PERTH, Australia – Atmo Biosciences Ltd. has closed an oversubscribed AU$9.6 million (US$7 million) capital raise that will allow it to further develop its gas-sensing capsule for monitoring the health of the gut and the microbiome. Until now, there has not been a diagnostic test that can measure gases in the gut in vivo.
Multiple sizes of Neptune Medical LLC’s overtube for gastrointestinal (GI) procedures that allows thin-walled tubes to toggle between flexible and rigid states received FDA clearance. With the clearance, the Burlingame, Calif.-based company now has nine sizes of cleared single-use overtubes with more in the wings. The Pathfinder endoscope overtube device uses Neptune’s Dynamic Rigidization technology to keep tubes from looping during procedures, a problem that leads to procedure failure, patient pain and complications in colonoscopy and other GI procedures.
Eclipse Regenesis Inc. received a National Institutes of Health fast track grant of $1.7 million to advance development of the Eclipse Xl1 system for short bowel syndrome. The spring-like Eclipse device harnesses mechanotransduction to stimulate growth of new, functional intestinal tissue. Short bowel syndrome is a devastating and rare condition that leads sufferers with too little small intestine to extract sufficient nutrients to sustain life. The grant for Menlo Park, Calif.-based Eclipse came through NIH’s small business innovation program.
The digital therapeutics market has seen an explosion of innovative products and interested investors. Regulators, too, have acknowledged their potential to improve outcomes in patients with chronic or debilitating conditions – often at lower cost and with less side effects than traditional drug therapies. To that end, the FDA has granted breakthrough device designation to Swing Therapeutics Inc. for its prescription digital therapeutic for the management of fibromyalgia.
Iterative Scopes Inc. picked up $30 million in series A financing to advance artificial intelligence (AI)-powered precision medicine for gastroenterology. The money will be used to further develop the company’s algorithms and to propel its growing life sciences businesses. Spun out of the Massachusetts Institute of Technology by founder and CEO Jonathan Ng, the company is developing AI-driven computational tools to identify appropriate treatments and guide clinical trials for patients suffering from gastrointestinal diseases.
All the primary endpoints were met in Hepion Pharmaceuticals Inc.’s phase IIa trial of CRV-431 for treating nonalcoholic steatohepatitis (NASH). The market, however, wasn’t celebrating as the Edison, N.J.-based company’s stock (NASDAQ:HEPA) sagged 15.27% on July 13 to close at $1.72 per share.
Sequana Medical NV reported positive results from the second interim analysis of its POSEIDON pivotal study evaluating the Alfapump for the treatment of recurrent or refractory ascites due to liver cirrhosis. These latest results, from 26 patients in the roll-in cohort, affirm earlier interim data showing high scores on all primary endpoints and continued improvement in quality of life.
A check up by Khosla Ventures determined that Docbot Inc. was healthy enough for the prominent biotech investor to take the lead in a $4 million series A round. The new funds bring the artificial intelligence company to a total of $8.5 million in capital raised to date. Other participants included Bold Capital Partners, Collaborative Fund and Boutique Venture Partners.
Motus GI Holdings Inc. received FDA 510(k) clearance to use its Pure-Vu system in upper gastrointestinal endoscopies, expanding the system’s indications from use only in colonoscopies. Pure-Vu removes blood, blood clots and debris from the GI tract, allowing endoscopists to see sources of bleeding and other issues while leaving the endoscope's working channel available for other uses.
TORONTO – An initial investment of $250,000 by MCI Onehealth Technologies Inc. could just be the beginning for Ariel Precision Medicine Inc. and an artificial intelligence-fueled platform that uses genetic and clinical data to identify early symptoms of chronic disease.
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