Vertera Spine raised $3.1 million, according to regulatory documents filed this week with the SEC. The Atlanta, Ga.-based company offered equity in exchange for a minimum investment of $2,000 and 29 investors contributed to the round, beginning Feb 7. The privately-held medtech company manufactures spinal fusion devices, including its Cohere cervical interbody fusion device. Cohere […]
Funding Roundup
Ex-Medtronic CEO Hawkins backs CardioNXT in $2m round
A former CEO of Medtronic (NYSE:MDT) and a well-known medical device industry veteran got in on a $2.1 million funding round for CardioNXT, which is developing new tools to treat atrial fibrillation. Ex-Medtronic chief William Hawkins III and Zyga CEO James Bullock led the round, joined by Piedmont Capital Partners and prior backer Solas BioVentures. […]
Alesi Surgical raises $6m to support commercial efforts
Alesi Surgical said this week that it raised $5.8 million to support commercialization of its Ultravision surgical device. Venture capital firms Panakes and Earlybird contributed to the new investment, joined by existing shareholders IP Group and Finance Wales. The company is slated to use the newly-acquired funds to drive commercial expansion of Ultravision into the U.S. […]
Monteris Medical raises $27m Series C for NeuroBlate brain surgery device
Monteris Medical said yesterday that it raised a Series C round worth nearly $27 million it plans to use on R&D, clinical trials and expanding the commercial footprint of its NeuroBlate brain surgery device. Versant Ventures and SightLine Partners led the round, joined by prior backers Birchview Capital and BDC Capital’s Healthcare Venture Fund, Monteris said. The MRI-guided […]
Medtronic increases stake in Saluda Medical
Saluda Medical said it raised nearly $40 million (A$53 million) for the Evoke closed-loop neuromodulation device it’s developing to treat axial back pain. The round was led by a new investor, GlaxoSmithKline‘s (NYSE:GSK) Action Potential Venture Capital, joined by existing backer Medtronic (NYSE:MDT), Artarmon, Australia- and Bloomington, Minn.-based Saluda said. The Evoke spinal cord stimulator is […]
MRI Interventions raises $13.3m in private placement
MRI Interventions (OTC:MRIC) inked a definitive securities purchase agreement today with a group of investors that is slated to bring the company $13.3 million in gross proceeds. The agreement includes 6.6 million aggregate units of common stock and warrants. For each unit purchased, investors will get 1 share of common stock and a warrant to purchase […]
SteadyMed raises another $5m from key shareholder
SteadyMed (NSDQ:STDY) said today that 1 of its largest institutional shareholders exercised warrants to purchase additional shares of the company that the investor got in conjunction with the 1st tranche of a previous private placement. Thanks to the exercise, San Ramon, Calif.-based SteadyMed received an additional $5 million in proceeds. Get the full story at our […]
Senseonics prices $41m underwritten offering for Eversense CGM
Senseonics (NYSE:SENS) said today that it priced an underwritten offering of 29 million shares of common stock at $1.41 apiece to a group of institutional investors. Roche Finance agreed to purchase 21 million shares and New Enterprise Associates agreed to purchase 7 million shares in the offering, according to the Germantown, Md.-based company. Senseonics said […]
Trump proposes deep cuts to Medicaid, NIH funding
President Donald Trump’s proposed budget would slash Medicaid funding and cut support for major biomedical research programs at the National Institutes of Health and the Centers for Disease Control & Prevention. The budget blueprint drew condemnation from healthcare advocates and lawmakers from both sides of the aisle. Senate majority whip Sen. John Cornyn (R-Texas) reportedly said earlier […]
Bain Capital raises $720m life sciences fund
Bain Capital said today that it raised $720 million for its 1st investment fund focused exclusively on the life sciences sector. “We are excited by some of the long-term secular trends in the life sciences space,” Bain Capital Life Sciences managing director Adam Koppel said. “Big pharma is increasingly outsourcing R&D at the same time as many new […]
Symic Bio raises $30m for peripheral vein graft failure therapy
Symic Bio said yesterday that it raised $30 million in a Series B financing round, led by existing investors and HEDA Ventures. Funds from the round are slated to support the company’s clinical programs, including a drug designed to prevent peripheral vein graft failure, SB-030, and a therapy for pain management of osteoarthritis of the knee, […]