Good morning. Here is my weekly update on deal news across Medical Technology and Biotechnology.
Headlines include news from diabetes care, neuroscience, radiotherapy and more. As always, let me know if I missed anything and have a great week ahead :).
🔔 Endogenex has raised $50 million in venture capital financing to complete the development of its minimally invasive procedure for Type 2 diabetes and bring its tech to the FDA.
🔔 Otsuka buys Transcend Therapeutics in $1.2B deal, nabbing MDMA analogue for psychiatric conditions
🔔 Novartis is back on the acquisition trail, agreeing to buy California-based Excellergy for up to $2bn. The antibody Exl-111 is intended to strengthen its allergy pipeline and go beyond the current standard of care
🔔 The European Investment Fund has launched a new fund of funds with a target volume of €15 billion to strengthen growth financing in Europe’s technology sector, including biotech and medtech.
🔔 BGF, the UK and Ireland’s most active growth capital investor, has completed a £15 million investment in Seda Pharma Development Services Ltd (Seda), an integrated CRDMO headquartered in Manchester.
🔔 Vaxess Technologies has raised $50m and announced that it will now go by the name Terrestrial Bio, in a rebrand that reflects the shifting nature of the company’s business operations.
🔔 Finnish clinical stage biotech TenBoron Oy has landed a €7.6m grant from the European Union’s Horizon Europe Health 2025 programme. The funding will propel its boron carrier platform for a novel targeted radiotherapy into larger clinical trials for cancers with few remaining treatment options.
🔔 Immutrin, a UK biotech, has raised £65m (€75m) in Series A funding for a pioneering antibody designed to remove pre-existing amyloid deposits in amyloidosis.
🔔 Spanish VC firm Ysios Capital has unveiled InceptionBio, a €100 million fund dedicated to boosting Spanish biotech innovation. The initiative targets company creation from top-tier research, backed by public-private partnerships.
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