Healthcare startups that have raised funding rounds this week include a firm developing a way to diagnose Alzheimer’s disease with a blood sample, a firm that combines technology with modern clinics to create a seamless virtual care to clinic experience, a technology-based drug discovery company in Japan and more.
C2N Diagnostics
Headquarters: St. Louis
Funding type: Program-related investment
Amount: $20 million
A company that is developing a blood test for Alzheimer’s disease, C2N Diagnostics said Thursday that it had raised $20 million from the GHR Foundation, an independent philanthropy. The company said the funding would position its blood test for entry into the clinic, enabling it to build out its clinical laboratory testing center in St. Louis. The funding will also allow it to accelerate an in vitro diagnostics label for its first test, APTUS-A?, with the Food and Drug Administration and get reimbursement from the Center for Medicare and Medicaid Services.
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.
Carbon Health
Headquarters: San Francisco
Funding type: Series B1
Amount: $28 million
Carbon Health, which aims to deliver what it calls a seamless experience from virtual care to in-person care by combining technology with modern clinics, said Tuesday that it had raised $28 million in a Series B1 round, led by existing investor DCVC. The round is an extension to an existing Series B round, and it brings the total amount of capital the company has raised to $75 million. Carbon said it had tripled its staffing headcount to combat the Covid-19 pandemic and extended its virtual care service to serve nearly two-thirds of the U.S. population. The company’s virtual care service is now available in 16 states, including the 10 largest states in the country, and it plans to expand that to all 50 states by this summer.
QurAlis
Headquarters: Cambridge, Massachusetts
Funding type: Series A
Amount: $42 million
QurAlis said Wednesday that it had raised $42 million in a Series A round that it plans to use to develop new therapies for amyotrophic lateral sclerosis, or ALS. The latest round brings the total amount of new funding it has raised to $50.5 million and was led by LS Polaris Innovation Fund, Mission BioCapital, INKEF Capital and the Dementia Discovery Fund. Droia Ventures co-led the round, and new investors include Mitsui Global Investment and Dolby Family Ventures, which join existing investors Amgen Ventures, MP Healthcare Venture Management and Sanford Biosciences. In addition to ALS, the company plans to use the funding to develop new therapies for frontotemporal dementia.
Stellar Health
Headquarters: New York
Funding type: Series A
Amount: $10 million
A company that works to improve delivery of value-based care, Stellar Health said Tuesday that it had raised $10 million in a Series A funding round, led by Point72 Ventures. Existing investors also participated, such as Primary Venture Partners. The company, whose network of payers and providers stretches across 11 states, plans to use the money to expand and accelerate product development and engineering and support operations, including expansion of services to new markets. It also plans to double its staff within the next year and expects to have 100,000 patient lives managed through its system by the end of 2020.
Modulus Discovery
Headquarters: Tokyo
Funding type: Series B
Amount: ¥2.71 billion ($25.5 million)
A technology-driven drug discovery company, Modulus Discovery said Wednesday that it raised 2.71 billion yen, or about $25.5 billion, in a Series B funding round from investors that include SBI Investments, Mizuho Capital, JAFCO, Keio Innovation Initiative, SMBC Venture Capital, the Dai-ichi Life Insurance Co., UTokyo Innovation Platform, Mobile Internet Capital, Medifuture, Essential Pharma and existing investor Fast Track Initiative. The company plans to use the money to further its small-molecule lead programs in cancers and inflammatory and immune system disorders while expanding its portfolio of early programs and collaborations.
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