Investors in Cathvision ApS are backing the company with an additional $7.2 million to accelerate U.S. commercialization of its electrophysiology (EP) recording system, Ecgenius. The ECG support technology is designed to detect cardiac electrograms with minimal baseline noise so electrophysiologists can accurately interpret complex arrhythmias, including atrial fibrillation (AF). In May, the U.S. FDA granted the Copenhagen-based company 510(k) clearance for the system.
Western Australia’s private investment group Tattarang has launched a new AU$250 million (US$173.6 million) investment fund called Tenmile that will invest in early stage Australian biotech and med-tech companies. One of Australia’s largest private investment groups, Tattarang is owned by the Forrest family and has five business divisions made up of real estate, agriculture, energy, mining and hospitality.
As amounts raised through financings are significantly shy of last year, med-tech deals and M&As appear strong, with digital health dominating the landscape.
Beijing Longwood Valley Medical Technology Co. Ltd. (also known as Changmugu Medical) recently completed a series B financing of ¥540 million ($79.7 million) to advance its artificial intelligence (AI) medical products. It also signed a strategic partnership with Johnson & Johnson Medical China Ltd.
Moximed Inc. has received $40 million in series C financing to pursue regulatory approval for its implantable shock absorber (ISA) for knee osteoarthritis (OA). Fremont, Calif.-based Moximed secured backing from investors including Advent Life Sciences, New Enterprise Associates, Future Fund, Vertex Healthcare and Runway Growth Capital to advance the Misha knee system. The company is touting the technology as the world’s first implantable shock absorber for OA.
Med-tech financings are still down by 55% in comparison with the same time frame last year, but they have gained some ground by narrowing the gap with the pre-pandemic year of 2019.
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