Transcend Therapeutics Inc. has closed on a series A funding of $40 million for its next-generation compound, methylone, an MDMA analogue, to be developed as a rapid-acting, disease-modifying, non-hallucinogenic treatment for neuropsychiatric conditions, including post-traumatic stress disorder.
Avicenna.AI SAS secured a further $7.5 million in series A funding, bringing the total aggregated investment in the company so far to $10.4 million. The round was backed by the two existing Paris-based investors: Cemag Invest SAS and Innovacom Gestion SAS. “Thanks to this funding, we are now able to ramp deployment of our software platform around the world, as well as diversify our offering into new areas of medicine,” Cyril Di Grandi, CEO and co-founder of Avicenna.AI SAS, told BioWorld.
Maxion Therapeutics Ltd. has raised $16 million in a series A to take forward a new method for drugging G-protein coupled receptors (GPCRs) and ion channels with antibodies. The technology brings together naturally occurring knottin peptides that are derived from sources such as snake venom and which can engage GPCRs and ion channels, with antibodies that deliver them to these notoriously difficult, shape-shifting targets.
Cydar Medical Ltd. raised $11.5 million (£9.3 million) in a series A funding round which will allow it to advance its artificial intelligence (AI) surgical maps platform and bolster its ongoing commercial expansion.
A preclinical data presentation at the American Society of Clinical Oncology Genitourinary Cancers Symposium later this week has prompted Halda Therapeutics Inc. to emerge from stealth and unveil its novel Riptac (Regulated Induced Proximity Targeting Chimera) platform for creating heterobifunctional small molecules designed to kill cancer cells selectively. The New Haven, Conn.-based company has been quietly refining the technology since its formation in 2019 and has already secured $76 million in series A and B rounds.
Dxcover Ltd. raised $9.25 million (£7.5 million) in a series A fundraising round and received a grant of $2.7 million (£2.2 million) from the European Innovation Council to support development of the company’s liquid biopsy platform for the detection of multiple early-stage cancers. Existing investors Eos Advisory LLP, Mercia Asset Management plc, Scottish Enterprise, University of Strathclyde, SIS Ventures and Norcliffe Capital led the round, which was also joined by Mark Banforth of Thairm Bio.
Aethon Therapeutics Inc. closed a $30 million series A round to develop a novel antibody-based therapeutic strategy for cancer, which relies on the concomitant use of small-molecule covalent inhibitors that form peptide-drug conjugates or beacons.
Perception Vision Medical Technologies Co. Ltd. (Pvmed) raised around $14 million in a series A financing round, to further develop artificial intelligence (AI) cancer treatment solutions for the two major tumor treatment methods, radiotherapy, and surgery.
Remedee Labs SA raised $13.25 million to accelerate the commercial deployment of its mini endorphin stimulator for chronic pain. This is the company’s third funding round after initial fundraising of $11.66 million.
Chaomu Technology (Beijing) Co. Ltd. has raised nearly ¥100 million (US$14 million) in a series A+ round to develop its ophthalmic medical devices. The proceeds from the financing will be used for the clinical trials of its electromodulation product for nystagmus and the development of implantable medical chips, as well as to speed up the development of products for myopia correction. Following the financing, Beijing-based Chaomu will expand to the global market by looking for collaborations with international institutions. It plans to obtain marketing approvals for its ophthalmic medical devices in the U.S. and Europe.
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