Current Health Ltd. closed an oversubscribed series B financing, securing $43 million in a round led by Northpond Ventures. The Edinburgh, U.K.-based company will use the funds to scale up its remote care management platform. Other participants included Lrvhealth, OSF Healthcare, Section 32, Elements Health Ventures, as well as existing investors. With this latest infusion, Current Health has raised a total of $66 million to date.
DUBLIN – Isotopen Technologien München (ITM) AG raised €90 million (US$108 million) in debt financing to complete phase III development of its lead radiopharmaceutical, solucin, in gastroenteropancreatic-neuroendocrine tumors and to take forward several more preclinical pipeline projects.
DUBLIN – Anavo Therapeutics BV raised €20 million (US$24 million) in seed financing to fund the build-out of a platform that aims to drug the human phosphatome, or the ensemble of phosphatase enzymes that plays a crucial role in maintaining cells’ phosphorylation balance by removing phosphate groups from their target substrates.
Tesseract Health Inc. has closed an oversubscribed series B financing, reeling in $80 million with support from Foresite Capital, Glenview Capital and Opaleye. The proceeds will be used to advance the company’s Tesseract Ic eye-imaging diagnostic technology platform, including U.S. and overseas regulatory clearances. This is the first independent financing round for the Guilford, Conn.-based startup, which is developing a platform capable of diagnosing a range of diseases without a single blood draw. The company received prior seed funding as part of the 4Catalyzer med-tech incubator.
The development of gene therapy has come a long way over the past two decades after getting off to a rocky start following the death of a young patient after being treated with an experimental therapy. Since that time continuing scientific progress has enabled the development of a robust product pipeline of promising therapies that could lead to, according to FDA estimates, 10 to 20 cell and gene therapy products a year within the next five years. The renaissance of the sector has also attracted record amounts of investment capital and significant business development.
Versant Ventures has closed three new funds with an aggregate raise of $950 million to allocate to the next wave of innovative startups across North America and Europe. The money is new, but everything else is more or less unchanged. “It’s the same strategy, same team, same geography, same operational model,” Versant chairman and managing director Brad Bolzon told BioWorld.
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