Luminopia Inc. reeled in $16 million in an oversubscribed series A financing led by U.S. Venture Partners. The funds will support full commercial launch of the company’s U.S. FDA-cleared digital therapeutic for the treatment of children ages 4-7 with amblyopia. “We are thrilled to announce the successful close of our oversubscribed series A round, which will allow us to advance our mission of pioneering a new class of treatments for the 15 million Americans who suffer from neuro-visual disorders,” said Scott Xiao, Luminopia’s co-founder and CEO.
The near $50 million cash injection Nvision Imaging Technologies GmbH recently received is “instrumental” as it will allow the company to take its hyperpolarized magnetic resonance imaging (MRI) technology to labs worldwide, CEO Sella Brosh told BioWorld. The German startup’s quantum technology makes MRI imaging up to 100,000 times more precise which will allow for the earlier diagnosis of cancer, better assessment of the risks involved and the ability to assess in a matter of days, whether treatment is working.
Surgical care startup Medivis Inc. tallied $20 million in a series A financing led by Thrive Capital. The funds will be used to advance its 3D holographic clinical visualization system. Initialized Capital and Mayo Clinic also participated in the round, along with investors Bob Iger, Kevin Durant, Robert Spetzler, Hugo Barra and Coalition Operators. With the funding from the series A, Medivis has raised a total of roughly $25 million to date.
Seeking to repurpose a validated oncology drug target for atherosclerosis is Bitterroot Bio Inc., a biotech company that introduced itself to the world on the back of a sizable $145 million series A, funds it intends to use to advance its lead monoclonal antibody, BRB-002, toward the clinic.
Gene therapy developer Kate Therapeutics Inc. (KateTx), which is developing next-generation adeno-associated virus (AAV) vectors that target skeletal and cardiac muscle, has unveiled $51 million series A round and a licensing deal with Astellas Pharma Inc.
AAVantgarde Bio SrL raised €61 million (US$65 million) in series A funding to take forward two novel approaches to gene therapy that aim to overcome the packaging limits of adeno-associated virus (AAV) vectors. The company plans to move its lead program, in retinitis pigmentosa associated with Usher syndrome type 1b, into the clinic later this year. A second program, in Stargardt disease, is a couple of years behind it.
Launching with a $300 million series A financing, Renagade Therapeutics Inc. has set out to target disease on a large scale – at every point throughout the human body where disease forms – through its RNA platform designed to deliver, code, edit and insert genetic information. The round, led by founding investors MPM Bioimpact and F2 Ventures, is the largest venture capital (VC) round for a U.S.-based biopharma company this year, and it is among the top series A rounds for the industry to date.
Four years after its founding, Myeloid Therapeutics Inc. raised $73 million to advance mRNA immunotherapy technology that targets and activates myeloid cells. Proceeds from the financing will go toward MT-101, the company’s first autologous CAR monocyte, which is in a phase I/II trial for T-cell lymphoma. It also will accelerate development of MT-302, a potentially first-in-class TROP2-FcA mRNA lipid nanoparticle candidate, which is ready for a phase I/II study for TROP2-expressing solid tumors.
Ray Therapeutics Inc.’s upsized and oversubscribed $100 million series A financing will support the firm’s ongoing efforts with optogenetics, an approach that deploys adeno-associated virus (AAV) gene therapy to deliver a light-sensitive, highly bioengineered protein found in nature to retinal cells.
Regulatory T-cell specialist Dualyx NV has closed a €40 million (US$43.5 million) series A to progress the lead autoimmune disease program to the clinic and to take forward two other Treg-based therapies. The company brings together expertise in antibody design with understanding of the role Tregs play in supressing the immune response to maintain homeostasis and self-tolerance, preventing autoimmunity.
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