Wellcome Leap has launched its first program, dedicating $50 million to help develop human tissues, organoids and full organs. The Human Organs, Physiology and Engineering (HOPE) program is looking to bring biologists and engineers together to develop both therapeutic organs as well as organs that can be used in vitro to help discover and develop new medications.

Although the volume of med-tech deals and mergers and acquisitions in 2020 rival each of the last two years, the level of disclosed values has fallen far short of 2019 in both instances.

Although funds raised for med-tech companies in the third quarter were less than half of the amount raised in the second quarter and 14% less than the first quarter, it was still the best quarter of 2020 for IPOs and venture capital (VC) financings. It also pushed the money raised through all financing types to its highest level in four years.

More than 62% of the volume and 63% of the projected values of med-tech deals completed in 2020 are for one of two things: COVID-19 diagnostics and devices or digital health technologies that fall outside of the pandemic efforts. As of late September, BioWorld has tracked 1,012 deals this year – including licensings, collaborations and joint ventures – valued at $3.67 billion, as well as 272 completed mergers and acquisitions valued at $8.53 billion.