Color Health Inc. followed its rainbow to another pot of gold, collecting $100 million in a series E financing round led by Kindred Ventures and funds advised by T. Rowe Price Associates Inc. Returning funding round participants also included General Catalyst, the company’s long-time lead investor, Viking Global Investors and Emerson Collective. With the latest cash infusion, the company’s total funds raised to date reached $378 million and its valuation of $4.6 billion propelled it into the top dozen health care unicorns. Founded in 2017 as Color Genomics, the Burlingame, Calif.-based company has raised more than two-thirds of its total funding this year with today’s series E following the close of a $167 million series D round in January.
Digital musculoskeletal health company Hinge Health Inc. kicked its fundraising into high gear this year, reporting $400 million in a series E round and $200 million in a secondary investment today. It closed a $300 million series D just last January. The San Francisco-based company has now raised more than $1 billion and achieved a valuation in excess of $6.2 billion. Returning investors Tiger Global and Coatue Management led the series E, while new investors Alkeon and Whale Rock took a stake in the company with their $200 million. Investors in the series D and previous rounds included Atomico, Insight Partners, Quadrille, 11.2 Capital, Lead Edge Capital, Bessemer Venture Partners and Heuristic Capital.
Just five days after raising $105 million in a series E financing round, RNA interference therapeutics specialist Sirnaomics Inc. obtained another IND approval from the FDA for its dual-targeting small interfering RNA (siRNA) inhibitor STP-707 to start a basket study in oncology. Sirnaomics’ CEO Patrick Lu told BioWorld in an exclusive interview that an I.V. administration of STP-707 will be tested to tackle solid cancers that may have metastasized into other potential areas or tissue types in the body.
San Diego-based Biotheryx Inc. has raised $92 million in series E financing led by Farallon Capital Management to advance multiple molecular glues, proteolysis-targeting chimeras and monovalent degraders toward the clinic. Its first molecular glue program, BTX-1188, is expected to enter the clinic by the end of this year.
The U.S. FDA cleared Alivecor Inc.'s Kardia AI V2 interpretive electrocardiogram (ECG) algorithm for use in its personal ECG app and devices. Currently, the Kardia line permits consumers to take a 30-second medical grade ECG at home and instantly see whether they are exhibiting symptoms of atrial fibrillation, bradycardia, tachycardia or have normal heart rhythm.
Adagio Medical Inc., a company focused on the treatment of atrial fibrillation (AF) and ventricular tachycardia (VT), has scooped up $42.5 million in a series E equity financing. The funds are earmarked for the ongoing IDE trial of its intelligent Continuous Lesion Ablation System (iCLAS). They will also be used to accelerate the European VT CE mark study, advance the commercialization of iCLAS in CE-mark countries and further development and clinical validation of its pulsed field cryoablation technology.
PARIS – Miracor Medical SA secured a $28 million series E funding round for its Pressure-controlled Intermittent Coronary Sinus Occlusion (PiCSO) impulse system, intended for treating patients presenting with ST-Elevation Myocardial Infarction (STEMI). “This funding will be used to move the PiCSO clinical trial program forward, and to begin distributing our technology in Europe,” Olivier Delporte, CEO of Miracor, told BioWorld.
Improving metabolic disorders without major changes in diet and exercise is typically seen as impossible, unless bariatric surgery is involved. But that’s precisely what Fractyl Laboratories Inc. aims to do. It plans to start a pivotal trial of its duodenal mucosal resurfacing system, Revita DMR, before year end.
Sight Sciences Inc., of Menlo Park, Calif., scooped up $30 million in a series E preferred stock financing round that was led by D1 Capital Partners. The funds are earmarked to further advance clinical and operational development and support commercial expansion of the company’s Omni surgical and Tearcare systems.
BEIJING – CF Pharmtech Inc., of Suzhou, China, closed a ¥630 million (US$90 million) series E financing round to bring its inhaled respiratory drugs to global markets and replace imports with homegrown products faster.