The €15 million (US$16.45 million) loan Smart Reporting GmbH recently received from the European Investment Bank (EIB) will take the company a “long way” as it looks to expand the use of its artificial intelligence (AI)-based medical documentation technology which “helps clinicians improve their workflow and patients to get better care,” co-CEO Peter Vanovertveld, told BioWorld.
Swiss biotech firms raised CHF1.3 billion (US$1.5 billion) in equity and debt financing in 2022, a fall of 60% from the previous year’s total of over CHF3.3 billion. But it’s still ahead of historic pre-pandemic levels of funding.
The gastroenterology team at the Paoli-Calmettes Institute in Marseille, France is conducting a therapeutic trial using G-Eye, the latest generation of colonoscope from Hanofar, Israel-based Smart Medical Systems Ltd. “The aim is to increase the detection rate of polyps thanks to a new type of device that can be connected to the current colonoscopes on the market,” Jean-Philippe Ratone, the principal investigator of the study and gastroenterologist at the Paoli-Calmettes Institute told BioWorld.
The European Commission is bringing out rules designed to further simplify and streamline procedures for pharmaceutical companies planning on merging under EU Merger Regulation rules. The commission assesses mergers and acquisitions of companies whose turnover exceeds certain thresholds to prevent concentrations that would significantly impede effective competition in the European Economic Area or in a substantial part of it.
Nyxoah SA reported it successfully raised $3 million to ramp development of its Genio technology for the treatment of obstructive sleep apnea. This fundraising took the form of private placement of shares on the Nasdaq. They were acquired by Sydney-based Cochlear Ltd., an existing Nyxoah shareholder.
The Ministry of Health and Prevention has just published a decree introducing the anticipated coverage by the National Health Insurance Fund of digital medical devices and remote medical monitoring activities.
The €13.8 million (US$15.25 million) Kiro SAS recently raised in its series A financing led by Sofinnova Partners will enable the company to further develop its artificial intelligence (AI) platform, which standardizes and analyzes laboratory test results, making them more relevant to doctors and easier for patients to understand. The funding will also allow the company to prepare the groundwork to enter the U.S. market where, Alexandre Guenoun, CEO at Kiro, told BioWorld, there is a huge “opportunity” for the AI platform following changes to regulations which require laboratories to communicate test results directly to patients.
New York-based Apos Medical Assets Ltd., doing business as Aposhealth, has been developing a shoe that provides some relief from pain and disability in patients who are candidates for total knee arthroplasty (TKA), and the Apos shoe seems to have gained a toehold in the U.K. market. The National Institute for Health and Care Excellence (NICE) has provided a guarded recommendation for the use of the Apos shoe in the U.K., although the agency still has questions as to how long use of the shoe can delay the need for TKA.
Diabeloop SA reported a partnership with Novo Nordisk A/S. The med-tech is planning to integrate DBL-4pen, its self-learning algorithm for multiple daily injection therapy, into Novo Nordisk's connected, reusable insulin pens: Novopen and Novopen Echo Plus. “Our partnership is designed to deliver more automated solutions to people with diabetes, optimizing outcomes and improving quality of life,” Cecile Ferracci, CCO of from Grenoble, France-based Diabeloop, told BioWorld.
Sirius Medical BV reported successfully closing a $13 million series B round to develop its tumor localization technology. This round was led by Holland Capital Management BV, with support from existing investor BOM Capital BV – through their vehicle, Brabant Ventures – along with Curie Capital BV and Team Holmium BV, plus major investment from Sirius Medical’s management and team. Norgine Ventures Management Ltd., joined as a new investor in this round.
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