Microbiotica Ltd. of Cambridge, U.K., has raised £50 million ($67 million) in series B funding as the company aims to test its microbiome-based technology in early cancer and ulcerative colitis trials. The funding was co-led by new investors Tencent and Flerie Invest, with British Patient Capital on board along with existing investors Cambridge Innovation Capital, IP Group and Seventure. With response rates to checkpoint inhibitors still very low, Microbiotica’s scientists think that the way to improve the immune system’s response to these drugs is by modifying the bacteria present in the gut.
Investors are backing precision medicine company Cancer IQ Inc. with $14 million to expand use of its cancer prevention platform. The series B funds will be used to scale the company’s cancer screening service among diverse, uninsured, and rural populations in the U.S.
Egg Medical Inc. secured a $13 million investment from TVM Capital Life Science to solve the Humpty-Dumpty problem that plagues interventional cardiology – the scattering of radiation during X-ray guided procedures. The company’s Eggnest XR product contains the radiation using a carbon fiber platform with integrated radiation shielding that replaces the patient mattress on the X-ray table.
The French government has unveiled future investment plans. It reported the “Innovative Medical Devices” plan as part of the France 2030 initiative, in support of the medical devices industry. At the start of 2022, an innovative “Healthcare 2030” initiative came into effect, which sees the mobilization of $8.35 billion in credit for the life sciences sector.
Saluda Medical Pty Ltd. raised $125 million in equity financing to commercialize and scale up its Evoke spinal cord simulation system for chronic pain and to advance its technology platform across an emerging portfolio of neuromodulation therapies.
Med-tech firms raising money in public or private financings, including: Bluegrass Vascular, Boston Scientific, Cancer IQ, Eyenovia, Foresite Capital, Stage Zero.
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