Neovasc (NSDQ:NVCN) announced that it entered into agreements for the sale of its common shares worth approximately $6.1 million. Vancouver, Canada-based Neovasc sold an aggregate of more than 6.2 million common shares at a purchase price of 98¢ per share in the registered direct offering, according to a news release. Aggregate proceeds are expected to come […]
Funding Roundup
BrainsGate raises $14M
Ischemic stroke treatment developer BrainsGate announced today that it secured a $14 million investment to fund future regulatory efforts. Caesarea, Israel-based BrainsGate’s funding round included contributions from new investor BNP Joint Capital Fund, which led the round along with investment and consulting firm SPERO. Elron, Medtronic, Agate, Pitango and Cipio also participated in the round. […]
Everlywell raises $175M
Everlywell announced today that it completed an oversubscribed Series D financing round, bringing in proceeds of $175 million. Austin, Texas-based Everlywell’s latest round included new investors such as BlackRock, The Chernin Group (TCG), Foresite Capital, Greenspring Associates, Lux Capital, Morningside Ventures, and Portfolia, as well as existing investors Goodwater Capital, Highland Capital Partners, and Next […]
Chembio lands $12.7M from BARDA for point-of-care test
Chembio Diagnostics (NSDQ:CEMI) announced that it received a $12.7 million contract from BARDA for its rapid COVID-19 test. Hauppauge, N.Y.-based Chembio said in a news release that the contract will support the development of and pursuit of FDA emergency use authorization (EUA) for its rapid, multi-plex DPP respiratory antigen panel point-of-care testing system ahead of […]
RxSight secures $60M credit facility
Oxford Finance announced today that it closed a $60 million senior secured term loan with intraocular lens maker RxSight. Aliso Viejo, Calif.-based RxSight develops what it touts as the world’s first and only FDA-approved adjustable intraocular lens that is customized after cataract surgery. RxSight’s lens is designed to deliver superior visual outcomes with its post-cataract […]
Zimmer Biomet donates $2M to NAACP to fight racial injustice
Zimmer Biomet (NYSE:ZBH) announced today that it launched the Zimmer Biomet Foundation with a $2 million donation to the NAACP. Warsaw, Ind.-based Zimmer Biomet’s foundation is a philanthropic organization seeking to empower diverse and underserved communities, support STEM education, enable community health and provide disaster relief, according to a news release. The Zimmer Biomet Foundation followed […]
Medtronic and its foundation donate $3.8M more to COVID relief
Medtronic (NYSE:MDT) and the Medtronic Foundation announced a commitment of $3.8 million in support of COVID-19 relief. The $3.8 million donation is earmarked for providing healthcare workers support and protection, as well as including mental heatlh support, operational support and food assistance to communities and organizations in need, adding to a $10 million pledge made at […]
AliveCor closes $65M Series E
AI-based electrocardiogram (ECG) technology developer AliveCor announced today that it has closed a $65 million Series E financing round. Mountain View, Calif.-based AliveCor plans to use proceeds from the financing round to accelerate the growth of its remote cardiology platform, both domestically and globally, according to a news release. AliveCor is augmenting its artificial intelligence-powered […]
MedTech 100 roundup: Stocks remain high after record-setting week
Medtech stocks have been on the rise since positive news regarding COVID-19 vaccines broke last week, breaking a record in the process. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 98.99 (Nov. 13), marking a 1.4% uptick from the 97.62 points registered at the […]
Baxter lands major DoD contract
The U.S. Defense Dept. (DoD) announced that it awarded Baxter (NYSE:BAX) $40 million for its infusion pumps and accessories. Baxter’s contract includes a maximum $40 million fixed-price award with economic-price-adjustment and indefinite-delivery/indefinite-quantity for its infusion pumps and accessories. The competitive acquisition had 105 offers received. Get the full story at our sister site, Drug Delivery Business […]
X-Cor Therapeutics raises $2.6M
X-Cor Therapeutics announced that it closed a $2.6 million seed financing round to move its technology toward clinical trials. The Boston-based company developing a novel extracorporeal carbon dioxide removal device is a portfolio company of Alira Health’s investment arm, Alira Health Ventures, according to a news release. Alira Health Ventures led the financing round, with […]
