi, Delcath Systems, Dignify Therapeutics, Edan Instruments, GH Labs, Grail, Labcorp, Natera, Neupulse, Onward Medical, Polaris, Spineart, Titan