Healthcare Pulse - This Week's Healthcare Fundings $1.08 Billion
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Total Raised: Approximately $1.08 billion (excluding undisclosed amounts)
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News
Silicon Valley Bank, a San Francisco, CA-based division of First Citizens Bank, released the 14th edition of its Mid-year healthcare investment and exit report.
Funding
Halda Therapeutics , a biotechnology company based in New Haven, CT, has successfully raised $126 million in a Series B extension funding round, bringing its total funding to $202 million. The company is developing a novel class of cancer therapies called RIPTAC™ (Regulated Induced Proximity TArgeting Chimeras) therapeutics. With participation from both new and existing investors, including Deep Track Capital, Frazier Life Sciences, and Canaan Partners, Halda plans to use the funds to advance two RIPTAC candidates into clinical trials. These trials will focus on patients with prostate cancer and breast cancer, initially targeting the metastatic setting where drug resistance to standard treatments is common.
IDRx , a Plymouth, MA-based clinical-stage biopharmaceutical company, raised $120M in Series B funding led by RA Capital Management, Commodore Capital, and Blackstone Multi-Asset Investing. New investors like Rock Springs Capital and existing ones, including Andreessen Horowitz and Merck KGaA, participated. Led by CEO Tim Clackson, IDRx focuses on transforming cancer care through precision therapies, with its lead program, IDRX-42, targeting key genetic drivers and mutations in KIT-mutant GIST. The funds will support the ongoing Phase 1/1b study of IDRX-42 and the initiation of a pivotal study for second-line GIST patients.
Shinobi Therapeutics , a biotechnology company based in San Francisco, CA, developing immune evasive iPS cell therapies, received a $59 million grant from the Japanese Agency for Medical Research and Development (AMED). This non-dilutive funding will support the development of their lead program, an iPS-T cell therapy targeting GPC3+ solid tumor cancers. Additionally, Shinobi extended its Series A round, raising its total funding to $119 million with new investments from Yosemite and Mitsubishi UFJ Capital.
Red Queen Therapeutics , a clinical-stage biotechnology company based in Cambridge, MA, raised $55 million in Series A funding from Apple Tree Partners. The funds will be used to expand operations and development efforts. Co-founded by Apple Tree Partners and biomedical researcher Loren Walensky, M.D., Ph.D., and led by CEO Mark Mitchnick, M.D., and Chief Scientific Officer Paul Da Silva Jardine, Ph.D., the company uses its proprietary stapled lipopeptide technology to develop treatments for a range of viruses, including coronaviruses and influenzas. This technology enables the rapid design and development of new antiviral therapies, offering a novel mode of early intervention through fusion inhibition.
FreshPaint , a San Francisco startup founded five years ago, has secured $30 million in a Series B funding round. The company offers a data management platform that enables healthcare organizations to collect, safeguard, and utilize customer data while maintaining HIPAA compliance. Threshold led the funding round, with additional investments from SignalFire, Intel Capital, Zero Prime, and Y Com.
Spineology Inc. , a medical device company based in St. Paul, MN, raised $25 million in equity funding. The round was led by SV Health Investors, with participation from 1315 Capital and existing investor RC Capital. The company plans to use the funds to expand its operations and R&D sector.
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CroiValve , a medical device company based in Dublin, Ireland, raised $16 million in equity funding to develop a novel transcatheter device for treating tricuspid regurgitation. The funding round was led by MedTech & Irrus Syndicates. It included participation from current investors Ascentifi, Furthr, Broadview Ventures, Atlantic Bridge University Fund, Enterprise Ireland, Elkstone, SOSV, and a new investor, IAG Capital Partners. The funds will be used to advance the TANDEM II Early Feasibility Study, an FDA-approved multicenter study to evaluate the safety and performance of the DUO™ System in patients with severe symptomatic tricuspid regurgitation.
NeuroTherapia, Inc. , a clinical-stage company developing therapies for neurodegenerative diseases in Cleveland, OH, raised $12.3 million in Series B funding. Cleveland Clinic led the round, which included previous investors Brain Trust Accelerator Fund II, Dolby Family Ventures, and the Alzheimer’s Drug Discovery Foundation (ADDF), along with new investors Foundation for a Better World and CRUINT.
Seven Starling , a Washington, DC-based virtual provider of women’s behavioral health services, secured $10.9M in Series A funding. The round was led by RH Capital, with contributions from Pear VC, Expa, Magnify Ventures, and several new investors, including Zeal Capital Partners and the March of Dimes. The funds will expand the company's reach and bolster partnerships with over 1,000 OBGYNs and major health plans.
Eden , a Mexico City-based company focused on democratizing health through technology, has raised $10M in funding. Sierra Ventures led the round, which included participation from Kaszek, Alt Capital, Y-Combinator, and Khosla Ventures. The funds will expand the company's operations and development efforts.
