Caris settles IPO at $21, trading starts at $28
Despite raising the price of its IPO twice, Caris Life Sciences Inc. left money on the table with a 33% increase in price as soon as trading commenced on the Nasdaq, though no one is squawking about raising nearly $500 million. The cancer diagnostics company initially priced its IPO at $16 to $18, then raised it to $19 to $20, before closing on a price of $21 per share. As management rang the bell for the start of trade on June 18, shares began trading at $28.

Deski raises $6M for Heartfocus cardiac imaging software
Deski SAS raised $6 million in a seed round to support the launch of its cardiac imaging software, Heartfocus, in the U.S. The AI-driven heart exam tool helps health care professionals perform echocardiograms from any ultrasound probe to enable the early detection of heart disease.

Caris settles IPO at $21, trading starts at $28
Despite raising the price of its IPO twice, Caris Life Sciences Inc. left money on the table with a 33% increase in price as soon as trading commenced on the Nasdaq, though no one is squawking about raising nearly $500 million. The cancer diagnostics company initially priced its IPO at $16 to $18, then raised it to $19 to $20, before closing on a price of $21 per share. As management rang the bell for the start of trade on June 18, shares began trading at $28.
Deski raises $6M for Heartfocus cardiac imaging software
Deski SAS raised $6 million in a seed round to support the launch of its cardiac imaging software, Heartfocus, in the U.S. The AI-driven heart exam tool helps health care professionals perform echocardiograms from any ultrasound probe to enable the early detection of heart disease.
FDA scrutinizing trials sending US patient cells to China
Using informed consent to do what Congress couldn’t, the U.S. FDA is flexing its regulatory authority to halt clinical trials that involve sending cells from American patients to China or other adversarial nations for genetic engineering and subsequent infusion back into the patient.
EACR 2025: A look into next-generation strategies in cancer
At the Annual Congress of the European Association for Cancer Research (EACR) in Lisbon, multiple sessions aimed to provide fresh perspectives on the always challenging treatment of cancer, with a strong focus on innovative strategies.
Makary lays out FDA’s path, launches pilot review program
On the same day that FDA Commissioner Martin Makary spoke in a fireside chat during the 2025 Biotechnology Innovation Organization’s International Convention, the agency unveiled a pilot commissioner’s national priority voucher program that will enable companies to receive a shortened FDA review time of one to two months.
Holiday notice
BioWorld's offices will be closed in observance of Juneteenth in the U.S. No issue will be published Thursday, June 19.
Today's news in brief
BioWorld MedTech briefs for June 18, 2025.

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Digital health

Reset Moves to promote well-being in children with neurodivergence
Neurology/psychiatric
Focused on promoting well-being amongst children with neurodivergence, Reset Moves Pty Ltd. created app-based games to help children not only focus with greater clarity, but also to better help them re-engage in certain settings.
Hinge Health rings NYSE bell as IPO raises $437M
Orthopedics
Hinge Health Inc.’s flexibility produced big rewards as the digital therapy company for physical rehabilitation finally began trading on the NYSE under the symbol HNGE on May 22 after delaying its IPO twice. Hinge co-founders Daniel Perez and Gabriel Mecklenburg rang the opening bell for the stock...
Kakao Healthcare brings CGM app to Japan
Diabetes
Step aside, Marco Polo: Kakao Healthcare Corp. plans to bring PASTA to Japan. PASTA is Kakao's AI-based continuous glucose monitoring (CGM) management mobile application, which will be available in Japan through a new subsidiary as the health care company works to expand its global presence.
Urine-testing device turns toilets into health trackers
Diabetes
In what represents just the company’s third PCT filing, Houston-based Starling Medical Inc.’s co-founders, Hannah McKenney and William Hendricks, seek to gain further protection for their at-home urine diagnostic patient-monitoring platform that eliminates the traditional use of catching containers...

Financings

Aortyx secures €13.8M for aortic dissection solution
Cardiovascular
Aortyx SL secured €13.8 million (US$15.9 million) in a series A funding round for its solution which treats aortic dissection. The company developed a system to repair the aortic tear, which includes a biomimetic, bioresorbable adhesive patch inserted in the aorta using an endovascular catheter and...

Newco news

Alphadesign: AI creating proteins from scratch
Science
The Alphafold machine learning system for predicting a protein’s structure from its amino acid sequence has been adapted to make it possible to design de novo proteins that fold in a particular way and bind to prespecified target proteins. The sister system, called Alphadesign, works by generating...

