While the overall volume of deals in the MedTech space is entering a summer slump, amazing funding rounds continue to support innovative technology. A neurology and a cardiology companies closed the biggest funding round, but there was also lots of activity in European companies. See all the details below.
Neuros Medical closed an oversubscribed Series D financing round worth $56m
The proceeds from the round will support US commercialisation and further the development of the FDA-cleared Altius direct electrical nerve stimulation system.
New investor EQT Life Sciences led the funding round. Existing investors, including US Venture Partners, Amzak Health, Osage University Partners, Sectoral Asset Management, Aperture Venture Partners and several long-standing and committed investors also participated.
President and CEO David Veino
Restore Medical secures $23m for breakthrough heart failure therapy device
The Series B financing round was co-led by Pitango HealthTech and a global strategic healthcare partner, alongside the European Innovation Council (EIC) Fund, and continued support from existing investors including Peregrine Ventures, which has supported the company since its inception, and another strategic partner.
The funding will support the completion of Restore Medical’s ongoing European feasibility study, which has demonstrated promising long-term safety and efficacy data.
CEO Gilad Marom
Piur Imaging closes $6.5m funding round
Piur develops an FDA-approved and CE Marked vendor-agnostic tomographic 3D ultrasound software.
The growth capital funding round, led by Frankfurt, Germany-based Aescuvest Capital Partners, will support the company’s US expansion.
CEO & Managing Director Frederik Bender
Plexāā closes $4.5m extension for US launch Breast Surgery platform
The strategic capital infusion will support the imminent US launch of the BLOOM43 device, strengthening the company’s position ahead of their planned Series A fundraising round.
Plexāā’s Seed round was backed by TCP Health Ventures (the dedicated healthcare investment arm of The Capital Partnership group of companies). This extension round comprises existing and new investors including TCP. Further investment includes over $1.6 million in i4i grant funding from the National Institute for Health and Care Research (NIHR), and $1.3 million from London-based VC firm THENA Capital.
Founder and CEO Dr. Saahil Mehta
Amotio secures £810k to advance orthopaedic revision surgery
Its first major pre-seed funding round was led by a £500,000 ($682,000) investment from the Development Bank of Wales, with additional backing from European investment firm NLC Health Ventures and Orthopaedic Research UK.
Through early-stage investment and non-dilutive funding, Amotio has raised around £1.6m ($2.1m), which will support its ongoing R&D and help it progress to pre-clinical testing and regulatory approval for the technology.
CEO Iestyn Foster
BrachyDOSE gets €554K to prevent radiation injuries in cancer treatment
The funding round was led by Coinvest Capital (with a €300,000 investment), including support from BSV Ventures and angel investor networks LitBAN and EstBAN.
The investment will help BrachyDOSE complete the CE marking and Medical Device Regulation (MDR) certification needed to launch its radiation measurement technology in the market.
