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).
As companies increasingly use artificial intelligence (AI) in medical devices and applications to help treat and diagnose patients, innovators must be careful of excluding large sections of the population in their algorithms and in their data gathering process, delegates heard at the Medtech Futures conference in Cambridge, U.K.
Visionhealth GmbH will use the €3 million (US$3.2 million) it recently raised in a pre-series A financing to conduct a clinical trial on its digital health app designed to provide more accurate dosing of treatments for chronic obstructive pulmonary disease (COPD) and asthma.
Medtronic plc recently received the CE mark for its Aurora extravascular implantable cardioverter-defibrillator (EV-ICD) strengthening its cardiovascular portfolio which saw a 7% year-on-year growth in the third quarter of its fiscal year 2023.
A cancer therapy test unveiled by Exact Sciences Corp. will be able to provide a complete molecular picture of a patient’s tumor allowing for them to receive the most effective treatment as quickly as possible. Exact’s Oncoextra therapy selection test, recently launched in the U.S., enhances the ability of doctors to characterize and understand solid tumors.
Creo Medical Group plc is on its way to being cash flow breakeven and profitable following a successful fundraise, which will accelerate the rollout of its suite of electrosurgical products, CEO Craig Gulliford told BioWorld.
Previa Medical SA will begin clinical trials later this year of its artificial intelligence software designed for early detection of sepsis after it raised €2.1 million (US $2.2 million) in seed funds.
The U.K. government recently released its first ever medical technology strategy which aims to accelerate access to innovative medical technologies in the NHS. Although it was welcomed by the industry, and questions remain as to whether it goes far enough to address some of the challenges to the adoption of medical devices, eyes are on its implementation and whether it will achieve its aims.
Cydar Medical Ltd. raised $11.5 million (£9.3 million) in a series A funding round which will allow it to advance its artificial intelligence (AI) surgical maps platform and bolster its ongoing commercial expansion.
Dianosic SAS recently raised €4.7 million (US$5.04 million) from investors, in its second round of financing, and will use the funds to finance its preclinical in vivo testing and launch the first phase clinical trial for its Active Resorbable Intranasal Scaffold (ARIS) solution to treat chronic allergic rhinitis.
