This Week in Healthcare Funding: Approximately $1.22 billion raised

Approximately $1.22 billion (excluding undisclosed amounts and non-equity funding like grants)

Top deals:

1. Cardurion Pharmaceuticals : $260 million (Series B)
2. CatalYm GmbH : $150 million (Series D)
3. Scorpion Therapeutics : $150 million (Series C)
4. Asceneuron SA : $100 million (Series C)
5. Thyme Care : $95 million (Series C + $40 million debt financing)

It's worth noting that Flagship Pioneering also announced an expansion of its capital base by $3.6 billion, which is not included in the total amount raised as it's not a direct company funding.

News

Edward Lifesciences (NYSE: EW), an Irvine, CA-based global leader in patient-focused innovations for structural heart disease and critical care monitoring, acquired Innovalve Bio Medical Ltd., an early-stage transcatheter mitral valve replacement (TMVR) company.

Funding

Cardurion Pharmaceuticals , a Burlington, MA-based clinical-stage biotechnology company focused on cardiovascular disease treatments, has secured $260 million in Series B financing led by Ascenta Capital, with participation from numerous new and existing investors. The company plans to use the funds to advance clinical trials for its lead drug candidates, expand its portfolio of cardiovascular indications, progress internal discovery programs, and acquire additional therapeutic assets. This substantial investment, which brings new board members from Ascenta Capital, GV, and NEA, underscores strong investor confidence in Cardurion's innovative approach to developing next-generation cardiovascular therapeutics.

CatalYm GmbH , a Munich-based company developing immune therapy solutions for solid tumors, has secured $150 million in Series D funding led by Canaan Partners and Bioqube Ventures, with participation from new and existing investors. The company plans to use the funds to accelerate the expansion of its Phase 2b development program for visugromab, focusing on randomized studies in select checkpoint na?ve frontline and second-line treatment settings. As part of this funding round, representatives from Canaan, Bioqube Ventures, and Omega Funds will join CatalYm's Board of Directors.

Scorpion Therapeutics , a Boston-based clinical-stage oncology company, has secured $150 million in Series C funding led by Frazier Life Sciences and Lightspeed Venture Partners, with participation from numerous new and existing investors. The company plans to use the funds to advance its pipeline of small molecule oncology programs, focusing on expanding the clinical development of its PI3Kα inhibitor STX-478, progressing its EGFR inhibitor franchise, including STX-721 and STX-241, and furthering its discovery pipeline of the next-generation precision oncology therapies.

Asceneuron SA , a clinical-stage biotech company based in Lausanne, Switzerland, has successfully raised $100 million in Series C funding to advance its innovative approach to treating neurodegenerative diseases. The company, which focuses on developing small molecules targeting tau protein aggregation, will use the funds to progress its lead asset ASN51 into Phase 2 clinical trials for Alzheimer's disease treatment. The financing round was led by Novo Holdings, with new investments from EQT Life Sciences – LSP Dementia Fund, OrbiMed, and SR One, alongside participation from existing investors, including M Ventures, Sofinnova Partners, GSK Equities Investments Limited, and Johnson & Johnson Innovation – JJDC, Inc. This substantial investment underscores the potential of Asceneuron's OGA inhibitor pipeline and its leadership in tauopathies, as noted by the company's CEO, Barbara Angehrn Pavik.

Thyme Care , a Nashville-based value-based cancer care enabler, has raised $95 million in Series C funding led by Concord Health Partners, with participation from existing investors. Additionally, Banc of California provided $40 million in debt financing, bringing Thyme Care's total funding to $178 million. The company plans to use these funds to expand into new markets, invest in existing partnerships with oncology, primary care, and health plans, and further develop its clinical value-based care model. This significant funding round demonstrates strong investor confidence in Thyme Care's approach to improving cancer care delivery.

CytoReason , a Tel Aviv-based company developing computational disease models for predictive insights, has raised an aggregate of $80 million. The funding was led by OurCrowd, NVIDIA, Pfizer, and Thermo Fisher Scientific, with additional structured financing from Bank Hapoalim. The company plans to use the funds to expand its disease models into new indications, enhance its proprietary data, and establish an office in Cambridge, Massachusetts. Nomura Securities and Locust Walk served as advisors for the transaction.

