Wangli Technology, a subsidiary of Adai Technology (Beijing) Co. Ltd., has raised ¥100 million (US$14 million) to continue developing digital therapeutics aimed at mental health indications.
Sonothera Inc. reeled in $60.75 million in a series A financing led by Arch Venture Partners. The funds are earmarked for the continued development of Sonothera’s ultrasound-guided, nonviral, gene therapy platform and treatments.
Both the Hong Kong Stock Market and the Shanghai STAR Market have seen med-tech companies, namely Orbusneich Medical Group Holdings Ltd. and Shanghai Genext Medical Technology Co. Ltd., making a rush to be listed by the end of 2022.
Meccellis Biotech Group SAS reported closing an $8.25 million series B funding round to launch its biological implant technology on the US market. The exercise was supported by investment worth $5 million from Ocean Participations SAS alongside new funds from Volney Development SAS, Nouvelle-Aquitaine Co-Investissement SAS and the Poitou-Charentes business angel network Synergence Invest SAS.
In an interview with BioWorld, Ceros Financial Services CEO Mark Goldwasser predicted significant changes in the financing market for med-tech companies in the coming year. While special purpose acquisition company (SPAC) deals are not anticipated to return to 2022 levels, Goldwasser expects “we’re going to see a lot of transactions out of big strategics” and a rally in the equity market in the first half of 2023.
Subtle Medical Inc. closed a series B financing to develop its artificial intelligence (AI) imaging enhancement solutions. Eastern Bell Venture Capital Management Co. Ltd. and Primavera Venture Partners lead this round of financing.
Haystack Oncology Inc. has launched with a $56 million series A round to commercialize technology using circulating tumor DNA (ctDNA) to detect minimal residual disease (MRD) following surgery for early-stage cancers.
A large notes offering this month and a pick-up in public raises have boosted med-tech financings, which are now tracking similarly with 2019. So far this year, the med-tech industry has raised $35.7 billion through 457 transactions. The amount raised is down by 23% in comparison with the same time frame in 2021, although a few months ago that gap was 48%. The current volume is down by 25.4%.
Osler Diagnostics Ltd. has raised $85 million in a series C round, as it embarks on clinical testing to secure regulatory approvals for its portable central lab quality diagnostics system.
Shanghai Easy-Flow Medical Technology Co. Ltd. has completed an angel round to develop its peripheral intervention products. The round, which the company claims to be in the “tens of millions of yuan,” was led by Legend Capital.
