These are a few US-based Medtech startups that raised funding recently:
1. NuProbe Raises US$ 42M in Oversubscribed Funding Round
Founded in 2016 by David Yu Zhang, Peng Yin, Victor and Chenyang Shi, NuProbe is a genomics and molecular diagnostics company that specializes in ultrasensitive sequencing panels. Its revolutionary molecular diagnostic technologies improve the sensitivity of sequencing mutations and copy number variations by over 10-fold. NuProbe has offices in Houston, USA, Shanghai, China and Suzhou, China. Its aim is to provide accurate disease state information and enable precision medicine and better patient outcomes.
Funding: NuProbe closed its oversubscribed $42M fundraising on 11 January 2021
Investors: BioTrack Capital and Yonghua Capital.
What the funding is for: The proceeds from the funding will be utilized to expand its commercial team in both the US and China. The company will also file for regulatory approval in China for its clinical products.
What the CEO has to say: “NuProbe has made great strides in 2020 in R&D, manufacturing, and commercialization. Furthermore, we have established a fast and efficient management workflow for the 100+ members of our team. We are very grateful for all of our investors’ support, and look forward to using this capital to accelerate our new product launch and market penetration,” said Yingshuang Chai, co-founder and CEO of NuProbe.
What Investors have to say: “NuProbe’s unique NGS technologies and its management’s proven commercial execution position NuProbe to be a leader in precision oncology and reproductive health in the coming years. My fund and I are very excited to be part of the journey with NuProbe,” said Kevin Chen, founding partner of Biotrack Capital.
2. InterShunt Raises Equity Financing
Founded in 2015, InterShunt Technologies is an early-stage medical device company developing a novel catheter-based solution to provide relief from left atrial pressure in heart failure patients.
Funding: The company announced on 11 January 2021 about the completion of an equity financing.
Investors: The round was led by Solas BioVentures with participation from Arsenal Capital Management and other industry executives.
What the funding is for: The funding will be utilized by the company to support the R&D of its Percutaneous Atrial Shunt Catheter System (PAS-C™ System).
What the CEO has to say: “We’re excited to have the Solas team back our vision to create a best-in-class interatrial shunt. Their investment coupled with Arsenal’s long-standing support of our program enables us to advance our design and obtain key pre-clinical and human data,” said Harlee Sorkin, CEO of InterShunt.
What Investors have to say: “InterShunt’s innovative and differentiated approach to create an interatrial shunt has the potential to provide significant clinical benefit in a space that has limited options. The ability to create a shunt without energy or hardware is attractive. Leaving nothing behind allows the body the best chance at superb outcomes. We seek out opportunities like InterShunt that use exquisite solutions based on physiology to help relieve human suffering. We are thrilled to lead this round in support of a company with such outstanding tech and industry legends,” said David Adair, MD, MBA, Managing Partner of Solas BioVentures.
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