New hires and promotions in the med-tech industry, including: Axosim, Biosig, C2Sense, Cutera, Delphinus, Envoy Medical, GE Healthcare, Orthofix Medical.
Med-tech happenings, including deals and partnerships, grants, preclinical data and other news in brief: Alzpath, Brainsway, Deepqure, Roche, Surmodics.
Abbott Laboratories received U.S. FDA clearance for its Lingo and Libre Rio over-the-counter continuous glucose monitoring systems, enabling it to challenge Dexcom Inc. in this rapidly growing market. Dexcom received FDA clearance for its OTC Stela continuous glucose monitor in March.
Amber Therapeutics Ltd. has raised $100 million in a series A funding round to further develop its implantable closed-loop bioelectrical therapy to treat women suffering from mixed urinary incontinence. The financing is one of the largest series A rounds ever seen in Europe’s medical technology space and comes at a time when many med-tech companies are struggling to raise funds.
The med-tech industry has maintained its financing momentum into May, with the first five months of 2024 raising $12.7 billion, marking a 42% increase from $8.95 billion during the same period in 2023. Notably, May alone saw $5.05 billion in total med-tech financings, a 307% rise from $1.24 billion in April, and the highest monthly total reported by BioWorld MedTech since November 2022.
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