Healthcare Pulse: This week's fundings were approximately $1.26 billion
This Week in Digital Health
Unlocking the future of healthcare. An insider's guide to game-changing digital innovations.
Top 5 Funding Rounds:
Other Notable Deals:
Key Trends:
Kestra Medical Technologies, Inc. , a wearable medical device and digital healthcare company based in Kirkland, Washington, has secured $196 million in funding. The investment round was led by Andera Partners, Ally Bridge Group, Longitude Capital, and Omega Funds, with participation from several new investors, including T. Rowe Price Investment Management, Inc., Eventide Asset Management, Gilmartin Capital, Bain Capital, and Endeavour Vision. As part of this financing, Kevin Reilly from Ally Bridge Group, Maxwell Bikoff from Longitude Capital, and Francesco Draetta from Omega Funds will join Kestra's Board of Directors. The company plans to use this substantial funding to expand its commercial organization and further its mission of protecting at-risk patients with its modern Wearable Cardioverter Defibrillator (WCD). This significant investment underscores the growing importance of wearable medical devices in healthcare and indicates strong investor confidence in Kestra's innovative approach to cardiac care.
Third Arc Bio, a Boston-based biotech company specializing in developing multifunctional antibodies, has raised $165 million in Series A funding. Vida Ventures, Cormorant Asset Management, and Hillhouse Investment jointly led this round. Omega Funds, an existing investor, continued its support, while a diverse group of new investors also participated. These include Goldman Sachs Alternatives, BVF Partners LP, funds and accounts advised by T. Rowe Price Associates, Inc., Janus Henderson Investors, funds managed by abrdn Inc., Marshall Wace, Foresite Capital, Logos Capital, Freepoint Capital Group, and AbbVie Ventures. Third Arc Bio intends to utilize this significant capital infusion to advance its clinical studies, focusing on addressing unmet needs in oncology and autoimmunity. This funding represents a major step forward for the company's mission to develop innovative therapeutic approaches using multifunctional antibodies.
Imperative Care , a medical technology company based in Campbell, California, has announced the initial close of its Series E funding round, which could reach up to $150 million . The investment was led by Ally Bridge Group, with significant participation from existing investors, including D1 Capital Partners, AMED Ventures, Bain Capital Life Sciences, Rock Springs Capital Management LP, Innovatus Capital Partners, LLC, and Pura Vida Investments. New investors such as Catalio Capital Management, LP, HealthCor Family Office, Montreux Growth Partners, and INTAI Technology Corp joined the round. Imperative Care plans to utilize this substantial funding to expand its operations and advance its development efforts, potentially accelerating its growth and innovation in the medical technology sector.
Magenta Medical Ltd. , an Israeli company based in Kadima specializing in developing miniaturized blood pumps, has secured $105 million in a new funding round. The investment was led by Novo Holdings, with participation from new investors Viking Global Investors and RA Capital Management. Existing investors contributed to the round, including OrbiMed, New Enterprise Associates (NEA), JVC Investment Partners, and ALIVE – Israel HealthTech Fund. Magenta Medical plans to use this substantial capital to advance its U.S. clinical programs in various mechanical circulatory support (MCS) indications. A key objective for the company is to obtain the first FDA approval for its Elevate? System, specifically for use in patients undergoing high-risk percutaneous coronary interventions (HR-PCI). This funding marks a significant step forward in Magenta Medical's mission to innovate in circulatory support technology and expand its presence in the U.S. healthcare market.
Headway, a New York City-based company focused on building a comprehensive mental healthcare system, has secured $100 million in Series D funding. The investment round was led by Spark Capital, with significant participation from existing investors Thrive Capital, Accel, and Andreessen Horowitz (a16z). Additionally, Forerunner Ventures joined as a new investor in this round. Headway plans to utilize this substantial capital injection to accelerate the development of its platform, which aims to streamline private practice operations for mental health providers. By simplifying administrative tasks, the company aims to allow healthcare professionals to dedicate more of their time and energy to delivering high-quality clinical care to patients, potentially improving the overall landscape of mental health services.
Autobahn Therapeutics, Inc. , a San Diego-based biotech company focused on developing treatments for neuropsychiatric and neuroimmunologic disorders, has secured $100 million in Series C funding. The investment round was led by Newpath Partners, with participation from new investors Canaan Partners, Monograph Capital, and Insight Partners, alongside existing investors. Autobahn plans to use this significant funding to initiate two Phase 2 clinical trials for its lead program, ABX-002. This compound is a potent and selective thyroid hormone beta receptor (TRβ) agonist that has shown promising results in Phase 1 studies, demonstrating good tolerability and central nervous system (CNS) target engagement. This substantial investment underscores the potential of Autobahn's approach to developing restorative treatments for neurological disorders.
