With financings falling just shy of last year, the med-tech industry has raised a total of $41.3 billion so far in 2021 through 494 financings. That is down roughly 3% from the 513 financings worth $42.46 billion by this point in 2020. Most of the money last year came through follow-on offerings and private placements, with IPOs and venture capital rounds making up only 26% of the total.

Channel Medsystems Inc. completed a fundraising round to enable the nationwide commercial launch of its Cerene cryotherapy device for treatment of heavy menstrual bleeding thanks to a $26 million investment by Innovahealth Partners LP. The investment is among the largest New York-based Innovahealth has made in any company so far and makes it Channel’s largest shareholder.

LONDON – Oxford Biodynamics plc won a $910,000 grant to help validate real-world use of its epigenetics test for identifying patients who will respond to treatment with checkpoint inhibitor drugs. The award was made as part of the Beau Biden Cancer Moonshot.

Berry Oncology Corp. raised $99.15 million in a series B1 financing round to expand in the early cancer screening industry as it is seeing a growing demand in the sector. This brings the total capital raised to what it says is “the highest level in China’s early cancer screening industry.” The round was led by China Merchants Capital Management Co. Ltd., along with existing investors Qiming Venture Partners and Legend Capital.

Hillevax Inc., a company developing a vaccine to prevent moderate to severe acute gastroenteritis caused by norovirus infection, has raised $135 million in crossover financing to support further clinical development of the candidate, HIL-214.