迈达普 , a London-based global healthcare AI company, has secured over $80 million in Series D funding from investors, including AstraZeneca, HAT SGR, Hitachi Ventures, and Leaps by Bayer. With this funding, Huma has launched its Huma Cloud Platform, an ecosystem designed to support digital health initiatives. The company plans to use the new capital to expand its operations and business reach.

Truvian , a San Diego-based company developing a blood testing platform, has secured $74 million in a new funding round. The investment was led by Wittington Ventures and Great Point Ventures, with participation from existing investors, including DNS Capital, Medical Excellence Capital, Tao Capital, TYH Capital, and 7wireVentures. Shoppers Drug Mart, Canada's largest pharmacy chain, joined as a commercial partner in this round. Truvian Health plans to use the newly raised capital to pursue FDA clearance for its blood testing platform, potentially advancing its position in the medical diagnostics market.

Aspect Biosystems , a biotechnology company pioneering the development of bioprinted tissue therapeutics, today announced that it has received a $72.75 million investment from the Governments of Canada and British Columbia.

GRO Biosciences , a Cambridge, Massachusetts-based biotechnology company specializing in synthetic biology, has secured $60.3 million in Series B funding, bringing its total funding to over $90 million. The round was led by Atlas Venture and Access Biotechnology, with participation from previous investors, including Leaps by Bayer, Redmile Group, Digitalis Ventures, and Innovation Endeavors. As part of this financing, Kevin Bitterman from Atlas Venture and Dan Becker from Access Biotechnology have joined the company's Board of Directors. GRO Biosciences plans to use these funds to advance its lead program for treating refractory gout into clinical trials, expand its pipeline, and further develop its genomically recoded organism (GRO) platform for producing therapeutics with multiple non-standard amino acids (NSAAs).

Renalys Pharma, a Tokyo-based late-stage clinical biopharmaceutical company, has secured ￥6.0 billion (approximately $40 million USD) in Series A funding. The round was led by Catalys Pacific and SR One, with participation from several other investors including JPS Growth Investment Limited Partnership and Sumitomo Mitsui Trust Bank. Led by CEO BT Slingsby, the company focuses on developing innovative therapeutics for renal diseases, specifically targeting unmet needs in Japanese and Asian patients. Renalys Pharma aims to address the issue of "drug loss" by improving access to new treatments for kidney disease patients in these regions. The funding will be used to complete a Phase III clinical trial for sparsentan, a promising treatment for IgA nephropathy, a common kidney disease in Japan and Asia. This substantial investment underscores the importance of Renalys Pharma's mission in addressing critical healthcare needs and potentially bringing new treatment options to patients with kidney diseases in the Asian market.

Rona Therapeutics , a Shanghai-based clinical-stage platform company specializing in nucleic acid drug research and development, has secured $35 million in Series A+ funding. The investment round was led by LongRiver Investments, with participation from both new and existing global investment funds. With this capital infusion, Rona Therapeutics plans to advance its metabolic siRNA pipeline programs into global development and expand its extra-hepatic delivery platform, focusing on the central nervous system (CNS) and other areas. This funding underscores the growing interest in nucleic acid therapeutics and positions Rona Therapeutics to potentially make significant strides in developing innovative treatments for metabolic and neurological disorders.

FreshPaint, a San Francisco-based healthcare privacy platform provider, has secured $30 million in Series B funding, bringing its total funding to $41.8 million. The round was led by Threshold, with participation from new investor SignalFire and existing investors Intel Capital, Y Combinator, and Zero Prime. With this new capital, Freshpaint aims to expand its offerings across the entire healthcare industry, including hospitals, health insurance providers, pharmacies, and retail healthcare companies. The company aims to enhance its ability to safeguard sensitive data and optimize the patient journey, addressing the critical need for robust privacy solutions in the healthcare sector. This funding underscores the growing importance of data protection in healthcare and positions Freshpaint to play a significant role in advancing privacy standards across the industry.

