Cardiorenal is advancing a digital solution for chronic kidney disease (CKD) patients with a new seed investment. The Grenoble, France-based startup’s product Tenor attracted $3.7 million from investors to secure regulatory clearance in the U.S. and Europe.

European biotechnology firms engaged in drug discovery and development raised $1.96 billion in equity investment during the first quarter. That tally represents a drop of 67% on the $5.888 billion invested during the same quarter of 2021, when the COVID-19 crisis drove global and European biotechnology investing to unprecedented levels.

3Spine Inc. has raised $33 million in an oversubscribed series C private offering for a phase II clinical study to assess what it calls “the first total joint replacement” for the lower back. This brings total private investment in the Balancedback total joint replacement to $50.3 million, largely due, said 3Spine CEO Marc Peterman, to “tremendous clinical outcomes and a mountain of benchtop research.”

T2 Biosystems Inc. is accelerating development of its T2biothreat and T2resistance panels, direct-from-blood panels that detect the six pathogens most likely to be weaponized and 13 common antibiotic resistance genes, respectively. A $4.4 million Biomedical Advanced Research and Development Authority (BARDA) cost-sharing contract will be used to advance clinical trials for the tests. The total potential funding from BARDA under the contract is $69 million.

Following a traumatic birth experience with her second child, Baymatob Ltd. Founder and engineer Sarah McDonald felt she had a moral obligation to do something to help women, and she developed a wearable device that uses artificial intelligence (AI) to identify mothers during labor who are at high risk of developing abnormal postpartum hemorrhage (PPH) well before giving birth.