Otolith Sound Inc. closed a $20 million series A financing round led by Morningside Ventures for its treatment for chronic vertigo. The latest funding follows a $3.3 million seed financing round and breakthrough device designation in June 2021. The funding will be used to support ongoing clinical programs and its anticipated FDA approval of its noninvasive wearable device Vestibular System Masking (nVSM) technology.
Life science startup Surge Inc. raised $2.6 million in a financing led by Hcvd and Boutique Venture Partners. The funds will be used to advance its artificial intelligence (AI)-powered technology aimed at making a patient’s surgical journey safer.
Following on a trifecta of regulatory wins, Optellum Ltd. raised $14 million in a series A funding round to commercialize its artificial intelligence (AI)-enabled lung cancer diagnostic platform. Optellum’s Virtual Nodule Clinic, which helps physicians identify and monitor patients at-risk of lung cancer, has received U.S. FDA clearance, CE-MDR in the European Union and UKCA in the U.K.
Koutech Medical Robotics (Shanghai) Co. Ltd. reported it has raised “hundreds of millions of yuan” in a series A round to support the development of its surgical robot. The round is led by Qiming Venture Partners.
While 2022 represents the lowest financing year for med-tech companies over the past four years, amounts raised through IPOs, venture capital rounds and private placements are still topping other years, while stagnant follow-on activity weighs heavily on the overall total.
MGI Tech Co. Ltd. raised ¥3.602 billion (US$518 million) on the Shanghai STAR Market. Shares (SHA: 688114) debuted at ¥87.18 apiece on the first trading day on Sept. 9. They closed at ¥124 per share on Sept. 14.
Leadinno Medical Valley Co. Ltd. reported it has raised more than ¥100 million (US$14.5 million) in a series A round for the development of its implantable electrical neurostimulation devices.
Endometriosis affects one in 10 women, but diagnosis of this fertility impairing, and often painful condition often takes a decade. A growing number of companies hope to put women with the condition on the path to treatment much sooner with new diagnostics and investors, investigators and regulators see bright opportunities in the field.
Shanghai United Imaging Healthcare Co. Ltd. went public in the Shanghai Stock Exchange STAR Market and raised ¥11 billion (US$1.6 billion) in its initial public offering.
