GT Medical Technologies Inc. revealed that it has raised $16 million in a series B financing round led by MVM Partners, which was joined by existing investors Medtech Venture Partners and Bluestone Venture Partners. Funds will support the expanded commercialization of Gammatile Therapy, a surgically targeted radiation therapy (STaRT) that is intended to help patients with brain tumors.

Rebus Biosystems Inc. has closed a $20 million series B fundraising round. The financing round was led by Illumina Ventures with participation by Lifecore Partners, Ncore Ventures, Xolon Invest, Ctk Investments, Ray Co. Ltd., Seegene Medical Foundation, Labgenomics Co. Ltd. and Timefolio Asset Management. Rebus builds spatial omics tools, assays and platforms. The company plans to use the new funding to support commercialization of its spatial omics solution and expansion of its marketing, sales, research, and product development teams, said Rebus CEO Paul Sargeant. Rebus plans to launch its automated, standalone Rebus Biosystems instrument and optimized assay kits for spatial transcriptomics early in 2021.

DUBLIN – Memo Therapeutics AG raised CHF13.8 million (US$15.3 million) in a first close of a series B round to take forward a patient-derived monoclonal antibody therapy for COVID-19, MTX-Covab, which will move into a phase I/II trial in Germany in the new year.

HONG KONG – Shanghai, China-based Immuneonco Biopharmaceuticals Co. Ltd. bagged $25 million in series B financing in October. The funding will mainly support the companies’ immunotherapies, which include IMM-01 and IMM-0306, both of which target CD47.

HONG KONG – Shanghai, China-based Immuneonco Biopharmaceuticals Co. Ltd. bagged $25 million in series B financing in October. The funding will mainly support the companies’ immunotherapies, which include IMM-01 and IMM-0306, both of which target CD47.

Neuromod Devices Ltd., which is developing an at-home, self-managed treatment for tinnitus, closed a €10.5 million (US$12.4 million) series B financing led by majority investor Fountain Healthcare Partners. The funds are earmarked for expanding European commercialization of the Lenire tinnitus treatment device, to scale up manufacturing, progress U.S. FDA regulatory approval and pursue opportunities with the U.S. Department of Veterans Affairs (VA).

Butterfly Medical Ltd. could be on the verge of metamorphosis into a major player in the benign prostatic hyperplasia treatment field. The Yokneam, Israel-based company just raised $7 million in a series B financing led by New Rhein Healthcare Investors LLC, of Philadelphia.

Genome editing startup Edigene Inc. has raised RMB450 million ($67 million) in a series B financing round to move two of its programs for blood diseases into clinical trials. The financing round was led by 3H Health Investment, and supported by Sequoia Capital China, Alwin Capital and Kunlun Capital. Previous investors such as IDG Capital, Lilly Asia Venture, Huagai Capital and Green Pine Capital Partners also joined the round.

Alucent Biomedical Inc., which is developing a restorative therapy for peripheral artery disease (PAD), completed a $35 million series B financing led by a multinational strategic investor. The funds will be used to complete clinical studies of the Alucent Natural Vascular Scaffolding (AlucentNVS) vessel restoration system with photoactivated linking, the company’s first product.