EY’s new ‘Pulse of the MedTech Industry’ report highlights the sector is generating strong results and building confidence for the quarters ahead. This week’s highlights include Elutia completing its $88M bioenvelope sale, while QT Imaging and DermaSensor advanced their diagnostic platforms with fresh funding. With capital also flowing to wearables and robotics, the MedTech market continues to show strength. Details follow below.
Elutia closes $88M bioenvelope sale to Boston Scientific
With the closing of the deal, Elutia says it can leverage its proven drug-eluting biologics platform with a more concentrated focus on advancing its NXT-41x offering.
NXT-41x is a next-gen antibiotic biomatrix for breast reconstruction. It directly addresses the root causes of reconstruction infections following mastectomy.
CEO Randy Mills
Last week’s tracker: Leo Cancer Care, Axon Therapies & more
QT Imaging announces $18M private placement financing
The fully subscribed private placement financing included anchoring from Sio Capital Management and participation from other institutional and existing company investors.
The Company intends to enhance the balance sheet by repaying $5.0 million of its restated and amended senior secured term loan with Lynrock Lake Master Fund LP, and use the balance of the net proceeds from the offering for expanding its U.S.A. and global go-to-market activities, and for deploying QTI Cloud Platform.
CEO Raluca Dinu
DermaSensor raises $16M Series B to support skin cancer detection device
This funding brings its total investment to $43 million. Most major existing investors participated in the funding round. New institutional investors, including Pier 70 Ventures, Kern Venture Group, GenHenn Capital and an undisclosed strategic investor, also joined.
With the funding, the company plans to support new pipeline programs and clinical evidence generation for its existing algorithm.
Co-founder and CEO Cody Simmons
RDS raises €14m to bolster market penetration of patient monitoring wearable
The company’s Series A funding round was led by Sociétés de Projets Industriels (SPI), an investment fund managed on behalf of the French state by Bpifrance. New investor Critical Path Ventures and existing investors, including MACSF and Capital Grand Est, also participated.
RDS plans to use the fresh funding towards scaling up its production and refurbishing capacities, with plans to create “several hundred” new jobs by 2035 to support these and related commercial activities on the continent.
CEO Elie Lobe
AiM Medical Robotics raises $8.1m for MRI-compatible surgical robotics
IQ Capital and 1540 Ventures led the Series A funding round, which also had participation from new and returning strategic investors.
AiM plans to use its latest funds to support its first-in-human clinical study, expand strategic partnerships and accelerate product development and regulatory milestones. To date, the company has raised more than $11.3 million in investment, adding to significant federal grant support.
Co-founder and CEO Gregory Fischer
