Trogenix Ltd. has completed its series A financing, raising £70 million ($95 million) to support progression into the clinic of its pipeline of potentially curative cancer therapies across multiple aggressive solid tumors.

Researchers at Heriot-Watt University received more than £475,000 ($637,000) in funding to advance clinical work on a vibroacoustic sensor which could change how eczema is diagnosed and treated.

Med-tech financings with publicly reported values totaled $23.2 billion in the first three quarters of 2025, marking an improvement over 2023 and 2024. The rebound was driven by a resurgence in IPOs and solid private financings, while follow-on offerings lagged compared to historical averages.

Biopharma financings from January through September 2025 totaled $47.1 billion, a sharp decline from 2024’s $86.7 billion during the same period and well below the highs of 2020 and 2021. The slowdown was driven largely by weaker follow-on activity, which brought in $12.9 billion compared to more than $40 billion last year.

Cartography Biosciences Inc. has closed a $67 million series B financing to support its pipeline of T-cell engaging bispecific and multispecific antibody therapeutics that target novel and highly specific tumor antigens.

Cirrus Therapeutics Inc. has closed an $11 million seed financing to advance its pipeline of gene and cell therapies designed to preserve sight and extend ocular healthspan in patients with chronic blinding diseases.