The amount of money raised by the med-tech industry through public and private financings in 2020 is more than double the amounts seen in 2017 and 2018 and 37% above last year, despite massive global disruptions due to the COVID-19 pandemic.
TORONTO – Ontario and British Columbia med-tech companies have received CA$1.4 million (US$1 million) from Ottawa’s Supercluster fund, making a difference they said for patients suffering the long-range effects of COVID-19, chronic disease and undergoing joint replacement surgery.
Remix Therapeutics Inc., a Cambridge, Mass.-based startup developing small-molecule RNA modulators, said it has raised $65 million in series A financing led by Foresite Capital.
Med-tech firms raising money in public or private financings, including: Nanovibronix, Neovasc, Pear Therapeutics, Progenity, Rayzebio, Rewalk Robotics, Story Health.
Chinese biopharma Impact Therapeutics Inc. of Nanjing raised $50 million in a series C+ round on Nov. 30, two years after its $30 million series C round. Impact’s CEO Jun Bao told BioWorld that the majority of the proceeds would be used to take several programs forward. The financing round also paved the way toward an IPO.
HONG KONG – Olix Pharmaceuticals Inc. has raised ₩41.5 billion (US$37.90 million) to support the company’s U.S. expansion and advance its pipeline globally.
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