The obesity problem is one that is affecting a growing number of people globally. With both device and drug companies looking to take on the challenge of combating the problem, Allurion Technologies Inc. has set its sights on advancing a new approach in the U.S. Now, the Natick, Mass.-based company has scored $34 million in new funding through a securities financing and a growth capital term loan. The round was led by Novalis Lifesciences and Romulus Capital, with participation from Ido Investments and ex-Covidien CEO Jose Almeida.
LONDON – Northsea Therapeutics BV has closed a $40 million series B, providing the means to complete the ongoing U.S. phase IIb trial of its lead product for treating nonalcoholic steatohepatitis (NASH) and to launch clinical trials of two more products.
Novome Biotechnologies Inc., a startup developing a hyperoxaluria therapy based on controlled colonization of the gut with engineered bacteria, has landed a $33 million series A financing and appointed former Achaogen Inc. chief Blake Wise as CEO.
An aspect of artificial intelligence (AI) that’s often misunderstood is its power, something Deep Genomics Inc.’s founder and CEO, Brendan Frey, does his best to clarify for collaborators and his employees. “One problem of AI is thinking of it as a magic black box that can solve any issue,” Frey told BioWorld soon after the company announced a $40 million series B financing. “If you take that approach, it won’t help.”
Despite a rough ride on the capital markets for much of the year, particularly in the second and third quarters, this did not prevent the biopharmaceutical sector from attracting a significant amount of capital. According to BioWorld, when the curtain closed on 2019, approximately $57.6 billion had been generated by global public and private companies.
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