Oversonic Robotics Srl believes that its humanoid robot Robee could transform health care in Europe as it helps address the challenges of an aging population, rising chronic conditions and the shortage of health care workers. Robee has already received CE mark certification as a class I medical device, and plans are underway to achieve class II certification next year as the company looks to make a significant social impact with its humanoid robot.
Scientists in the U.K. are developing glucose-powered bioelectronics to advance the use and capabilities of implantable medical devices. A research team, led by the University of Bath, received £2.1 million (US$3.3 million) in funding from the government to develop miniature, lightweight and long-lasting glucose fuel cells to help address the invasiveness and limitations of current battery-powered implants.
Customed Ltd. has completed its seed funding round, bringing the total capital raised to $6 million. The company has developed a platform which provides orthopedic surgeons with personalized pre-surgical planning and 3D printed surgical tools. The funds will be used to support regulatory approvals in the U.S. and EU, as well as expansion into additional automated orthopedic indications.
Roche Holdings AG received CE mark approval for its Elecsys Dengue Ag test, a fully automated, high-throughput immunoassay to help diagnose acute dengue virus infections. With cases of dengue on the rise worldwide, the test, which delivers results in 18 minutes, offers high sensitivity and specificity across all four dengue virus serotypes, and will help clinicians confidently distinguish dengue from other illnesses causing acute fever.
Private equity firm GHO Capital raised more than €2.5 billion (US$2.9 billion) for its latest fund to invest in health care companies. The fund, GHO Capital IV LP, is the firm’s largest to date and comes despite a challenging market environment reflecting confidence from investors in GHO’s transatlantic strategy and proven record of outperformance across the health care ecosystem.
Trials are being conducted at three pediatric emergency departments in England of the Memed BV rapid blood test, designed to help health care providers distinguish between bacterial and viral infections. The test developed by Memed Diagnostics Ltd. can deliver results in as little as 15 minutes, speeding up the diagnosis of serious conditions such as sepsis or meningitis in children.
Mode Sensors AS received U.S. FDA 510(k) clearance for its Re:Balans hydration monitoring system. The wearable patch sensor allows for the continuous monitoring of body hydration to detect fluid imbalances using thoracic bioimpedance technology to deliver automatic, accurate data to help physicians in fluid management.
It has been a positive year for med tech compared to previous years, said Antoine Papiernik, chairman and managing partner at Sofinnova Partners. The IPO market has reopened, several large financing deals have closed, and new players have entered the sector.
The U.K’s Engineering and Physical Sciences Research Council provided the University of Oxford with £11 million (US$ 14.7 million) in research funding to develop technologies that will reduce or eliminate chronic pain.
Edap TMS SA signed a €36 million (US$42 million) multi-tranche credit facility with the European Investment Bank, with the first tranche of €11 million expected to be disbursed in early November. The funds will be used to strengthen the company’s balance sheet to support the continued expansion of its Focal One high-intensity focused ultrasound technology in focal therapy and accelerate the development of new clinical indications.