Brenig Therapeutics, a neurology-focused drug development company based in Dover, Delaware, has secured $65 million in Series A funding. The company, which utilizes an AI/ML-based discovery platform, saw its funding round led by NEA, with additional investments from OrbiMed, Torrey Pines Investments, and BioGeneration Ventures. As part of this financial arrangement, Ed Mathers, a Partner at NEA, will join Brenig Therapeutics' Board of Directors. The company plans to use this substantial capital injection to advance its lead compound, BT-267, through healthy volunteer studies and proof-of-concept studies targeting patients with idiopathic Parkinson's disease. This funding represents a significant step forward for Brenig Therapeutics in its mission to develop novel treatments for neurological disorders using advanced AI and machine learning technologies.
Confo Therapeutics , a Belgian biotech focused on GPCR drug discovery, raised €60 million in Series B funding. The round was led by Ackermans & van Haaren, with participation from new and existing investors. The company plans to use the funds to advance four drug programs, including one targeting obesity, into clinical trials.
Pearl, a Los Angeles-based company specializing in dental AI, has successfully raised $58 million in funding. The investment round was led by Left Lane Capital, with additional participation from Smash Capital and Alpha Partners. Existing investors Craft Ventures and Neotribe Ventures also contributed to this round. Pearl plans to utilize this substantial funding to drive technological innovation to improve global dental patient health. Specifically, the company intends to expand its line of dental AI products and broaden its regulatory and patent portfolio. This significant investment highlights the growing importance of AI applications in dentistry and healthcare, positioning Pearl to make significant advancements in dental care technology.
TRiCares GmbH , a company based in Paris and Munich specializing in minimally invasive tricuspid regurgitation treatments, has secured $50 million in Series D funding. A single strategic investor led this round. The company plans to use this new funding to support upcoming clinical milestones in the United States and European Union for its Topaz system, a transfemoral tricuspid heart valve replacement technology.
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Scopio Labs , an Israeli medical imaging company, has raised $42 million in new funding, bringing its total funding to $130 million. The company plans to use the funds to expand its sales and marketing efforts, strengthen customer support, and continue developing its digital cell morphology platform for hematology labs and hospitals.
Clarapath , a medical robotics company based in White Plains, New York, has raised $36 million in Series B-1 funding. The company focuses on modernizing tissue processing in pathology laboratories. This funding round was led by Northwell Ventures, with additional investments from CU Healthcare Innovation Fund, Mayo Clinic, and Ochsner Ventures. Clarapath plans to use the new capital to accelerate the commercialization of its SectionStar? product, expand its sales and service operations, enhance its precision manufacturing capabilities, and continue developing its R&D pipeline. This investment is likely to strengthen Clarapath's position in the medical robotics sector, potentially improving efficiency and accuracy in pathology labs.
Loyal , an Atlanta-based healthcare technology company specializing in digital patient engagement, has raised $33.5 million in a Series B funding round. The investment was led by Concord Health Partners and included participation from multiple strategic investors. With this new capital, Loyal plans to expand its resources in several key areas: growing its customer base, advancing product development, enhancing customer success initiatives, and accelerating overall growth. This funding will enable Loyal to further its mission of improving digital patient engagement in the healthcare sector, potentially leading to better patient experiences and more efficient healthcare delivery systems.
TMRW Life Sciences , a New York City-based company, has secured $28 million in Series D funding. The company is notable for developing the only FDA-cleared automated platform for managing and storing frozen human reproductive cells (sperm, eggs, and embryos). The funding round was led by 5AM Ventures, with participation from several other investors, including FIOS Venture Holdings, DF Investment Partners, Transformation Capital, Life Sciences Innovation Fund, and Casdin Capital. Interestingly, actress and advocate Amy Schumer also provided support. TMRW Life Sciences plans to use this new capital to expand its operations and enhance its research and development efforts, likely aiming to advance its innovative technology in reproductive medicine and cryopreservation.
Vitable Health , a Philadelphia-based company offering healthcare plans tailored for hourly and uninsured workers, has secured $16 million in Series A funding. The investment round was led by Cherryrock Capital, with additional support from Newark Venture Partners, Citi Impact Fund, First Round Capital, Commerce Ventures, and Y Combinator. With this new influx of capital, Vitable Health aims to significantly expand its geographical reach, planning to extend its services to more than 40 states across the United States. Additionally, the company intends to use the funds to improve and expand its primary care offerings and enhance its care navigation capabilities, ultimately striving to provide more comprehensive and accessible healthcare solutions for its target demographic.
Oisin Biotechnologies , a Seattle-based biotech company focused on combating age-related diseases, has announced the initial close of a $15 million Series A funding round. AbbVie Ventures led the investment, with Danjuma Quarless, Ph.D., Associate Director at AbbVie Ventures, joining Oisín's Board of Directors. Additionally, Darin Messina, Ph.D., Senior Vice President of Aesthetics R&D at AbbVie, will join Oisín's Scientific Advisory Board. The company plans to use this funding to progress its pipeline of therapies for age-related diseases toward clinical development, potentially advancing the field of anti-aging medicine.
deepc , a Munich-based company developing AI operating systems for radiologists and enterprise clinical organizations, has expanded its Series A funding with a $13 million extension. This brings the total Series A funding to $30 million. The extension round was led by Sofinnova Partners and Bertelsmann Investments, with new investors KHP Ventures and SwissHealth Ventures joining, along with existing investor Winning Mindset Ventures. The company plans to use this new capital to accelerate growth, expand internationally, and further develop and commercialize its advanced operating system for the radiology industry.
