China’s Tencent Technology Co. Ltd. has invested S30 million in Insighta Ltd., an early cancer detection company that was set up as a $200 million joint venture by Prenetics Global Ltd. and inventor Dennis Lo to revolutionize multi-cancer detection.
Nyxoah SA recently raised $27 million after selling three million shares in a bid to shore up its capital base as it prepares to commercialize Genio — its obstructive sleep apnea technology — in the U.S.
Sunbird Bio Inc. closed an additional financing round of $14 million Oct. 16, reeling in new funding from Eli Lilly & Co. and the Singapore Economic Development Board’s investment arm, EDBI Pte Ltd.
Backed by AI technology, Aigen Sciences Inc. raised ₩12 billion (US$8.8 million) in a series A financing round to further advance its cancer and rare disease drug pipelines.
Biopharma companies secured $16.31 billion in financing during the third quarter (Q3) of 2024, marking a 29% decrease from the $23.07 billion raised in Q2 and a 65% drop from Q1’s $47.25 billion. Despite the quarterly decline, year-to-date financings through September reached $86.63 billion, surpassing the total annual figures of both 2023 ($70.97 billion) and 2022 ($60.81 billion). Only the record-setting years of 2020 and 2021 saw higher amounts raised.
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