Sword Health Technologies Inc. slipped another $189 million into its coffers with an oversubscribed $163 million series D fundraising round that spilled into an additional $26 million secondary transaction. The enthusiasm for the round points to the keen interest in digital delivery of musculoskeletal (MSK) physical therapy, which has driven Sword and competitor Hinge Health Inc. both into rarified unicorn territory with valuations of $2 billion and $6.2 billion, respectively.
LONDON – Breath biopsy specialist Owlstone Medical Ltd. closed a $58 million oversubscribed series D, bringing the total raised by the company since its formation in 2016 to over $150 million. The money will support further development of tests for lung cancer, liver disease and respiratory disease, and of a new class of diagnostics, which rather than measuring endogenous markers of disease, involve administering chemical probes and assessing how they are metabolized.
Proceeds from Vedanta Biosciences Inc.’s just closed $68 million series D financing will be used for a phase III study of the company’s lead candidate, VE-303, composed of eight clonal human commensal bacterial strains to give colonization resistance for treating Clostridioides difficile (C. diff) infection, and also for a phase II study of VE-202, made up of 16 clonal human commensal bacterial strains for treating inflammatory bowel disease.