Here is Matt Lowdon‘s weekly update for deals and financing news across Medtech and Biotech. Headlines include news from antibodies, diabetes care, CRISPR, stem cells, and more. Congratulations to all involved.
🔔 Genmab is continuing to build up its pipeline of wholly owned late-stage cancer assets, this time paying $8 billion for Netherlands-based Merus N.V. and its bispecific antibody.
🔔 Glooko is looking to expand its diabetes treatment platforms to the inpatient setting, with a plan to acquire Monarch Medical Technologies and its EndoTool software for managing insulin doses within the hospital.
🔔 Siemens Healthineers have participated in a $25m Series A extension of the CRISPR diagnostics specialist VedaBio Inc and signed a strategic agreement.
🔔 FormlyAI: $2 Million Raised For Medical Device Certification Solution. FormlyAI is pioneering the use of artificial intelligence in the certification of medical devices
🔔 Sparrow Pharmaceuticals, Inc. is looking to send its potential diabetes treatment soaring through clinical trials with the help of a $95 million series B, the company announced in a Sept. 24 release.
🔔 Wageningen-based food-tech scale-up revyve has raised €24m in a Series B financing, bringing its total capital raised to more than €40 million. The company will use the proceeds to scale up its yeast-based egg replacement to the 1,600 t/a scale.
🔔 Ensoma, an in vivo hematopoietic stem cell (HSC) engineering company with a mission to advance the future of medicine through one-time therapies announced the closing of a $53 million financing.
🔔 Sanofi is bestowing $625 million on its investment arm Sanofi Ventures, seeking to take advantage of a biotech landscape that is light on capital yet still heavy on scientific innovation
🔔 Merck & Co. has doubled down on its partnership with Variational AI, striking a deal worth up to $349 million to collaborate on small molecule candidates against two targets.
🔔 Angelini Pharma has worked out a $550 million-plus biobucks deal to get its hands on a Korean biotech preclinical neuro asset. The deal gives Angelini the option for exclusive licensing rights to SVG1051—an investigational compound from Sovargen
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