Novocuff, Inc. , a medical device company based in Mountain View, CA, has raised $26 million in Series A funding. The round was led by AXA IM Alts, with participation from Laerdal Million Lives Fund and continued support from existing investors. New investors joined the round, including Laborie, RH Capital, Avestria Ventures, and March of Dimes. Following this funding, Novocuff's Board of Directors has expanded to include Curt LaBelle and Lilly deSouza Burr from AXA IM Alts, and Becca Shmukler from Laerdal Million Lives Fund, joining Shacey Petrovic, who serves as Chair of the Board. The company plans to use this capital to initiate a multi-center U.S. pivotal clinical trial in early 2025, potentially advancing its medical device technology toward market readiness and regulatory approval.

Neuspera Medical Inc. , a San Jose-based neuromodulation company, has secured $23 million in Series D funding led by Vertex Ventures HC and Treo Ventures, with participation from several other investors. The company plans to use the funds to support its growth as it anticipates FDA premarket approval for its system. This funding round included a mix of venture capital firms and strategic investors, indicating strong interest in Neuspera's neuromodulation technology.

Antheia, Inc. , a pharmaceutical ingredient manufacturer based in Menlo Park, California, has secured $17 million in new funding. This financial boost includes a non-dilutive two-year project agreement worth up to $11 million through the BioMaP Consortium, as well as additional investments from In-Q-Tel, Inc. (IQT), Echo Investment Capital (Echo), and several existing investors, including Viking Global Investors. Antheia plans to utilize these funds to enhance the production of critical pharmaceutical ingredients in the United States and to accelerate its commercialization strategy, reinforcing its position in the pharmaceutical manufacturing sector.

Bioniq , a London-based company offering personalized supplements based on blood biomarker data, has raised $15 million in Series B funding led by HV Capital and Unbound. Now valued at $75 million, Bioniq plans to use the new capital to expand its global market share.

SamanTree Medical SA , Medical, a Lausanne-based medical technology company, has raised $14 million in Series B funding led by Relyens Innovation Santé, with participation from new and existing investors. The company plans to use the funds to develop and commercialize its Histolog? Scanner, expand in Europe and the US, and enhance its digital suite. As part of this funding round, SamanTree Medical will establish its headquarters in Wallonia, Belgium, while maintaining R&D operations in Lausanne, Switzerland.

Loci Orthopaedics , a Galway-based orthopedic medical device company, has raised €12.8 million in Series A funding led by Seroba, with participation from Johnson & Johnson Innovation, JJDC, Inc., and the European Innovation Council Fund. The company plans to use the funds to expand its initial clinical investigation, which has shown promising preliminary results, and to develop additional clinical data. This data will support regulatory approval applications and future commercialization efforts in various geographical markets.

Draupnir Bio a Copenhagen-based biotechnology company, has secured €12 million in Seed funding to advance its innovative approach of using the lysosome's natural machinery to develop oral, small molecule degraders of extracellular disease-causing proteins. The funding round saw participation from new investors MP Healthcare and EIFO and existing backers Gilde Healthcare Partners, Inkef Capital, and Novo Holdings. With this capital infusion, Draupnir Bio aims to further develop its diverse preclinical pipeline of oral, small molecule protein degraders, which have shown promise against both validated targets and those traditionally considered challenging to drug development. This funding supports the company's mission to create novel therapeutics targeting extracellular proteins involved in various diseases.

PulseMedica , an Edmonton-based life sciences startup, has secured $12 million in funding led by Saltagen Ventures, with participation from several other investors. The company, led by CEO Dr. Nir Katchinskiy, is developing an ophthalmic medical device platform that uses advanced technologies for non-invasive, automated laser treatments. PulseMedica plans to use the funds to accelerate the clinical validation of its floater imaging device, which is part of its innovative approach to eye treatments.

Integra Therapeutics , a Barcelona-based company specializing in gene writing tools, has been awarded up to €10.5 million from the European Commission through the European Innovation Council (EIC) Accelerator program. The company plans to use this funding to launch its first gene therapy, which aims to treat a serious pediatric liver disease, along with other initiatives.

