Germitec SA has raised €11 million (US$11.6 million) to finance commercial scale-up, as it prepares to submit for FDA 510k approval of its ultrasound probe disinfection system.

The music still goes on for biotech investment – it’s just not as loud and vibrant as it was during the heady days of 2020 and 2021, according to experts at this year’s LSX World Congress in London. After the rush to invest in biotech during the last two years, it has become an uphill battle to raise money – but the message from several panel experts at the event is that there is still hope.