Zip Diagnostics develops first rapid POC test for scabies
Infection
Zip Diagnostics Pty Ltd., Menzies School of Health Research and Axxin Pty Ltd., a Melbourne, Australia-based diagnostic instrumentation manufacturer, partnered to develop a rapid diagnostic test for scabies, a skin parasite that affects more than 200 million people each year.
Wearoptimo’s hydration sensor outperforms gold standard tests
Clinical
Health care technology company Wearoptimo Ltd. developed a next-generation microwearable sensor that accurately detects hydration levels, outperforming the needle-based gold standard.

Deals and M&A

23andme founder-led group outbids Regeneron for company
Acquisition
The 23andme Holding Co.’s saga came full circle with founder Anne Wojcicki regaining control of the bankrupt genetic testing company in a bidding battle against Regeneron Pharmaceuticals Inc.
Antylia’s $1.34B deal tops cooling med-tech M&A activity in May
Med-tech M&A activity dipped in May, reaching $1.52 billion, down from $2.07 billion in April and a far cry from the highs seen earlier this year, such as $4.92 billion in January and $5.99 billion in February.
Omada, Caris arrivals continue med-tech IPO hot streak
Cancer
Omada Health Inc. rang the opening bell on the New York Stock Exchange on June 6, marking its first day as a public company, but it won’t be the most recent IPO for very long. Continuing the brisk pace seen so far this year, Caris Life Sciences Inc. is hot on its heels with a road show in progress...
Highridge sells bone healing business to Avista
U.S.
In the midst of June’s peak wedding season, Highridge Medical LLC called it splitsville – selling its bone healing division to Avista Healthcare Partners. The latest separation continues the sundering of what Zimmer Biomet Holdings Inc. so carefully joined together a decade ago.
EU launches new strategy supporting growth of innovative startups
Analysis and data insight
The EU is having another go at improving access to capital for biotechs and science-based startups, in a bid to enable them to remain anchored in Europe. The Startup and Scaleup strategy, announced on May 28, is a response to the long-running problem that although Europe has strong foundations in...

Europe

Fineheart pursues FIH study of Flowmaker fully implanted heart pump
Clinical
Fineheart SA will soon begin a first-in-human study of Flowmaker, its fully implantable left ventricular assist device, in France, after receiving authorization from the French National Agency for the Safety of Medicines and Health Products to initiate the trial.

Asia-Pacific

MFDS clears world’s first ECG-based AI kidney disease software
Regulatory
South Korea’s Ministry of Food and Drug Safety on June 9 approved Vuno Inc’s AI-based Med-DeepECG Kidney software as a non-invasive method to screen for kidney dysfunction.

TGA files court action against Philips over CPAP foam controversy
Regulatory
Australia’s Therapeutic Goods Administration initiated court proceedings against Philips Electronics Australia Ltd. over sound abatement foam used in CPAP machines marketed under the Respironics brand.
Microneedles could solve vaccine distribution challenges
Drug design, drug delivery and technologies
Microneedle technology could help simplify vaccine delivery to better support global immunization efforts, and Australia is leading the way in this innovative technology.

Clinical

Menstrual blood-based device detects disease biomarkers
Women's health
Researchers at ETH Zürich developed Menstruai, a device that detects in menstruation blood biomarkers associated with certain diseases. Menstruai uses a sensor built into a sanitary pad and changes color if certain biomarkers are present. The...
Paradromics joins BCI in-human race
Neurology/psychiatric
Paradromics Inc. became the latest company developing a brain-computer interface (BCI) system to implant its technology, Connexus, into a human. The device was safely implanted, it recorded electrical brain signals and was removed intact in less...
Amber Vcfix spinal system shows promising data
Orthopedics
Amber Implants BV reported no device-related adverse events were seen in any of the patients fitted with its Vcfix spinal system, which treats vertebral compression fractures, at one-year. Data from the first-in-human trial of the device also...
Rising obesity levels spur endoscopic sleeve uptick
Obesity
While GLP-1 receptor agonists continue to grab the headlines as a treatment option for obesity, another therapy, endoscopic sleeve gastroplasty (ESG), is seeing a steady rise in demand.
It’s time for more trust in AI, panel says
Conferences
Despite the advancement of AI and machine learning technologies and their incorporation into cancer treatment and drug development, a lack of trust and understanding of these new approaches is impeding care and treatment.
Redemption for Lyra as second phase III rhinosinusitis trial hits goal
Inflammatory
Shares of Lyra Therapeutics Inc. soared more than 310% on data from its second phase III trial testing drug-device candidate LYR-210 in patients with chronic rhinosinusitis, with results from the Enlighten 2 study showing statistical significance...

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