Investors are backing neurostimulation device company Stimdia Medical Inc. with $16 million, in the first tranche of a series B offering expected to total $30 million. The Minneapolis-based company is developing a device that stimulates the phrenic nerves in a patient’s neck to exercise the diaphragm during mechanical ventilation and minimize ventilation-induced diaphragmatic dysfunction (VIDD).
Xilis Inc. added $19 million to its series A financing round, bringing the total amount raised to over $89 million. FPV Ventures led the extension, with participation from Alexandria Venture Investments and EQT Life Sciences, Mubadala Capital Management, Pear Ventures, GV, the Duke Angel Network, Catalio Capital Management, Two Sigma Ventures, Felicis Ventures and Alix Ventures.
Medtronic plc has entered a strategic collaboration with Cathworks Ltd. to expand the reach of Cathworks’ artificial intelligence (AI) guidance system for coronary artery disease management. Medtronic will invest up to $75 million and immediately begin co-promotion of the Ffrangio system on the U.S., European and Japanese market. As part of a separate agreement, Dublin-headquartered Medtronic will have the option to acquire Cathworks once certain undisclosed milestones are met.
Clinical analytics company Medial Earlysign Ltd. is expanding an existing partnership with Roche Holding AG to commercialize an artificial intelligence (AI) solution for the early detection of lung cancer. The companies originally signed an agreement in September to develop a personalized health solution for early detection of gastric cancer. The goal of the new collaboration is to develop Earlysign’s Lungflag software, which uses machine learning to identify patients at risk of developing lung cancer.
Ganymed Robotics SAS raised a €21 million (US$21.2 million) series B round to develop its robotic system for total knee arthroplasty (TKA). Health care fund Cathay Health led the round, with participation from Credit Mutuel Innovation, Kurma Partners, BNP Paribas Developpement, and individual surgeons. The funds will be used to finalize development of Ganymed’s TKA surgical assistant and support the company’s expansion in France and the U.S.
Orchestra Biomed Inc. struck a deal with Medtronic plc to develop a cardiac neuromodulation therapy as a potential integrated hypertension treatment for cardiac pacemaker patients. Medtronic also joined a $110 million series D round, led by RTW Investments, to invest in the biomedical company as it announced plans to list on the Nasdaq.
Biomérieux SA is stepping up investments in the antimicrobial resistance (AMR) space through a new new €40 million ($40.75 million) joint venture with Evotec SE and Boehringer Ingelheim GmbH. The companies are teaming up to launch a new company, Aurobac Therapeutics SAS which will develop AMR diagnostic tests and antimicrobial therapies.
Israeli startup Synchrony Medical Ltd. is gearing up to begin a U.S. clinical trial testing an airway clearance method developed at Israel’s Sheba Medical Center. The Libairty device is designed to support chronic lung disease patients to clear mucus with a short home-based daily treatment.
Immunovia AB is progressing a study evaluating its Immray Pancan-d blood test for the early detection of pancreatic cancer in patients with new onset type 2 diabetes. Studies have found that type 2 diabetes is a major risk factor for developing pancreatic cancer, and the screening of molecular biomarkers may help patients access treatment before they develop symptoms. The company’s lab-developed test (LDT) measures nine serum biomarkers that, when combined in an algorithm, can detect pancreatic ductal adenocarcinoma.
A new cancer genomic test co-developed by Illumina Inc. and Merck & Co. Inc. will soon be available globally, excluding the U.S. and Japan. The research use only Trusight Oncology 500 HRD test is designed to identify genetic mutations used in the evaluation of homologous recombination deficiency (HRD), a signal that can indicate tumor formation. The product combines HRD technology from genetic test maker Myriad Genetics Inc. and next generation sequencing (NGS) technology from Illumina.
