Funding roundup: PneumRx nets $33 million

January 4, 2011 By MassDevice staff Leave a Comment

Here’s a roundup of the latest dealflow and investment news:

PneumRx nets $33 million
PneumRx Inc. raised $33 million in working capital commitments, according to the company. The oversubscribed round was led by Europe-based venture capital firms Forbion Capital Partners and Endeavour Vision. Previous investors Adams Street Partners, Telegraph Hill Partners, Alta Partners and Spray Venture Partners also supported the round. Silicon Valley Bank and Leader Ventures also provided financing. The funding is designed to support the Mountain View, Calif.-based medical device company’s RePneu lung volume reduction coil system and a pivotal clinical trial to intended to support a pre-market approval application, according to PneumRx.
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Neograft Technologies raises $3 million
Neograft Technologies Inc. raised $3 million from five unnamed investors in an equity-based round, according to an SEC filing. The Pittsburgh, Pa.-based company is developing a device called Angioshield "for delivery of controlled temporary structural support to veins intended for use as [arterial vein grafts]," according to the company’s website.
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Zeo pulls in 12.3 million
Zeo Inc. raised $12.3 million from a $15.4 million round, according to an SEC filing. The equity-based financing came from 13 unidentified investors. In August 2010 the Newton, Mass.-based sleep-monitoring company, formerly known as Axon Labs, raised $1 million in a debt-based round.
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Cambridge Heart announces exercise of options worth $752,000
Cambridge Heart Inc. (OTC:CAMH) announced that all investors in the Dec. 2009 Series D convertible preferred stock financing elected to exercise the outstanding short-term warrants. The exercise of the short-term warrants generated a total of $752,000 in proceeds, and resulted in the issuance of slightly more than 7 million shares of common stock, according to the Tewksbury, Mass.-based developer of non-invasive diagnostic tests for cardiac disease.
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Augmenix drums up $3 million
Augmenix Inc. raised $3 million in the form of equity and debt from 22 unnamed investors, according to an SEC filing. The Waltham, Mass.-based company makes the SpaceOAR prostate-rectum separation hydrogel system intended to protect the body during radiotion oncology procedures.
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Iquum extracts $4 million from investors
Iquum Inc. raised $4 million from six unnamed investors in a debt and options-based round, according to an SEC filing. The Marlborough, Mass.-based biological sample testing technology developer is looking to raise another $1 million.
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NeuWave raises $5.6 million
Madison, Wis.-based NeuWave Medical Inc. raised $5.6 million of an $8 million round ahead of its sales efforts for a cancer treatment that recently won Food & Drug Administration 510(k) clearance. The equity and debt-based round was supported by 19 unidentified investors, according to SEC filings.
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Siemens Healthineers lands FDA clearance for two CT systems
Siemens Healthineers this week said it won FDA clearance for its Somatom go.Sim and Somtom go.Open Pro computed tomography systems. The CT systems are designed for radiation therapy planning and are members of the company’s Somatom go. platform of devices. Siemens Healthineers’ platform uses hardware and software components like patient marking lasers and automated quality… […]
Protolabs’ healthcare grant spurs 2 feeding tube inventions
Digital manufacturer Protolabs (NYSE:PRLB) announced today that MedStar Health (Columbia, Md.) and Cleveland Clinic Innovations are joint winners of the company’s Cool Idea Award: Healthcare Grant. These grants provide in-kind manufacturing services to the support development of medical products to spur innovation in the field. MedStar Health’s gravity-feed syringe holder simplifies the feeding of newborns who spend […]
Sterigenics’ legal troubles mount in Illinois
Nearly two dozen new lawsuits were filed against Sterigenics this week over its now-shuttered ethylene oxide (EtO) sterilization plant in Willowbrook, Ill., according to a law firm representing some of the plaintiffs. That brings the total of such lawsuits to nearly 75, noted Chicago personal injury lawyer Antonio Romanucci, court-appointed lead counsel from among five… […]
In2Bones launches AlloAid BioNail
In2Bones this week launched its AlloAid BioNail sterile allograft implant. The implant is designed to give rigid, stable fixation during hand and foot reconstruction. AlloAid BioNail is made from strong cortical allografts to provide osteoconductive properties for bone remodeling and healing. It features a tapered point and multiple, contoured wedge facets to ease insertion, anchor… […]
Protolabs’ healthcare grant spurs 2 feeding tube inventions
Digital manufacturer Protolabs (NYSE:PRLB) announced today that MedStar Health (Columbia, Md.) and Cleveland Clinic Innovations are joint winners of the company’s Cool Idea Award: Healthcare Grant. These grants provide in-kind manufacturing services to the support development of medical products to spur innovation in the field. MedStar Health’s gravity-feed syringe holder simplifies the feeding of newborns… […]
Nihon Kohden launches new patient monitor
Nihon Kohden (TYO:6849) announced the U.S. launch of its Life Scope SVM-7200 series vital signs monitor for outpatient facilities and beds that aren’t continuously monitored. The Life Scope SVM-7200 is designed to provide customizable early warning scoring to help clinicians identify patients who are deteriorating or at risk of deterioration. It combines vital signs data with… […]
Senate confirms Dr. Stephen Hahn to lead FDA
The U.S. Senate has confirmed Dr. Stephen Hahn as the next commissioner of the FDA. The vote was 72 to 18, according to a report in the New York Times. Hahn will be the first permanent commissioner of the agency since Dr. Scott Gottlieb resigned in April. President Trump nominated Hahn, the chief medical officer at Houston’s… […]
3M to sell drug-delivery biz to Altaris Capital Partners for $650m
3M (NYSE:MMM) announced today that it entered into an agreement to sell most of its drug-delivery business to an affiliate of Altaris Capital Partners for approximately $650 million. St. Paul, Minn.-based 3M will retain its transdermal drug delivery components business, according to a news release. The business being divested has annual global sales reaching approximately… […]
Lawsuit endangers Sterigenics consent order in Georgia
A consent order that Sterigenics entered into with the state of Georgia to reduce ethylene oxide (EtO) emissions at its Atlanta medtech sterilization plant may be in jeopardy. A hearing is scheduled today on a lawsuit that accuses the Georgia Environmental Protection Division (EPD) of failing to take public comment before entering the Aug. 7… […]
Trelleborg acquires Tritec Seal
Trelleborg Sealing Solutions said today it has closed on its acquisition of rotary seal manufacturer Tritec Seal, which produces engineered polytetrafluoroethylene (PTFE) sealing solutions. Trelleborg said the acquisition strengthens its product portfolio while giving the business area access to increased manufacturing capacity. Headquartered in Fenton, Mich., with additional manufacturing in Giddings, Texas, Tritec Seal generated… […]
RSNA 2019: 7 radiology innovations you need to know
Nearly 53,000 people attended the 2019 Radiological Society of North America annual meeting in Chicago last week. And they heard the same acronym over and over again: AI. Exhibitors at the conference touted their artificial-intelligence-enhanced technology at every turn, claiming to make images clearer, sharper, easier to use and powerful enough to help clinicians make… […]