DiogenX announced that it completed a $30 million Series A financing round to support its regenerating insulin-producing beta cells. Marseille, France-based DiogenX aims to use the funds to advance its lead drug candidate into clinical development. The company designed the disease-modifying, recombinant protein to treat patients with type 1 diabetes. It modulates the Wnt/β-catenin signalling […]
Funding Roundup
Micron Biomedical raises $17M for needle-free drug delivery tech
Micron Biomedical announced today that it added $3 million to its Series A, bringing the total funding to $17 million. Atlanta-based Micron develops dissolvable, microarray-based products to simplify the delivery of drugs and vaccines. J2 Ventures provided the additional $3 million. J2 Ventures Partner Dr. Matt Goldman joins Micron’s board as an observer following the […]
Dexcom proposes $1B offering of convertible senior notes
Dexcom (Nasdaq:DXCM) today announced that it intends to offer $1 billion in convertible senior notes due in 2028. The continuous glucose monitor (CGM) maker made its private placement to persons reasonably considered qualified institutional buyers. San Diego-based Dexcom also plans to grant the initial purchasers of the notes an option to buy more. Those options […]
The biggest medical device VC deals of 2022
Last year was definitely a slower year for medical device VC deals than the year before. Biofourmis was the only medical device developer in the 10 largest healthcare VC deals of 2022, according to a ranking provided to Medical Design & Outsourcing by Silicon Valley Bank (SVB). Because we love devices at Medical Design & Outsourcing, we asked SVB for a […]
EOFlow invests $7.7B in Pharmeo subsidiary for non-insulin drug delivery development
EOFlow announced today that it plans to invest $7.7 billion (9.9 billion Korean Won) in its wholly-owned Pharmeo subsidiary. The investment aims to advance R&D and commercialization of non-insulin drugs with EOFlow’s wearable drug delivery system. EOFlow intends to finance this investment through paid-in capital increase for the subsidiary. EOFlow owes the actual investment, totaling […]
Vero Biotech raises $30M for tankless nitric oxide delivery system
Vero Biotech announced today that it raised $30 million to support its Genosyl inhaled nitric oxide (iNO) delivery system. The financing comes just days after the company received FDA approval for Genosyl. The third-generation Genosyl delivery system features faster dosing, simpler workflow and operational efficiency. Petrichor, a healthcare-dedicated growth capital provider, led the financing. Atlanta-based […]
NIH funds Illinois Tech project using machine learning to fully automate insulin delivery
Researchers at Illinois Institute of Technology received $1.2 million from the NIH to develop a machine learning system for an artificial pancreas’ insulin delivery. Chemical engineering professor Ali Cinar leads the project to ease the burden on those with type 1 diabetes. NIH funding covers four years for developing the machine learning system. The researchers […]
Vaxxas raises $23M for needle-free drug delivery tech
Vaxxas announced today that it completed a financing round that brings in $23 million (A$34 million) in new funds. Existing investors OneVentures and UniQuest led the round. New investors, including members of the Vaxxas board and management team, along with individual investors, participated. The company earmarked proceeds to advance its clinical programs, including its needle-free […]
PharmaJet wins NIH grant to evaluate needle-free delivery of HPV immunization
PharmaJet announced today that it received a grant worth $800,000-plus from the NIH to evaluate its needle-free injection system. Golden, Colorado-based PharmaJet picked up a Phase II grant from the NIH (National Institutes of Health). It allows the company to evaluate the immunogenicity of the intradermal administration of human papillomavirus virus (HPV) vaccine. The study […]
Bionaut Labs closes $43M Series B for robotic drug delivery tech
Robotic drug delivery technology developer Bionaut Labs announced today that it closed a Series B financing round worth $43.2 million. Los Angeles-based Bionaut Labs uses microscale robots to deliver drugs for treating central nervous system (CNS) diseases and disorders. Through magnetic propulsion, the company’s Bionauts can navigate the human body and deliver drugs locally. The […]
