Brainomix Ltd. raised £14 million ($18 million) in a series C financing round to expand its AI-powered imaging solution, Brainomix 360 Stroke, into the U.S. market. Funds will also go towards advancing the Brainomix 360 E-Lung, which can accurately predict the progression of lung fibrosis. “This series C round is a vital fundraise for us,” Michalis Papadakis, CEO and co-founder of Brainomix, told BioWorld. “We are in a growth stage where we want to bring this next generation of stroke AI into the U.S. market.”
Brain.space Ltd. raised $11 million in a series A funding round for its technologies which uses brain data and AI to understand and predict human behavior. The round was led by Toyota Ventures, with significant participation from Mangrove Capital Partners and The Group Ventures. The funding included a $3.5 million non-dilutive grant from the Israel Innovation Authority.
In a move that surprised many across the health care sector, the U.K. government decided to scrap NHS England, the body which runs the national health service (NHS), and bring it under the control of ministers. “I don’t see why a decision about £200 billion of taxpayer money on something as fundamental to our security as the NHS should be taken by an arms-length body, NHS England,” said Prime Minister, Keir Starmer.
The €1.6 million (US$1.7 million) in seed funding that MSInsight SAS recently raised is vital for the next phase of growth of the company, Arnaud Cutivet, president and co-founder, told BioWorld. MSInsight is developing a software, MSIcare, which uses sequencing technology to detect microsatellite instability (MSI) in solid tumors and liquid biopsies.
Neuromod Devices Ltd. raised €10 million (US$10.9 million) in financing to expand the reach of Lenire, which treats tinnitus. The fundraise, which was an expansion of its series B financing round, was led by existing investors Fountain Healthcare Partners and Panakès Partners.
Sooma Oy secured U.S. FDA investigational device exemption approval to initiate a pivotal study of its transcranial direct current stimulation medical device in people with major depressive disorder. The study will examine the efficacy of the non-invasive Sooma 2Gen device in improving MDD as an at-home treatment.
With millions of people suffering from chronic back pain, Discure Technologies Ltd. is hoping that its bioelectronic therapy, the Discure system, will soon bring relief.
The U.K.’s national health service (NHS) is rolling out a new artificial intelligence (AI)-powered tool which can predict a patient’s risk of falling with a 97% accuracy rate. The AI software designed by Cera Care Ltd. is already in use in more than two-thirds of NHS integrated care systems across the country and NHS England hopes that the tool will prevent around 2,000 falls and hospital admissions each day.
Relief Srl raised more than €1 million (US$1.08 million) in financing for Urorelief, its endourethral medical device which treats stress urinary incontinence. The Italian startup will use the funds to conduct clinical trials to validate the device as it looks to transform the lives of men and women suffering from the condition.
Sofinnova Partners raised a whopping €1.2 billion (US$1.26 billion) over the past year to invest in life sciences companies ranging from incubation to later-stage growth, and spanning biotech, med tech, industrial biotech and digital medicine.
