Bright Uro announced today that it closed $23 million in a Series A funding round to support its Glean urodynamics system. Irvine, California–based Bright Uro plans to use the funding to help garner FDA 510(k) clearance for Glean. It set its sights on a U.S. launch for the product in 2024. Glean, a comprehensive system, […]
Funding Roundup
1nhaler raises $2.5M for sustainable single-use inhaler
1nhaler announced today that it raised $2.5 million (£2 million) to develop a sustainable single-use dry powder inhaler. The Scotland-based drug delivery device developer cited limited inhalable medicine development due to a number of reasons. Those include accessibility, cost, performance and environmental impact. Its own development could enable the delivery of several dry powder drugs […]
Neuralink raises another $43M for brain-computer interface
Elon Musk’s Neuralink brain-computer interface (BCI) venture recently filed an SEC Form D confirming the sale of $43 million in equity. The SEC filing shows a total of more than $323 million raised by the brain implant maker. After Musk announced in August that Neuralink brought in $280 million, the latest investment totals around $43 […]
Cytovale raises $84M Series C for sepsis diagnostic
Cytovale announced today that it raised $84 million in a Series C funding round to support its rapid sepsis diagnosis test. San Francisco-based Cytovale plans to use the funds to further expand the reach of its FDA-cleared IntelliSep sepsis test. The FDA cleared IntelliSep, which aids hospital emergency departments and health systems, in January. IntelliSep […]
Virtuoso Surgical adds $1.8M in grant funding to support surgical robot
Virtuoso Surgical announced that it received a $1.8 million NIH Small Business Innovation Research (SBIR) grant. Nashville-based Virtuoso Surgical will receive the grant over the next two years. The funds support its robotic surgery system that utilizes a new scale of robotic tools and maneuvers in endoscopic surgery. Virtuoso designed its system with two robotically […]
Femasys secures nearly $7M in funding from PharmaCyte
Femasys this week announced it received a strategic upfront investment of $6.85 million from biotech company PharmaCyte Biotech. Atlanta-based Femasys is developing a broad portfolio of in-office and accessible therapeutic and diagnostic products for women worldwide. Its FemBloc is in late-stage clinical development for permanent birth control. Its FemSeed for infertility treatment is FDA-cleared and […]
Elucid raises $80M Series C for AI-powered imaging analysis software
Elucid announced today that it raised $80 million in a Series C funding round to support its AI-powered imaging analysis software. Boston-based Elucid says the funding could help to expand its commercialization efforts. With a $27 million Series B raised last year, the company has now raised $121 million in total since inception. Elevage Medical […]
Intracardiac pressure monitoring device startup Acorai raises €2.3M
Acorai announced today that it received a $2.5 million (€2.3 million) grant to support its non-invasive intracardiac pressure monitoring system. The European Innovation Council (EIC) selected Helsingborg, Sweden-based Acorai for the grant. It also features a follow-on investment offer worth $10.7 million (€10 million) for the maximum funding amount. Acorai develops a first-of-its-kind device aimed […]
Philips picks up funding from Gates Foundation for AI-powered maternal health ultrasound
Philips announced today that it received a second round of funding from the Bill & Melinda Gates Foundation for its ultrasound technology. The funding goes toward accelerating the global adoption of AI algorithms on the Philips Lumify handheld ultrasound system. Philips’ system utilizes AI to simplify key measurements to identify abnormalities during pregnancy. This can […]
Align Technology makes $100M open market stock repurchase
Align Technology (Nasdaq:ALGN) announced today that it plans to repurchase $100 million of its own common stock. Tempe, Arizona-based Align Technology’s open market repurchase falls under its $1 billion stock repurchase program. The company’s board approved the program in January 2023. Align Technology executed a $250 million repurchase in February of this year with Citibank. […]
Avail Medsystems abruptly shuts down
Avail Medsystems — which emerged from the pandemic as one of the leading companies building virtual connections between medical device sales reps and operating rooms — has shut down. Multiple sources have confirmed yesterday’s shutdown to MassDevice. People familiar with the company say Avail failed to close on a new round of capital necessary to […]