Microcatheter maker iScience Interventional announced an investment by med-tech goliath Medtronic Inc. (NYSE:MDT) to support the commercialization of its drug delivery technologies.
The Menlo Park, Calif.-based company’s microcatheter is used during the surgical treatment of glaucoma to deliver drugs to the eye.
"The ability to deliver drugs, biologics, devices, and cell therapies directly to the site of the diseases may redefine how we manage several of the most significant sight-threatening conditions of the eye," Steve Oesterle, Medtronic’s senior VP of Medicine and Technology, said in prepared remarks.
Medtronic scored a big win last month in its patent war with NuVasive Inc after a California jury awarded it $101.2 million in damages of spinal implant technology.
Here’s a roundup of other dealflow and investment news:
- Pressure BioSciences wins a grant from Uncle Sam
Pressure BioSciences Inc was awarded at $649,000 grant to help fund the development of an automated, high-pressure system for the processing of viruses and bacteria.
- Cloud-based company closes $10 million equity investment
Cloud-based medical software company Kareo Inc announced the closing of a $10 million equity investment led by Greenspring Associates.
- Firehouse Medical lands a $28 million contract
Medical supply company Firehouse Medical was awarded a $28 million dollar contract by the U.S. Department of Defense.
- Google Ventures funds DNAnexus
DNA data management and analysis platform secured $15 million in second-round funding led by Google Ventures and TPG Biotech.
- Convergent Dental scrapes up $2 million in funding
Natick, Mass.-based Convergent Dental Inc closed on $2.17 million of a planned $4 million first funding round.
- Imaging3 lands $1 million in funding from unnamed sources
Imaging3 landed a $1 million loan from unnamed lenders through the sales of senior secure notes due this time next year.
- Antibacterial tech from Novan lands $6 million
Nanotech company Novan raised $6 million in financing to continue the development of its nitric oxide technology.
- Medical Informatics startup receives pre-seed financing
Connecticut Innovations committed $150,000 in pre-seed financing to startup medical informatics company AdhereTx Corp.
- iMedX lands $950,000 in equity funding
Shelton, Conn.-based medical transcription firm iMedX Inc raised $950,000 in an equity funding round.
- Bioptigen nabs $2.7 million grant from NIH
Bioptigen Inc. landed a $2.7 million, 27-month grant from the National Institute of Health’s Eye Institute.
- IsoRay announces $2.3 million in financing
Med-tech company IsoRay Inc. announced the execution of an underwriting agreement with West Park Capital to sell $2.3 million in common stock.