Good morning, here is my Monday update for investment deals across medtech and biotech. Some interesting headlines to get through, including details about a new AI R&D centre in London, a new spin-out from a Boston powerhouse, scaling up bioprocessing, and more.
🔔 Evonik is investing €80m in its fermentation plant in Slovakia, pushing the Group’s structural transformation forward with a major investment in biotechnology.
🔔 Kurma Partners has closed Biofund IV at €215m, giving European biotech founders a meaningful new source of capital
🔔 AcuityMD has raised $80m—with a company valuation now nearing $1 billion—to use its artificial intelligence (AI) platform to boost multiple aspects of how medtech companies operate.
🔔 McKesson let go of a minority share of its medical/surgical solutions division for $1.25 billion to Apollo Funds as part of the healthcare service giant’s plan to take the unit public next year.
🔔 Pulnovo Medical, a Chinese medtech focused on therapies that target pulmonary hypertension and heart failure, hauled in $100m in an oversubscribed finance round led by Medtronic.
🔔 Avalyn Pharma aims for $182M IPO to fund phase 3 trials of reformulated respiratory drugs
🔔 Tortugas Neuroscience comes out of its shell with $106m to fund 4 phase 2-stage neuro drugs licensed from Asia
🔔 Ray Therapeutics shines a light on $125m round targeting genetic eye therapy
🔔 Naturbeads secures £3.6m to set up Italy production plant. The grant is part of the European Structural Fund, an EU funding programme
🔔 10x Science, which builds frontier AI for molecular-level protein characterization across the life sciences, today announced the closing of its $4.8M seed round led by Initialized Capital
🔔 The Massachusetts venture firm Flagship Pioneering has debuted Serif Biomedicines, a startup hoping to write a new chapter for DNA medicines that are safer and more accessible than gene therapies, with an initial investment of $50m.
🔔 Boehringer is expanding its global Computational Innovation footprint with a new center dedicated to AI and machine learning in the UK with an anticipated investment of £150m.
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