Devices & Diagnostics

Funding roundup: Using lasers to change eye color from brown to blue, and more.

Each week, many millions are invested into life sciences startups. For example, Stroma Medical – a laser therapy company that claims it can swap your eye color from brown to blue – is in the midst of clinical trials and has raised more cash. Here’s how Stroma describes the post-laser color change process: For the […]

By Meghana Keshavan on November 08, 2014

Each week, many millions are invested into life sciences startups. For example, Stroma Medical – a laser therapy company that claims it can swap your eye color from brown to blue – is in the midst of clinical trials and has raised more cash. Here’s how Stroma describes the post-laser color change process:

For the first week or so following the procedure, the irises will get darker. Thereafter, they will grow progressively lighter, revealing the underlying natural blue color. The full color change process should take two to four weeks following the procedure.

Neat. So we’re keeping track of these startup moves for you, based on regulatory filings reported to the SEC. Here are the new funding notices from Nov. 3 to 7:

Biotech

Abeona Therapeutics – Cleveland, Ohio

  • $3.6 million in equity raised of a proposed $5 million round
  • Developing treatments for orphan childhood lysosomal storage disease. Its lead candidates, ABX-A and ABX-B, treat Sanfilippo Type A and Type B disease, respectively.

Appco Pharma – Piscataway, New Jersey

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A Deep-dive Into Specialty Pharma

A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.

By PurpleLab
  • No cash yet raised of a proposed $5 million equity round
  • Generic drugmaker.

AzurRx BioPharma – New York, New York

  • $284,000 of a proposed $7 million debt financing raised
  • Developing non-systemic, recombinant protein therapies to treat gastrointestinal conditions and hospital-acquired infections.

Diabetomics – Hillsboro, Oregon

  • $2.5 million in equity raised of a proposed $15 million round
  • Dried spot blood assessments of diabetes risk, progression and complications. Provides advanced diabetes, autoimmune diabetes, preeclampsia and gestational diabetes profiles.

MDRejuvena – San Diego, California

  • $250,000 in equity raised of a proposed $5.1 million round
  • Not much info here, but likely a cosmeceutical company. Notably, it’s backed by San Diego biotech vet David Hale.

Paragon Bioservices – Baltimore, Maryland

  • $13.5 million in equity raised
  • Biologics and vaccine CRO and CMO, working in preclinical, Phase I and Phase II research.
  • More from MedCity News

Theranostics Health – Rockville, Maryland

  • $855,000 in equity raised of a proposed $1 million round
  • Develops ways to measure the activation of signaling pathways necessary in molecular targeted therapies and companion diagnostics.
  • More from MedCity News

HealthIT

Bio-Tech Medical Software – Ft. Lauderdale, Florida

  • No cash yet raised of a proposed $5 million round
  • Biometric, real-time, anonymous prescription monitoring database that can protect patient privacy while at the same time providing law enforcement real-time intelligence to help companies uphold the law.

Click Therapeutics – New York, New York

  • $1.1 million in debt of a proposed $3.1 million raised
  • Digital therapeutics for patients with neuropsychiatric dysfunction.

Medical Devices

EyeBrain Medical – South Dakota

  • $1 million in equity raised
  • Its glasses are designed to reduce chronic migraines without surgery or medication.
  • More from MedCity News

Neuro Kinetics – Pittsburgh, Pennsylvania

  • $212,241 in debt raised of a proposed $1 million round
  • Uses eye-tracking technology for noninvasive neuro-otologic diagnostic testing.

Stroma Medical – Laguna Beach, California

  • $3.4 million in equity raised of a proposed $4 million round
  • Uses lasers to change eye color

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