A pair of Chinese backers put $18 million into Bionic Vision Technologies and its retinal implant for blindness, the Australian company said today. Hong Kong-based China Huarong International Holdings and State Path Capital ponied up A$23.5 million, BVT said, noting that it plans to use the cash to build devices and launch clinical trials in retinitis pigmentosa, based […]
Funding Roundup
Vascular Dynamics raises $10m for MobiusHD
Vascular Dynamics said this week that it closed a private placement worth $10.4 million that it plans to use on the clinical program for its MobiusHD device for treating drug-resistant hypertension. The MobiusHD implant is designed to reshape the carotid sinus to amplify the signals for baroreceptors lining the blood vessel. Implanted percutaneously, it’s designed to stimulate vasodilation. […]
Siemens CEO Kaeser: We’ll keep a majority stake in Healthineers after split
Siemens (NYSE:SI) will retain a majority stake in its Healthineers business after its planned initial public offering or spinout, CEO Joe Kaeser told a Swiss newspaper this week. The healthcare business, which Siemens rebranded last year to worldwide scorn, is the company’s most profitable unit with an estimated enterprise value of roughly €36 billion to €37 billion ($39 […]
Cardiologists: $6B NIH cut a ‘catastrophe’
Top heart doctors and researchers reportedly described President Donald Trump’s proposed 20% cut to the National Institutes of Health budget as “chilling” and a “catastrophe” at the American College of Cardiology meeting this month. Many expressed fears that as drug companies shift their focus to oncology and rare diseases, NIH-funded research will become more important to […]
Researchers win $1.8m NIH grant to develop implantable system for HIV prevention
Researchers at the University of North Carolina at Chapel Hill won a $1.8 million grant from the National Institutes of Health to develop an implantable drug delivery system for sustained HIV-prevention. The team said it plans to develop an injectable system that steadily releases pre-exposure prophylaxis over long periods of time. The injectable compound is […]
Alphatec raises $19m in private placement
Alphatec (NSDQ:ATEC) said it inked a deal to raise roughly $18.9 million in a private placement led by “new healthcare-dedicated institutional investors.” The placement, expected to close March 28, also included Alphatec directors and executives and other existing backers, the company said. The proceeds are earmarked for general corporate and working capital expenses, Alphatec said. “We appreciate the […]
Valeritas prices $53m IPO
Valeritas today priced its upcoming initial public offering, looking to raise $52.5 million through the sale of 5.25 million shares at $10 per share. The offering includes a 30-day underwriters option for the purchase of an additional 787,500 shares, which would take the total funding possible in the round to approximately $60 million. Bridgewater, N.J.-based Valeritas makes […]
Tandem Diabetes Care prices $22.5m public offering
Tandem Diabetes Care (NSDQ:TNDM) today announced the pricing details of a $22.5 million underwritten public offering. The company priced 18 million shares of its common stock at $1.25 apiece. Tandem also gave underwriters a 30-day option to buy up to an additional 2.7 million shares of common stock at the public offering price. The offering is expected […]
Valeritas raises IPO stakes, looks for $60m
Valeritas this week raised the stakes for its upcoming initial public offering, looking to raise $60 million by floating 6 million shares at between $9 and $11, up from an earlier hoped for $50 million. Bridgewater, N.J.-based Valeritas makes the V-Go basal insulin delivery system for Type II diabetes, a fully disposable, continuous-delivery device that’s designed to […]
Ivenix pulls down $10m tranche in $50m round
Ivenix raised $10 million in equity from 18 unnamed investors in the 1st tranche of its $50 million round, according to regulatory filings. The company indicated that it does not expect the offering to exceed 1 year. It has not made a formal statement about how it plans to spend the newly-acquired funds. The Massachusetts-based start-up […]
Penumbra prices $99m offering
Penumbra (NYSE:PEN) said today that it priced a public offering worth nearly $99 million, not including an underwriter’s option worth nearly $15 million. Alameda, Calif.-based Penumbra makes a line of instruments designed for neurovascular and peripheral vascular procedures, including stroke revascularization, embolization and thrombectomy. The company said it plans to float 1.3 million shares at $76 […]