Pavmed Inc. (NSDQ:PAVM) today reported the preliminary results of its offer to exchange two Series W warrants for a single Z warrant. Approximately 10,151,682 Series W warrants were tendered and not withdrawn, which represents 96.4% of outstanding Series W warrants, the New York-based company said. Get the full story at our sister site, Drug Delivery Business News. […]
Funding Roundup
NIH launches $1.1B initiative to accelerate treatment options for opioid addiction
At the 2018 National Rx Drug Abuse and Heroin Summit today, National Institutes of Health director Dr. Francis Collins announced that the agency is launching the ‘Helping to End Addiction Long-term’ initiative. The NIH expects to spend nearly $1.1 billion in 2018 on research dedicated to expanding treatment options for people who are addicted to opioids, Collins […]
Eli Lilly inks $63m deal with Sigilon to develop encapsulated cell therapies for diabetes
Eli Lilly (NYSE:LLY) plans to put $473 million on the table to fund a collaboration with Cambridge, Mass.-based startup Sigilon Therapeutics, the insulin-maker reported today. The goal of the newly-established partnership is to develop encapsulated cell therapies to treat Type I diabetes. Get the full story at our sister site, Drug Delivery Business News.
Brainomix raises $10m for AI stroke imaging tech
Brainomix said today that it raised nearly $10 million for the e-ASPECTS stroke imaging technology it’s developing using artificial intelligence. The £7 million round was led by Parkwalk Advisors, joined by existing backers Chimera Partners and Oxford University Innovation Fund and the venture arm of pharma giant Boehringer Ingelheim. Oxford, England-based Brainomix said its tech is […]
7 digital health startups you need to watch in 2018
If you want to see where the big money is going in healthcare these days, digital health products are the place to look. Digital health startups raised $11.5 billion in 2017, up 27 percent over 2016, according to the StartUp Health Insights Year End Report. Digital health startups are doing everything from enhancing patient-provider relationships to […]
Pulmatrix prices $15m underwritten public offering
Pulmatrix (NSDQ:PULM) today priced an underwritten public offering of 23,500,000 units, including one share of common stock, one Series A warrant to buy one share of common stock and one Series B warrant to buy one share of common stock per unit. The Lexington, Mass.-based company also gave underwriters a 30-day option to buy an additional […]
Bigfoot brings Series B total to $55m with new investment from Abbott
Reeling in an $18 million add-on to the $37 million Series B that it reported last year, Bigfoot Biomedical touted today that it has raised over $90 million in total funding since the Milpitas, Calif.-based company first launched. Investments from Abbott (NYSE:ABT), which has an established partnership with Bigfoot, and other new and existing investors, brought the Series B round total […]
Tela Bio lands $1m investment for surgical implants
Privately-held Tela Bio said this week that it landed a $1 million investment from ProMedica, a not-for-profit healthcare group serving northwest Ohio and southern Michigan. According to the deal, Tela Bio and ProMedica Innovations Venture Fund plan to strike a strategic relationship to educate surgical specialists at the ProMedica Hernia Center using Tela Bio’s regenerative surgical implants. […]
GlycoMimetics prices $119m public offering
GlycoMimetics (NSDQ:GLYC) priced an underwritten public offering of 7,000,000 shares of common stock at $17.00 apiece today, reporting that it expects to bring in $119 million from the offering. The Rockville, Md.-based company plans to offer underwriters a 30-day option to buy an additional 1,050,000 shares of common stock at the same price. Get the full […]
Optum CEO Renfro steps down to lead expanded investment fund
In a major personnel shift, UnitedHealth Group (NYSE:UNH) announced this week that Larry Renfro, CEO of its subsidiary Optum, will step away from the corner office to become managing partner of Optum Ventures and its expanded $600 million investment fund. Ex-GlaxoSmithKline (NYSE:GSK) chief executive, Andrew Witty, will take Renfro’s place as CEO of Optum on […]
Siemens Healthineers shares jump after $5B IPO
Shares in the newly public healthcare arm of Siemens (NYSE:SI) gained nearly 7% today after raising more than $5 billion in an initial public offering. Investors paid €28.00 per share for 150 million shares, for a collective 15% stake in Siemens Healthineers (SHL.F), raising €4.2 billion ($5.18 billion). The stock opened up 3.9% at €29.10 apiece and soared as […]