Here is Matt Lowdon‘s weekly summary of dealmaking across biotech and medtech. Some exciting headlines from surgical robotics, AI drug discovery, diagnostics, and cancer screening + more. Congratulations to everyone involved.
🔔 AbbVie is paying IGI $700 million upfront for a next-generation rival to Johnson & Johnson’s Tecvayli, positioning the Big Pharma to advance a new option for multiple myeloma patients.
🔔 Neuros Medical, Inc. raises $56M to commercialize nerve stimulation system for post-amputation pain
🔔 Carlsmed Inc., a medical technology company that uses AI to personalize spine surgery, is seeking to raise as much as $107.2 million in a US initial public offering.
🔔 Austrian medical device company PIUR IMAGING GmbH raises €5.6 million to scale tomographic 3D ultrasound globally
🔔 Revolution Medicines has zeroed in on Iambic Therapeutics’ AI drug discovery platform, striking a multi-year technology and research collaboration that gives Iambic the chance to earn up to $25 million for its services.
🔔 NUCLIDIUM AG has raised 79 million Swiss francs ($99 million) as the Swiss and German biotech looks to continue the clinical journey of its copper-based radiopharmaceutical diagnostic and therapeutic offering.
🔔 Ryan Cawood, who founded OXGENE, has raised £750,000 from the Midlands Engine Investment Fund II, through fund manager Mercia Ventures, for his latest business, Lab Thread.
🔔 Restore Medical secures $23M to Advance Breakthrough Medical Device for Heart Failure Therapy
🔔 Two veteran biotech investors have reunited to form a new venture capital firm focusing on autoimmune diseases. Steven St. Peter, M.D., and Luke Evnin, Ph.D., launched Vie Ventures to funnel money toward biotechs raising series B and C rounds.
🔔 The Blue Box Biomedical Solutions, a medtech startup developing a sector-transforming urine-based breast cancer screening test powered by AI, has secured €3 million in funding to fuel its clinical trial phase and achieve CE marking by the end of 2026.
🔔 Novartis has inked a deal with Sironax that gives the pharma the exclusive option to acquire the biotech’s blood-brain barrier crossing technology after a trial period.
🔔 Basilea Pharmaceutica secures $39M from BARDA as part of long-term antifungal funding plan
🔔 Zimmer Biomet to buy robotics firm Monogram for about $177M. Monogram Technologies’ surgical robot for total knee replacements is expected to give Zimmer Biomet’s customers more options and drive robotic knee adoption in the U.S.
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