Here is Matt Lowdon‘s weekly medical devices and biotech deals update. Here are the top headlines we found, with news coming from brain-computer interface, surgical robotics, gene therapies, AI drug discovery and more.
➡️ Busy Iambic Therapeutics has picked up more than $100 million in new funding as it looks to advance its portfolio of AI-discovered therapeutics.
➡️ Precision Neuroscience’s brain-computer interface—a wireless device that aims to restore function to people with paralysis—is getting a boost from SCI Ventures
➡️ SOVATO has closed a Series B funding round to scale its remote robotic surgery (telesurgery) platform.
➡️ Synchron has reeled in another $200 million in a series D round—cash the company said it will use to expand operations and accelerate commercialization of its nonsurgical brain-computer interface (BCI) for people with paralysis.
➡️ Evommune is heading to the New York Stock Exchange this morning via a $150 million IPO the inflammation biotech will use to fund a pair of clinical-stage candidates.
➡️ Braveheart Bio formally debuted on Wednesday with $185 million in Series A funding that’ll support development of a drug it envisions as a “best-in-class” treatment for a heart condition known as hypertrophic cardiomyopathy.
➡️ Eli Lilly is inking a $100 million-plus biobucks deal with Insilico Medicine in hopes of using artificial intelligence to discover new drugs.
➡️ AAVantgarde banks $141m Series B to advance therapies for rare eye diseases
➡️ Molecular diagnostics firm BillionToOne raised $314 million in the DNA test maker’s upsized initial public offering but saw share values slide after the first day of trading.
➡️ MeiraGTx is cashing in on a gene therapy that restored vision to 11 children who were born legally blind, licensing the program to Eli Lilly in a deal potentially worth more than $475 million.
➡️ Laborie inks $465M deal to buy post-childbirth device from Organon
➡️ Eli Lilly has penned a research pact worth $1.2 billion in biobucks with SanegeneBio to help pinpoint cardiometabolic RNAi medicines at the correct tissues.
➡️ After a chaotic and fierce bidding clash that only burst out into public view a little more than a week ago, Pfizer has prevailed in its pursuit of obesity biotech Metsera.