Tricares SAS raised $47 million in a first closing of its series C financing to fund further development of Topaz, its minimally invasive treatment for tricuspid regurgitation. The completion of the series C financing round is expected later in 2022.
Galvanize Therapeutics Inc. scooped up $100 million in a series B funding round aimed at advancing its pulsed electric field (PEF) energy platform. Completion of the financing coincided with the merger of Galvanize with two other med-tech startups built around the same core intellectual property portfolio: Gala Therapeutics Inc. and Galaxy Medical Inc.
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.
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