New investors think Brainsgate Ltd. has some valuable new ideas, including its novel treatment for ischemic stroke, so they headed up the latest investment round. BNP Joint Capital led the $14 million round as a first-time investor along with Spero and previous investors Elron, Medtronic, Agate, Pitango, and Cipio.
Following a record-shattering year, terms were set for the first two biotech IPOs of 2021 in deals that could generate up to $300 million. Cullinan Oncology LLC, of Cambridge, Mass., set terms Jan. 4 for raising about $150 million by pricing 8.3 million shares in the $17 to $19 range.
A new $23 million in funds gives Brainbox Solutions Inc. a head start as it begins enrollment in the pivotal clinical trial of its mild traumatic brain injury (TBI) diagnostic and prognostic test. Bioventures Investors took the lead in the series A financing. The Tauber Foundation, the Virginia Tech Carilion Innovation and Seed Funds, Genoa VC, Pharmakon Holdings LLC, and Astia Angels participated in the fundraising round along with qualified investors including the Cleveland Cavaliers' Kevin Love, a mental health advocate.
Emboline Inc., which is developing technology to reduce the chance of stroke during transcatheter heart procedures, completed a $10 million series C financing. The funds are earmarked to gain initial commercial approval of the company’s Emboliner device and to launch a U.S. pivotal study. The round, which included new and existing investors, follows a $5 million bridge round of financing that closed last January.
Med-tech firms raising money in public or private financings, including: Adapthealth, Canary Medical, Color, Pulse Biosciences, Viewray, Volta Medical.
Immuneering Corp., a bioinformatics specialist that has for years helped big companies like Teva Pharmaceutical Ltd. and Bristol Myers Squibb Co. better understand their own medicines, has landed $62 million in an oversubscribed series B financing that will help it leverage lessons learned in that journey to build out its own pipeline, starting with IMM-1-104, a dual inhibitor of MEK and a related target.
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