Med-tech companies are facing a new reality of high interest rates, inflation, bank failures, and geopolitical turmoil that are impacting financing and M&A opportunities. To secure finance and attract partnership deals they must keep their product simple, focus on proof of concept and ensure that it has quality, delegates at the LSX World Congress in London heard during a panel presentation.
The IPO market in Europe is firmly shut and not a single company went public in the first quarter of 2023. The impact of this is trickling down to limit access to venture capital for biotechs.
The European Innovation Council (EIC) equity fund will no longer be managed internally by the European Commission (EC) after September. Alterdomus Management Co. SA, a Luxembourg-based fund manager, will make the final decisions on which life science companies to invest in. The aim is to optimize how the EU’s main tool for driving innovation and economic growth in Europe operates.
Ciliatech SAS secured $3.87 million in series A funding to continue developing its second-generation implant to treat open-angle glaucoma. This round was led by its historical shareholders, including BNP Development SAS, Kreaxi SAS and individual investor Bernard Chauvin. “With this additional money, we can continue clinical trials to obtain the CE mark,” Olivier Benoit, co-founder and CEO of Ciliatech SAS told BioWorld.
Oso-AI SAS raised $10.7 million to develop its artificial intelligence (AI)-driven augmented ear for frail people and their caregivers. This series A financing round was led by its historical shareholders Innovacom SAS, Novinvest Partners SAS and Breizh-up, which is the co-investment fund of Brittany region financed by the European Regional Development Fund and managed by UI Investment SAS. Cemag Invest Partners SAS has joined these three historical investors. This operation follows a first round of financing of $4.4 million which closed in September 2020.
Xeltis AG reported the first-in-human results for its fully synthetic electrospun vascular access graft, showing 100% patency at six months in 20 patients with end stage renal disease who were not suitable for arteriovenous (AV) fistula creation.
A heart-protective cardiac myosin inhibitor and two biologics – one for a type of non-Hodgkin lymphoma and another for an inflammatory skin condition – were among the therapies recommended for approval by the EMA’s Committee for Medicinal Products for Human Use this week.
An electronic pen that tracks upper limb and hand motions to diagnose Parkinson’s disease is to be repurposed to detect neurotoxic side effects of immunotherapy for cancer, following the award of a grant from Johnson & Johnson Innovation.
The neonatology unit at Bonn University Hospital (UKB) in Germany conducted the world’s first study of portable magnetic resonance imaging at the bedside on children undergoing extracorporeal membrane oxygenation (ECMO) therapy. This procedure involves oxygenating the blood outside the body. The 10-strong neonatology team demonstrated that it is safe and feasible to perform portable MRI at the bedside in this patient population.
The industry has hit out at the European Commission’s proposals for new pharmaceuticals regulations, saying they risk “sabotaging” life sciences in Europe. “Today’s proposals manage to undermine research and development in Europe while failing to address access to medicines for patients,” said Nathalie Moll, director general of the European Federation of Pharmaceutical Industries and Associations.
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