Ablacon Inc. has revealed the close of a $30 million series B financing, with Zeus Health joining as new lead investor. The company intends to use the funds to advance its product portfolio and expand patient access to the Ablamap system, which has the CE mark.
New investors think Brainsgate Ltd. has some valuable new ideas, including its novel treatment for ischemic stroke, so they headed up the latest investment round. BNP Joint Capital led the $14 million round as a first-time investor along with Spero and previous investors Elron, Medtronic, Agate, Pitango, and Cipio.
A new $23 million in funds gives Brainbox Solutions Inc. a head start as it begins enrollment in the pivotal clinical trial of its mild traumatic brain injury (TBI) diagnostic and prognostic test. Bioventures Investors took the lead in the series A financing. The Tauber Foundation, the Virginia Tech Carilion Innovation and Seed Funds, Genoa VC, Pharmakon Holdings LLC, and Astia Angels participated in the fundraising round along with qualified investors including the Cleveland Cavaliers' Kevin Love, a mental health advocate.
Emboline Inc., which is developing technology to reduce the chance of stroke during transcatheter heart procedures, completed a $10 million series C financing. The funds are earmarked to gain initial commercial approval of the company’s Emboliner device and to launch a U.S. pivotal study. The round, which included new and existing investors, follows a $5 million bridge round of financing that closed last January.
Med-tech firms raising money in public or private financings, including: Adapthealth, Canary Medical, Color, Pulse Biosciences, Viewray, Volta Medical.
Flowonix Medical Inc. and Swk Holdings Corp. closed a $33 million financing that included $10 million in debt facility from Swk in addition to $23 million in a series B round led by returning investor Farallon Capital Management with support from several new investors. The financing will replace approximately $7.5 million in prior venture debt from Hercules Capital. It will also fund development of new products, entry into new disease markets, production expansion, and partnerships with pharmaceutical companies.
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