Funding roundup: PneumRx nets $33 million

January 4, 2011 By MassDevice staff

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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Using gold nanoparticles to detect COVID-19
Scientists from the University of Maryland School of Medicine have developed an experimental diagnostic test for COVID-19 that they say can visually detect the presence of the virus in 10 minutes. It uses a simple assay containing plasmonic gold nanoparticles to detect a color change when the virus is present. The test does not require… […]
Jama Software debuts medtech software
Jama Software (Portland, Ore.) announced this week that it has introduced new software for medical device development. The company described Jama Connect as a solution designed to help engineering teams better manage device requirements, risk and design control. The new software is also designed to make regulatory submissions and audit preparations a straightforward process and… […]
Could this fabric protect against a strain of coronavirus?
Noble Biomaterials announced today that third-party testing showed one of its metallized fabrics reduced the viability of a common, strong strain of coronavirus. In testing conducted by BioScience Laboratories, Noble Biomaterials’ X-Static fabric reduced the survival of human coronavirus OC43 six times faster than the unmetallized control fabric, according to the Scranton, Pa.-based company. X-Static… […]
How gas and liquid valves improve medtech performance and efficiency
While the miniature solenoid valves might be simple in their core technology, their continued evolution makes them valuable and effective components for controlling the flow, direction and pressure of gases and fluids in today’s medical devices. Paul Gant, Emerson Automation Solutions With automated functions, excellent reliability and long life, it’s no surprise that gas and liquid… […]
Astrodyne TDI and Digi-Key Electronics join forces
Power supply and EMI filter manufacturer Astrodyne TDI announced today that it has joined Digi-Key Electronics’ DK+ Marketplace, a new B2B electronics sales site open to suppliers and distributors to offer their products and services on DigiKey.com. This new venture will make Astrodyne TDI’s medical and industrial power solutions available for immediate delivery to Digi-Key’s engineering… […]
How to meet challenges with innovative machining
CNC is a technique for automating control of machine tools using software rooted in a microcomputer affixed to the tool. It is frequently used in manufacturing for machining metal and plastic parts. John Cross, Micro Data drive the accuracy and efficiency of the computerized numerical control (CNC) machines coming onto the market today. The latest… […]
Vexos to manufacture 10,000 ventilators for Canadian COVID-19 patients
Electronics manufacturer Vexos said this week that it has signed an agreement with the government of Canada to manufacture 10,000 mechanical ventilators for COVID-19 patients in that country. The LaGrange, Ohio-based company said it will build the ventilators, known as Mechanical Ventilator Milano (MVM), under an exclusive license agreement with Elemaster Group for the Americas. Vexos said… […]
Merck eyes tiny patches as a vaccine delivery method
Merck has exercised its option to use Vaxxas‘ High Density Microarray Patch (HD-MAP) platform as a delivery platform for a vaccine candidate, the companies announced today. The companies did not disclose what the vaccine candidate is supposed to treat. But Merck this month announced two COVID-19 vaccine development efforts: a collaboration with IAVI and plans… […]
Qioptiq to build new plant in Germany
Qioptiq announced today that it has begun construction on a new factory in Germany. A subsidiary of Excelitas Technologies, Qioptiq will invest about $27 million in the project. Located in the Göttingen Science Park industrial estate, the new site has an initial acreage of approximately 193,750 sq. ft. and will house state-of-the-art ISO 5 cleanrooms… […]
Pioneer Metal Finishing launches surface tech resource
Pioneer Metal Finishing (Green Bay, Wis.) recently announced the launch of Surface Engineering Academy (SEA), an expert-level resource for surface engineering and modification advancement. SEA’s focus on surface engineering and modification stems from the company’s goal to further develop and apply optimized product surfaces. Legacy technologies such as anodizing, plating, adhesives and coatings continue to… […]
Texas-based team seeks EUA for 3D printed emergency ventilator
A team of physicians and engineers developed a hands-free resuscitator bag compression device that can be utilized as an emergency ventilator during the COVID-19 pandemic. As the pandemic goes on and a shortage of vital equipment, including ventilators, continues, a number of companies and research teams from all over have worked to create alternative options. One… […]