Kins , a Boston-based digital-first hybrid care physical therapy practice, has raised $7 million in Series A funding, led by Healthworx and with participation from other investors. The company plans to use the funds to accelerate the development of its virtual and in-person care platform and expand its services into the Washington, D.C., Maryland, and Virginia markets.

Nanopass Technologies Ltd. , an Israel-based company specializing in intradermal delivery solutions, has raised $6 million in a recent funding round. The funding was led by Awz Ventures, which contributed $4 million to the total amount. The funding will help NanoPass expand its market reach, potentially bringing its innovative intradermal delivery solutions to a wider audience and advancing the drug and vaccine delivery field.

Lario Therapeutics , an Edinburgh-based biopharmaceutical company focusing on precision medicines for epileptic and neurological disorders, has received a $6 million grant from The Michael J. Fox Foundation for Parkinson's Research (MJFF). The company plans to use this funding to support preclinical research on its CaV2.3 calcium channel inhibitors, exploring their potential as a novel disease-modifying treatment for Parkinson's disease.

Predicta Biosciences , a Boston-based precision oncology company, has secured $5.2 million in seed funding led by The Engine Ventures, with participation from several other investors. The company plans to use the funds to expand its team and establish a CLIA lab with sequencing and bioinformatics capabilities. Notable industry figures, including former executives from Quest Diagnostics and Roche Tissue Diagnostics, will join Predicta's board following this funding round.

JaxBio Technologies, a medical diagnostics company based in Netanya, Israel, has been awarded a €2.5 million grant from the European Innovation Council (EIC) Accelerator. This grant has the potential for additional blended financing, including up to €9.1 million from the EU and a matching €9.1 million from other investors. The company plans to utilize these funds to expand its clinical programs and further develop its diagnostics platform, aiming to create a blood test for lung cancer detection and management. This innovative approach aims to simplify lung cancer diagnostics faster and more accurately, potentially revolutionizing early detection and treatment strategies. The substantial funding support underscores the importance of JaxBio's work in improving cancer diagnostics and reflects confidence in its technological approach to addressing this critical healthcare challenge.

Cell BioEngines, Inc , a New York City-based company focused on stem cell research for developing novel cell therapies, has secured an additional $2 million in funding. This round comprises $1.75 million from SOSV and the Partnership Fund and $250,000 from Empire State Development's NY Ventures through the Pre-Seed and Seed Matching Fund Program. The company plans to utilize this capital to expand its operations and bolster its research and development efforts, furthering its mission to advance cell therapy technologies.

Briefly Bio , a London-based techbio startup, has raised $1.2 million in funding led by Compound VC, with participation from NP Hard and Tiny VC. The company offers a tool designed to enhance lab work reproducibility. Briefly Bio plans to use the new capital to expand its operations and further its development efforts.

XenoPatch GmbH , a MedTech startup based in Halle, Germany, has secured a seven-figure pre-seed funding round led by bmp Ventures with IBG funds and supported by other investors. The company, led by CEO Paul Thouet, develops therapy solutions combining heat, cold, and vibration to enhance treatment efficiency. XenoPatch's patented, app-controlled, wireless device allows for flexible therapy sessions. The funding will accelerate medical device approval, expedite market entry, and advance further development plans.

Bionic Power Inc. , a Canadian company specializing in developing active lower-body smart orthotic devices, has secured an undisclosed investment from Hanger Ventures. This funding injection aims to bolster the company's product development efforts, support ongoing clinical trials, and enhance its go-to-market strategy. The investment highlights the growing interest in advanced orthotic technologies and their potential to improve users' mobility and quality of life. With this financial backing, Bionic Power is poised to accelerate its innovation in smart orthotics and potentially bring its cutting-edge solutions closer to market availability.

Funds

Flagship Pioneering , the bioplatform innovation company, announced it has expanded its capital base by $3.6 billion to support the creation and development of an estimated 25 breakthrough companies in human health, sustainability, and artificial intelligence.