This week, news broke that the U.S. has become the epicenter of the Covid-19 pandemic, the country having overtaken China as the one with the highest number of cases. In response, companies large and small are winding down operations. Still, several healthcare-related startups managed to complete funding rounds this week. Here are a few that have made announcements.
Aktiia
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Headquarters: Neuchatel, Switzerland
Amount raised: 6 million Swiss francs ($6.3 million)
A Swiss-U.S. startup, Aktiia has developed an optical blood pressure for the wrist and said Tuesday that it plans to use the money it has raised to obtain Food and Drug Administration clearance and a CE mark.
Swiss firm Redalpine led the round, along with participation by Translink Capital, Investiere, Libra, Christian Wenger, Sparks Street Capital and Barbaric Holdings.
Bright.md
Headquarters: Portland, Oregon
Amount raised: $8 million Series C
The company said Friday that it plans to use the money to expand the footprint and function of SmartExam, its artificial intelligence-based virtual care system, including expanding into new markets and hiring more employees. Even a fundraising announcement couldn’t escape Covid-19: CEO Ray Costantini said in a statement that part of the company’s motivation for expansion is to aid health systems strained due to the pandemic.
The round was co-led by B Capital and Seven Peaks Ventures.
ReCode Therapeutics
Headquaarters: Dallas
Amount raised: $80 million Series A
The company said Thursday it plans to use the money it has raised to support its preclinical development programs in primary ciliary dyskinesia and cystic fibrosis, for which it intends to file with the Food and Drug Administration to begin clinical trials next year. It also plans to work on development of its non-viral lipid nanopartical delivery system for organ-specific delivery of RNA therapies and gene-editing components.
OrbiMed Advisors and Colt Ventures co-led the round. MPM Capital, Vida Ventures, Hunt Technology Ventures and Osage University Partners participated.
Regenacy Pharmaceuticals
Headquarters: Waltham, Massachusetts
Amount raised: $30 million Series A
The company said Wednesday that it plans to use the money it has raised to start a Phase II proof-of-concept trial for ricolinostat, an HDAC6 inhibitor, in diabetic peripheral neuropathy. The drug is also being evaluated for chemotherapy-induced peripheral neuropathy and Type 2 Charcot-Marie-Tooth disease.
Cobro Ventures and Taiwania Capital Management co-led the round, with participation from 3E Bioventures, Yonjin Capital, VIVA Biotech Holdings, Ta Ya Venture Holdings and undisclosed private investors.
Photo: claudenakagawa, Getty Images
