Med-tech financings exceeded $1 billion for the third consecutive month, reaching a total of $1.07 billion in transactions in December. In November, med-techs raised $1.02 billion, with $1.23 billion raised in October. The overall average for financings in 2023 stands at $1.47 billion per month, down from a monthly average of $3.19 billion the previous year.
Kynexis BV recently launched with a series A of €57 million (US$62 million) and a lead asset, Kyn-5356, that targets the kynurenine pathway. The company is preparing for clinical trials that will test the compound for the treatment of cognitive impairment associated with schizophrenia.
Remix Therapeutics Inc. has closed a $60 million financing to advance its lead program, REM-422, into the clinic and for further advancement of a pipeline of RNA processing targeted therapeutics.
Med-tech firms raising money in public or private financings, including: Bluejay Diagnostics, Cardiomech, Meihua International Medical Technologies, Radionetics.