The AMR Action Fund financed two of this week’s money moves. Other moves ranged from medical devices to wearable sensor data companies. For that and more, continue reading.
The AMR Action Fund financed two of this week’s money moves. Other transactions involved companies developing everything from medical devices to wearable sensor data. For that and more, continue reading.
Incyclix Bio
North Carolina-based Incyclix Bio scooped up $30 million in a Series B round of financing. Incyclix, a company that develops cell cycle control precision treatments, is nearing clinical stages for some of its products. The financing, which was led by private San Diego-based biotech investment fund Boxer Capital, will be used to support the clinical development of INX-315. The drug, a selective CDK2 inhibitor, has shown promise in preclinical studies, and the funding will help bring it to Phase I and II studies in treating breast and ovarian cancers.
Endovascular Engineering
Endovascular Engineering, a privately held company that develops thrombectomy devices, earned $15 million in a Series 1A round of financing. The funding was led by Santé Ventures and Cordis.
“With the close of this funding, we will continue the journey from concept to clinical use. We are confident our vision of single-pass peripheral thrombectomy procedures will be realized with the introduction of E2’s thrombectomy solution,” said Luis Savastano, Endovascular Engineering founder and chief scientific officer.
Adaptive Phage Therapeutics
The Series B round of financing for Adaptive Phage Therapeutics had already drawn in $41 million, but the company wasn’t done yet. Adaptive, a clinical-stage biotech company developing treatments for infectious diseases, extended its Series B to welcome a last-minute major investor, the AMR Action Fund. The AMR Action Fund, which is the world’s largest public-private partnership investing in antibiotic and antifungal treatments, added $20 million to the fund, leaving the total at $61 million. Now flush with cash, Adaptive plans to use the money to take therapies to clinical trials for prosthetic joint infections and diabetic foot osteomyelitis.
VivoSense
After gathering $25 million, scientific solutions and wearable sensor data company VivoSense closed its Series A round of financing. Major investors included the Debiopharm Innovation fund and the Perceptive Xontogeny Venture Fund. VivoSense will use the finances to expand its informatics platform as well as refine its digital clinical outcome assessment technology.
LimFlow
Paris-based LimFlow, which develops minimally invasive technology to treat chronic limb-threatening ischemia, held an oversubscribed Series D financing worth €36 million ($40 million). After hitting major milestones such as U.S. Food and Drug Administration approval for a pivotal clinical trial and being named one of the top 50 medtech startups by MedTech Innovator, it’s no wonder investors were flocking to the company. Major supporters included Longitude Capital, Soleus Capital Management and Sofinnova Partners. LimFlow plans to use the financing to advance its pivotal trial goals.
“We look forward to sharing results from our pivotal trial later this year, and to the prospect of being able to make the LimFlow system commercially available as early as next year to the patients in the U.S. and Europe who desperately need it,” said LimFlow CEO Dan Rose.
Venatorx Pharmaceuticals
Venatorx Pharmaceuticals held a Series C Financing, but rather than raising cash, the company sold shares of its Series C Preferred Stock. The financing was led by the AMR Action Fund and included longtime Venatorx investors such as Abingworth. The company, which develops novel antibacterial portfolios to help treat multidrug-resistant bacterial infections, will use the funding to file a new drug application (NDA) with the FDA for its drug cefepime-taniborbactam, an antibacterial treatment for urinary tract infections and hospital-acquired pneumonia.
