The Royal Academy of Engineering in the U.K. is supporting another batch of health care innovations in developing countries, which range from surgical robots to tissue regeneration material. A number of entrepreneurs supported by the Academy’s Leaders in Innovation Fellowships (LIF) Global 2022 program were recently given the additional opportunity to secure further expert mentoring from engineers from the Academy's network and join a peer network of U.K. founders.
Helixon Ltd. raised ¥500 million (US$75 million) in a series A round for its artificial intelligence (AI) drug development platform. The Beijing-based company is building a next-generation AI computing platform by combining it with self-developed high-throughput experimental technologies, aiming to provide drug developers with an intelligent system for molecular computation, simulation and design.
Amounts raised through biopharma financings in the second quarter are down by 61% since last year and are at the lowest point since 2017. The same holds true when looking at the first half of the year. Each of the prior four years raised more than this year by the end of June, signifying that investors are backing up after an intensely robust financing environment following the emergence of the COVID-19 pandemic and the feverish biopharma therapeutic and vaccine development that began in 2020.
Areteia Therapeutics Inc. has launched to put its lead candidate, dexpramipexole, an oral treatment for eosinophilic asthma, through a phase III trial. Areteia was created by Knopp Biosciences LLC, which has put the small-molecule eosinophil maturation inhibitor through a phase II study, and also by Population Health Partners. Areteia has both the development and commercial rights to dexpramipexole.
Kranus Health GmbH has raised $6.5 million in series A funding to ramp commercialization of its digital therapy for treating erectile dysfunction (ED). Eleven European investors participated in this fundraising. The round was led by early-stage health care venture capitalists Karista SAS, while Peak Pride Management GmbH also joined the funding round.
Rainmed Medical Ltd. raised HK$146 million (US$19 million) in an initial public offering in Hong Kong. Its shares debuted at HK$5.60 and dropped as much as 15.38% to close at HK$5.28 on July 8, 2022, the first trading day. Jiangsu, China-based Rainmed Medical plans to use 80% of the proceeds to support the development and commercialization of its core products – a coronary angiography-derived fractional flow reserve (caFFR) system and a coronary angiography-derived index of microvascular resistance (caIMR) system.
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