Noema Pharma AG raised CHF103 million (US$110.3 million) in a series B round to continue moving forward its bulging pipeline of clinical stage assets in development for multiple central nervous system disorders. The Basel, Switzerland-based company is now funded through early 2025, by which time it will have at least some clinical data that will help it to determine its next steps.

Biopharmas in Asia-Pacific raising money in public or private financings: Akeso, Austrianova, Oricell, SG Austria, Summit.

Med-tech firms raising money in public or private financings, including: Paragonix, Resuture.

Biopharmas raising money in public or private financings, including: Amgen, Bicara, Bridgebio, Lenz, Opthea, Volastra.

Med-tech firms raising money in public or private financings, including: Shoulder Innovations, Siyi Intelligence. 

Biopharmas raising money in public or private financings, including: Bellerophon, Congruence, Orchard, Travere, Unicycive.

The France Biotech business association released its latest annual survey covering the health-tech sector in France. According to the 2022 edition of the Panorama, 1,440 med-tech, 880 bio-tech and 4,000 health and artificial intelligence software companies have been surveyed, responsible between them for $1.4 billion in sales revenues and 14,000 direct jobs, not counting the 2,200 new jobs planned for 2023 mainly in R&D, production and support services.

The fundraising environment for startups in med tech is expected to continue to be challenging for at least another year as public markets remain closed and private investors favor companies that have already de-risked their products. One of the major issues in the U.K. and Europe is that the IPO markets are “pretty much shut” and “our public markets aren’t working”, therefore companies are having to rely on private funding, with venture capital being one of those sources, said Robert Tansley, partner, at venture capital fund Cambridge Innovation Capital (CIC).