SoundHealth Sys , a San Francisco-based medical technology company, has secured $7 million in seed funding led by Moai Capital and J4 Ventures, with TeleSoft Partners, Tau Ventures, TechU Ventures, and Rhythm Venture Capital participation. The company plans to use this investment to enhance the commercialization and marketing of its product, SONU, and to seek regulatory authorization for additional indications, specifically for pediatric use and insomnia treatment. This funding is poised to accelerate SoundHealth's growth and expand its impact in the medical technology sector, particularly in addressing sleep-related health issues.
Osheru - Ziplyft , a medical device company based in Bend, Oregon, has raised $4.7 million in seed funding. The investment round was led by individual investors and family offices, with notable participation from Nike Co-Founder Phil Knight. Other investors included the Oregon ToughTech BreakThrough Fund, managed by ONAMI for Business Oregon, and SOPHINCAP, the Corporate Venture Fund of Laboratorios Sophia. Osheru plans to use this funding to accelerate the development and commercialization of its device, designed for blepharoplasty surgery, a procedure to repair droopy eyelids. This investment suggests a growing interest in specialized medical devices and highlights Osheru's potential to innovate in the field of ophthalmic surgery.
Endless Health , a startup based in Austin, Texas, has secured $4.5 million in Seed funding for its comprehensive at-home testing and preventive medicine services. Next Coast Ventures, an early investor in the company, spearheaded the funding round, with additional participation from Asset Management Ventures. Antler Elevate, an existing investor, also increased its stake. Endless Health plans to utilize this capital infusion to broaden its operational capabilities and extend its market reach, furthering its mission to provide end-to-end health testing and preventive care solutions directly to consumers' homes.
RevealDx, a Seattle-based startup that develops software to improve how healthcare professionals diagnose lung cancer, raised $4.25 million in a new investment round. The company’s product uses machine learning techniques to assess the probability that lung nodules found on chest CT scans are cancerous.
4D Medicine, a Nottingham-based company specializing in biomaterials for 3D printed implants and surgical devices, has secured $3.4 million in Series A funding. The investment round was spearheaded by Oshen Holdings, with additional support from DSW Ventures, SFC Capital, Boundary Capital, and various private investors, including scientists and surgeons. With this new capital, 4D Medicine aims to finalize pre-clinical testing of its initial product line and pursue FDA clearance, paving the way for its entry into the United States market.
RxDiet , a New York City-based company focusing on food as medicine, has secured $3 million in seed funding. The investment round was led by Giant Ventures, with additional participation from Better Ventures, Form Life, and angel investors, including Immad Akhund of Mercury Bank. RxDiet plans to utilize this funding to achieve three main objectives: expand its team, enhance its grocery network, and broaden its services to reach a wider range of healthcare payers. This investment highlights growing interest in the intersection of nutrition and healthcare, potentially enabling RxDiet to play a larger role in promoting health through dietary interventions.
GEOH , a company based in Indianapolis, Indiana, that specializes in comprehensive software solutions for the home care industry, has successfully secured $3 million in Seed Plus funding. The funding round was spearheaded by Boomerang Ventures, which contributed $2 million and saw participation from several other investors, including VisionTech Partners, First Leaf Capital, Digital Venture Partners, and individual investors. Led by CEO Tom Bumgardner, GEOH plans to utilize this capital to pursue strategic mergers and acquisitions and expand its workforce in crucial areas such as sales and marketing, development, and services.
PK MED , a biotechnology company based in Lyon, France, has secured €1.5 million in non-dilutive DeepTech financing from Bpifrance. The company plans to use this funding to accelerate its PKM-02 project, which focuses on developing innovative cell-homing technology. This technology aims to improve bone marrow transplantation procedures for diseases with significant unmet medical needs, particularly leukemias and hemoglobinopathies. The non-dilutive nature of the financing allows PK MED to advance its research and development without diluting existing shareholders' equity, potentially accelerating progress in addressing challenging hematological disorders.
Aware Recovery Care, Inc. , a company based in Wallingford, Connecticut, that specializes in providing in-home treatment for mental health and substance use disorders, has secured an undisclosed amount of funding. Connecticut Innovations led the investment round. With this new capital, Aware Recovery Care aims to drive further innovation in their treatment approaches and expand their services. Additionally, the company plans to use the funds to foster collaborations with various stakeholders, including state government entities, accountable care organizations (ACOs), physician groups, and self-insured employers. This funding and planned collaborations could potentially enhance the accessibility and effectiveness of in-home mental health and substance use disorder treatments.