A new study by the Georgetown Lombardi Comprehensive Cancer Center and the National Cancer Institute indicates that Oncotype DX-guided treatment could cut the cost of first year breast cancer care in the U.S. by $50 million. JNCI published the results of the study on Wednesday. Genomic Health Inc. of Redwood City, Calif., produces Oncotype DX.
Intrinsic Therapeutics Inc. closed a $52 million series growth equity financing led by Questa Capital. Intrinsic's Barricaid Anular Closure device received premarket approval from the U.S. FDA in February and the funds will be used to propel the device's strategic market release, according to the Woburn, Mass.-based company. Returning investors in this round included New Enterprise Associates, Greenspring Associates, Quadrille and Delos Capital.
Helius Medical Technologies Inc. reported that the U.S. FDA rejected the company's request for de novo classification and 510(k) clearance for its Portable Neuromodulation Stimulator (PoNS) device. The FDA cited inadequate evidence to discriminate between the benefit of the device vs. the physical therapy participants with traumatic brain injury (TBI) received in the submitted studies, though it left open the door to resubmission with additional data. PoNS received clearance from Health Canada in October 2018.
Philadelphia-based Healthverity Inc. reported it closed a $25 million series C investment round led by existing investor Foresite Capital. Other major investors included Flare Capital Partners and Greycroft. The new investments bring Healthverity's total venture capital funding to $42.3 million and will be used to further develop the company's health care data platform and expand its marketing.
Healthquest Capital reported it closed a third round of funding at its hard cap of $440 million. The new money brings the total funds under management for the Belmont, Calif.-based health care investor to $785 million. Healthquest plans to invest the additional capital in 15 companies that are optimizing value in health care, according to Garheng Kong, Healthquest Capital's founder and managing partner.
Healthquest Capital reported it closed a third round of funding at its hard cap of $440 million. The new money brings the total funds under management for the Belmont, Calif.-based health care investor to $785 million. Healthquest plans to invest the additional capital in 15 companies that are optimizing value in health care, according to Garheng Kong, Healthquest Capital's founder and managing partner.
