There has been much recent hand-wringing about the lack of availability of funding for medtech startup, but analysts at PricewaterhouseCoopers see it a little differently.
Funding Roundup
CardioDx aims for $92M IPO
California molecular diagnostics company CardioDx unveiled new details of its initial public offering, slated to raise $92 million through shares priced at $14-$16 apiece.
Once the IPO launches, CardioDx will trade on the Nasdaq stock market under the symbol "CDX."
Medtech startups get creative amid VC shortage | MassDevice.com On Call
MASSDEVICE ON CALL — The medtech venture capital shortage continues to plague young companies, with 2013 funding slated to be as much as 40% lower than it was 5 years ago.
That means medtech startups are searching for unorthodox ways to fill their coffers, including by asking family members and local celebrities to kick in some cash, according to a Wall Street Journal report.
Tandem Diabetes details venture-backed $123M IPO
Tandem Diabetes Care upped the ante on its venture-backed initial public offering, increasing its maximum aggregate price to $123.2 million and pricing shares at between $13-$15 apiece.
The company, maker of the touch-screen t:slim insulin delivery system, will begin trading on the Nasdaq exchange under the ticker ‘TNDM’ following the IPO.
Mazor Robotics rakes in $47M from offering
Mazor Robotics (NSDQ:MZOR) said it raked in a total of $46.9 million from a stock offering announced last week, including a last-minute $5.9 million addition from an over-allotment.
The Caesarea, Israel-based robotics company makes the Renaissance robotic surgery system for spinal surgeries.
Vention Medical raises $2.5M
Vention Medical said it raised $2.5 million in an equity round.
The round comes on the heels of Salem, N.H.-based Vention’s acquisition of Fast Forward Medical last week.
Vention, which is owned by KRG Capital Partners, said the funding round came from 5 unnamed investors.
OrbiMed launches $735M fund
OrbiMed said it launched a new, $735 million fund to back life science companies.
The new fund is slated for investment in all sectors of the healthcare industry, with a focus on North American and European biopharmaceutical, medical device, and diagnostics companies, according to a press release.
The fund is expected to go into roughly 30 companies in slices of $10 million to $50 million apiece, according to the release.
DaVita gets in on $12M round for CVRx
CVRx said it added $12 million from DaVita HealthCare, Ysios Capital and others to its Series F funding round, taking the total for the round to $42 million.
The Minneapolis-based company is planning to use the money to advance clinical trials and expand its international commercial footprint, according to a press release. CVRx developed the Barostim Neo, a pacemaker-like device designed to treat hypertension.
Svelte Medical Systems raises $22 million
Svelte Medical Systems said it raised $22 million to complete a clinical trial of its coronary stent platforms, taking its total raise to $65 million since 2007.
Venture capital shops New Science Ventures and CNF Investments led the latest round for New Providence, N.J.-based Svelte, which the medical device company said it plans to use to complete its Direct II clinical trial as it gears up for commercialization.
Mazor Robotics prices $41M offering
Mazor Robotics (NSDQ:MZOR) said it plans to offer 2.4 million shares of stock at $17 apiece, for total proceeds of $40.8 million.
Edwards Lifesciences gets in on $3M Series A tranche for Middle Peak Medical
Middle Peak Medical said it added $3 million from Edwards Lifesciences (NYSE:EW) and other investors to its Series A round, taking the total raise to $11 million.