The lack of funding available for early-stage European med-tech and AI-based companies could soon see many go under as their current backers run out of capital, and new investors fail to materialize, Hubert Birner, managing partner at TVM Capital Life Science, told BioWorld.
Smart Reporting GmbH raised €23 million (US$24.5 million) in a series C funding round for its medical reporting software which automates and streamlines physicians’ workload. The funding is a “significant accelerator” for the company, “catalyzing business growth, product development, and expansion into international markets,” Wieland Sommer, founder and co-CEO of Smart Reporting told BioWorld.
Venture capital (VC) firm TVM Capital Life Science recently co-led a $16 million series A financing for Vektor Medical Inc., which has developed an AI-based tool that identifies potential arrhythmia source locations. The funding is part of TVM’s strategy of investing in med-tech companies which have no development risk and offer an exit opportunity in under four years.
Recurv Pharma Inc. is set to receive investment of up to $24 million from TVM Capital Life Science GmbH to support development up to phase IIa proof of concept of RP-001 to treat solid tumors.
