Visby Medical Inc. secured $12.3 million in funding from the U.S. Biomedical Advanced Research and Development Authority (BARDA) to develop a next generation device to detect influenza and COVID-19 in a single point-of-care rapid PCR test and, subsequently, as an over-the-counter test for consumer use. The contract may be extended up to a total of $48.7 million over a period of 38 months based on meeting certain milestones in the base period, according to Visby Founder and CEO Adam de la Zerda.

A definitive diagnosis of Alzheimer’s disease often isn’t arrived at until after a patient dies, when their brain is examined during autopsy. Neurovision Imaging Inc. is hoping to change that with reliable, affordable biomarker tests that can detect Alzheimer’s and other forms of dementia and neurodegenerative disorders before symptoms appear.

TORONTO – Kardium Inc. has secured US$115 million in private money to accelerate commercial growth in Europe of a mapping and ablation system for atrial fibrillation (AF), and conduct a clinical study for FDA approval of the system. Led by Fidelity Management & Research Co. LLC, this funding tranche follows a US$40 million investment in Kardium in 2018 driven by T. Rowe Price Associates Inc., which also invested this time around.

PARIS – Neos Surgery SL has been awarded funding under the leading European program for innovative SMEs, the EIC accelerator. (previously known as SME Instrument). This Spanish med-tech company was one of just 38 projects selected from among 4,200 applicants from 18 countries across Europe. Neos has been awarded a non-repayable grant of $2.3 million towards developing its groundbreaking Disc Care device, used in the treatment of herniated disc.