Zenflow announced over the past week that it has raised $24 million in a Series B round. The South San Francisco, Calif.–based company — which has a minimally invasive treatment for urinary obstruction caused by an enlarged prostate — also appointed Susan Stimson as its president. Stimson was a founding member of ear, nose and […]
Funding Roundup
HHS wants investors to help prevent next pandemic
The U.S. Department of Health and Human Services (HHS) is turning to venture capital to speed the development of medical devices to stave off or fight public health emergencies. HHS’s Biomedical Advanced Research and Development Authority (BARDA) plans to provide the nonprofit Global Health Investment Corporation (GHIC) with a minimum of $50 million over five years, with […]
Lyra inks $135M partnership to expand chronic rhinosinusitis treatment in Asia
Lyra Therapeutics (NSDQ:LYRA) announced today that it entered into a strategic partnership with LianBio for its LYR-210 treatment for chronic rhinosinusitis. Watertown, Mass.–based Lyra, which develops the LYR-210 therapeutic to be locally delivered by its proprietary XTreo platform, could receive up to $135 million in total payments through the strategic partnership and exclusive license agreement […]
MedTech 100 roundup: On the rise again
Last week provided a glimmer of light for medtech after a rough few weeks as the industry continues to push in the right direction. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (May 28) at 108.5 points, producing a 0.7% rise from the 107.74-point mark […]
Titan Medical collects $10M milestone payment from Medtronic
Titan Medical (TSX:TMD;OTC:TITFX) announced today that it received another $10 million for licensing developed technologies to Medtronic (NYSE:MDT). Toronto-based Titan Medical completed the second technical milestone under the development and license agreement it made with Medtronic in June 2020. The company achieved the first milestone in the agreement in October 2020 by raising $18 million […]
Rapid Medical raises $50M to support its minimally invasive stroke treatments
Rapid Medical has completed an oversubscribed Series D financing worth $50 million, with money slated to support rapid worldwide commercialization of the Yokeam, Israel–based company’s minimally invasive stroke treatment tech. The money raised comes on the heels of FDA clearance of the company’s Tigertriever revascularization device to treat ischemic stroke. Touted as a new class […]
MedTech 100 roundup: More growth ahead?
A turgid month for the medtech industry might be drifting into the past after the past week indicated a slight turnaround as summer nears. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week at 107.74 points, marking a 1.4% rise from the 106.22-point mark set one […]
Giiant Pharma raises $11M for drug delivery platform for gastroenterology
Giiant Pharma announced today that it closed a $11 million seed financing round for its drug delivery technology platform. Montreal-based Giiant develops the Precision Delivery technology platform, which originated from the work of former Merck Frosst scientists, according to a news release. The company designs gut-restricted, tissue-specific, small-molecule drug therapeutics to be delivered through the platform. […]
Memic may go public through merger with SPAC
Memic Innovative Surgery is reportedly eyeing a move to go public through a merger with SPAC MedTech Acquisition Corp. Bloomberg reported that people with knowledge of the matter say that Memic, which develops Hominis, the first FDA-approved, robotically assisted surgical device for performing transvaginal hysterectomy, is in talks over going public with the SPAC. A […]
Teleflex selling some respiratory assets to Medline
Teleflex (NYSE:TFX) announced today that it agreed to sell a significant portion of its respiratory business to Medline Industries for $286 million. Total consideration for the sale amounts to $286 million, reduced by $12 million of working capital to be retained by Teleflex, according to a news release. Assets set to be divested generated revenues […]
Axonics closes $201.3M offering
Axonics (NSDQ:AXNX) announced today that it closed a public offering of common stock worth proceeds of more than $200 million. Irvine, Calif.-based Axonics, which develops the Axonics r-SNM (sacral neuromodulation) system to treat bladder and bowel dysfunction, offered more than 4 million shares of its common stock at $50 per share, according to a news […]
