TORONTO – A “silent epidemic” all but “ignored” by medical technology developers. That’s how Carlo Perez, founder and CEO of Swift Medical Inc., described the hesitancy of the industry to directly tackle chronic wound care through development of more advanced medical imaging and diagnostic systems. Undaunted, U.S. and Canadian investors have raised $35 million in series B funding to advance development and uptake of Swift Medical’s own AI-powered, digital wound care platform.
Microport Scientific Corp.’s cardiac rhythm disorders subsidiary, Microport Cardiac Rhythm Management Ltd. (Microport CRM), has confirmed agreements for a series C financing that would net it total investment proceeds of $150 million. Hillhouse Capital Group and Microport will co-lead the series C investment with investments of $20 million and $47 million, respectively.
LONDON – Birmingham University spinout 4D Biomaterials Ltd. has raised initial funding of £1.6 million (US$2.2 million) to commercialize a new shape-changing biopolymer for use in soft tissue repair.
Iterative Scopes Inc. picked up $30 million in series A financing to advance artificial intelligence (AI)-powered precision medicine for gastroenterology. The money will be used to further develop the company’s algorithms and to propel its growing life sciences businesses. Spun out of the Massachusetts Institute of Technology by founder and CEO Jonathan Ng, the company is developing AI-driven computational tools to identify appropriate treatments and guide clinical trials for patients suffering from gastrointestinal diseases.
Intervenn Biosciences raised $201 million in a series C financing led by new investors Softbank Group, Heritage Provider Network, Irving Investors and Highside Capital Management. The proceeds are earmarked to speed development and commercialization of Dawn, a liquid biopsy assay for immune checkpoint inhibitor prediction, and to expand the network of partnerships on the company’s artificial intelligence (AI)-driven glycoproteomics platform.
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