Albuquerque, N.M.-based Sandia Labs received a $6 million grant from the NIH to build a prototype for a wearable brain scanner. The noninvasive functional brain imaging system will use optically pumped magnetometers (OPMs) to conduct more accurate magnetoencephalography (MEG), while improving accuracy, increasing comfort, reducing imaging costs, and enabling use in more patients.

During the first quarter of 2020, a total of 153 financings brought $13.2 billion into the med-tech industry, representing a 20% drop from the first quarter of 2019, but still significantly above all of the other quarters since 2017. The number of private financings appears to be climbing in comparison with recent years, and some large notes offerings have placed private raises of public companies on top. In contrast, IPOs and follow-on offerings are way down from previous quarters.

The Korea Export Import Bank (KEXIM) took a step toward fulfilling its mandate to finance Korean companies’ overseas expansion by seeking managers for a new ₩400 billion (US$328 million) fund.

Backers in Tango Therapeutics Inc.’s $60 million series B round represent “a group of really smart crossovers who normally don’t come in quite this early” and “hung in there” during some especially hard times on Wall Street recently, CEO Barbara Weber told BioWorld. “We were about to sign the term sheet the first time the market crashed, which was a little nerve-wracking.”

Tyto Care Ltd. nabbed $50 million in an oversubscribed round of funding the company will use to expand commercialization of its integrated telehealth platform and remote device with examination tools, which has seen a surge in demand with COVID-19. The new cash nearly doubles the New York-based company's total funding, bringing it to $105 million. Insight Partners, Olive Tree Ventures, and Qualcomm Ventures LLC led the latest round.

Digital mental health startup Silvercloud Health Inc. has scooped up $16 million in a series B round led by Memorialcare Innovation Fund. The Boston-based company plans to use the funds to grow program offerings in North America, enhance its global portfolio and conduct new research and clinical trials. LRV Ventures, OSF Ventures and Unitypoint Health Ventures also participated in the round, along with existing investors Act Venture Capital and B Capital Group. With this latest round, Silvercloud has raised a total of $30 million.