Cambridge Innovation Capital (CIC) has closed its oversubscribed Fund II at £225 million (US$287 million) and is moving from its previous model of open-ended investing to a traditional fixed-term venture capital fund. The money will be dedicated to spinouts from Cambridge University, with CIC investing in series A rounds, but also following on as companies mature and their capital requirements increase.
Med-tech firms raising money in public or private financings, including: Circle CVI, Endra Life Sciences, Mendel, Nota Labs, Reify Health, Thoma Bravo.
With an oversubscribed $30 million series B in hand, Carlsmed Inc. is in a good posture to take the next steps in its plan to make its personalized spinal implants central to ending frequent revisions in spine surgery. The company’s Aprevo devices, which are 3D printed for each patient, received FDA breakthrough device designation and 510(k) clearance in late 2020.
The amount of money raised by med-tech companies in the early months of 2022 is the lowest amount recorded for a first quarter since 2017. Financings in 2021 were down by 17% over the prior year, which was marked by a flurry of activity and interest in digital technologies and diagnostics with the onset of the COVID-19 pandemic.
Carmat SA just completed a funding exercise, raising nearly $44 million to resume production and implantation of its Aeson total artificial heart, designed for patients suffering from end-stage bi-ventricular heart failure. The capital raise was achieved by issuing 4.05 million new shares on the Paris Euronext exchange, at a fixed price of $10.81 a share.
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