Artax Biopharma Inc , a clinical-stage biotechnology company based in Cambridge, MA, focused on treating autoimmune diseases, raised $8 million in convertible debt funding. The backers included Eli Lilly and Company, Advent Life Sciences, Columbus Ventures, Sound Bioventures, and Belinda Termeer. The company plans to use the funds to expand its operations and R&D sector.
NanoHive Medical , a Boston-based company specializing in 3D-printed titanium spinal interbody fusion devices, has raised $7 million in Series C funding. The backers remain undisclosed. The funds will be used to expand their U.S. commercial operations, enhance their Hive™ portfolio of Soft Titanium® spinal devices with new product lines and launches, conduct R&D on "smart" sensor implant delivery, enter select international markets, and grow strategic partnerships.
clare&me , a Berlin-based AI mental health tech startup, has raised $4 million in funding. The round was led by YZR, with additional participation from Kodori Ventures, Material Ventures, individual angel investors, and Antler. The company plans to use this new capital to enhance its Large Language Model (LLM) and further develop its second product, which focuses on automating clinical anamnesis interviews.
Release Therapeutics , a BioMedTech company based in Geneva, Switzerland, raised CHF 3.3 million in Seed funding from undisclosed private investors. The funds will be used to expand the company's operations and research and development sector.
Nob Hill Therapeutics , an early-stage pulmonary medical device and therapeutics company based in Albuquerque, NM, has raised $3 million in Series A funding. The round was led by Tramway Venture Partners, with contributions from TCA Venture Group and VIC Technology Venture Development, which also founded the company. As part of the financing, Chris Japp of Tramway Venture Partners will join Nob Hill's Board of Directors, and Sima Ghafari from TCA Venture Group will become a Board Observer. The funds will be used to advance the development of Nob Hill's high-dose respiratory technology and therapeutics, including pre-IND studies.
Prana Thoracic , a Houston-based MedTech startup focused on lung cancer intervention, raised $3 million in a Series A extension round, bringing its total funding to $9 million. The round was led by cultivate (MD), GenHenn Capital, and Houston Angel Network, with participation from prior lead investor New World Angels and existing investors like Johnson & Johnson Development Corp, Texas Medical Center Venture Fund, and the Cancer Prevention & Research Institute of Texas. Prana Thoracic plans to use the new funds to accelerate product development and advance through clinical and regulatory plans.
Nammi Therapeutics, Inc. , an immuno-oncology company based in Los Angeles, CA, has secured a $1 million investment commitment from the Myeloma Investment Fund (MIF) for a larger $30 million Series B financing round. Under the leadership of President and CEO David Stover, Ph.D., the company focuses on developing platforms and products that activate anti-tumor immunity specifically within the tumor microenvironment, aiming to reduce systemic immune activation to improve safety and facilitate the combination of multiple immune modulators. Nammi's innovative technologies include the MIC platform and the Nammisome technology for delivering Immune Modulating Prodrugs (IMPs) via nanoparticles.
BioGliph, a biotech software startup based in Berkeley, CA, received a minority investment from Dotmatics. The funds will be used to expand operations and development efforts. Led by CEO Fernando Garces, BioGliph is developing technology to illustrate, register visually, and model biologic molecules, including multispecific antibodies (MsAbs). The company focuses on innovative therapeutic applications, leveraging advanced technologies to design and produce highly specific antibodies to address complex biological challenges.
Ionetix , a Lansing, Michigan-based innovator in cyclotron technology and isotope manufacturing for diagnostic and therapeutic applications, received an undisclosed amount of financing from Eli Lilly and Company and existing shareholders led by Tees River Limited. The funds will be used to develop its core technologies further and expand its cyclotron network to support strategic growth in late-stage clinical and commercial settings.
Novalix , a Strasbourg, France-based preclinical contract research organization (CRO) specializing in drug discovery services, received an undisclosed investment from Bruker (Nasdaq: BRKR). The company plans to use the funds to accelerate its growth and expand its presence, particularly in Europe and the United States.
Funds
Symbiotic Capital , a Los Angeles, CA-based life science credit firm, officially launched with more than $600M in capital committed. Symbiotic Capital will structure and originate credit solutions to established life science companies to support scientific innovation across biotechnology, medical devices, diagnostics, tools, synthetic biology, and other healthcare subsectors. As life science companies fund ongoing research and development, capital expenditures, and commercialization activities, credit financings can minimize the equity demands otherwise necessary for such operations and expansion.
Terumo Medical Corporation (TSE: 4543), a Tokyo, Japan-based global leader in medical technology, established Terumo Ventures, its Corporate Venture Capital (CVC) arm responsible for leading the Group's venture investments, as a department within Terumo Americas Holding, Inc. Terumo Ventures, which operates in global innovation hubs around the world, such as Massachusetts and California in the United States, will invest $75M over the next five years in early-stage companies primarily in the fields of cardiovascular disease treatment, chronic disease treatment, and digital technologies.