Good morning. It was an interesting week of dealmaking in medical technology and biotech. Here are the key headlines that I found. Congratulations to everyone involved and let me know if I have missed anything.
➡️ After publishing early clinical results of its ultrasound-activated brain tumor therapy this year, Alpheus Medical has raised $52 million in venture capital funding to support a new randomized trial.
➡️ BioMarin has followed through on its shift to external innovation, inking a deal to buy Inozyme for $270 million to add a phase 3 enzyme replacement therapy to its pipeline.
➡️ Swedish MedTech startup MedVasc raises €917k to improve anaesthetic procedure when treating varicose veins
➡️ Therini Bio Raises Additional $39M Series A Financing to Advance Clinical Development of Neurodegenerative Disease Pipeline
➡️ Eli Lilly is further expanding its RNA medicine strategy by tapping South Korea’s Rznomics for a $1.3 billion biobucks deal focused on treating hearing loss.
➡️ Pathos AI has secured $365 million in a series D raise as the artificial-intelligence-powered biotech looks to fund trials of solid tumor drugs sourced from Novo Nordisk and Prelude Therapeutics.
➡️ Axis Spine, a medical device business specialising in modular spinal implant systems, has completed a £6.6m funding round with Mercia Asset Management as lead investor. This includes a direct investment of £2m, with additional funding coming from Mercia’s Northern VCTs and EIS managed funds
➡️ ClearPoint Neuro announced today that it entered into a note financing agreement with Oberland Capital Management of up to $110 million.
➡️ Novo Nordisk is making yet another bet on obesity, offering Septerna more than $200 million in upfront and near-term payments for rights to preclinical oral small molecules that hit targets including GLP-1.
➡️ Kincell Bio announced the completion of a $22 million round. Kincell Bio is a scientifically focused, cell therapy development and manufacturing company. This funding marks a significant milestone in Kincell Bio’s mission to transform the delivery of advanced cell therapies.
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