Sidekick Health AB stepped into a leading role in the fast-growing digital health space with the closing of a $55 million series B this week and an ever larger number of partners for its gamified app. Designed to help better manage multiple chronic conditions, the digital therapeutic engages users in video game-like activities and rewards positive changes in lifestyle choices while delivering personalized educational components.
IPOs continue to be sluggish but two companies, Pepgen Inc. and Bausch & Lomb Corp., that began trading May 6 managed to sidestep the turbulence despite having to lower their expectations before the market opened. Pepgen stock (NASDAQ:PEPG) closed at $12.89 per share May 6, up 7.4% on the day. Bausch & Lomb also had a solid IPO launch May 6 as shares (NYSE:BLCO) closed 11.1% upward at $20 each.
Orthoson Ltd. closed a £8.9 million (US$11.1 million) oversubscribed series A, which will be devoted to completing preparations for its ultrasound/hydrogel combination treatment for repairing degenerated spinal discs to start phase I clinical trials.
Ashvattha Therapeutics Inc. secured $69 million in a series B financing that it said will strengthen its ability to develop hydroxyl dendrimer-based medicines and accelerate efforts to advance its candidates to the clinic.
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