Medical device industry funding, M&A round-up

Medical device industry funding, M&A round-up

CytoSorbents, DexCom, TypeZero Tech, Endologix, Utrotronic, and 410 Medical participate in raising funds, acquisitions, technology, and winning research awards.

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The National Heart, Lung, and Blood Institute (NHLBI), a division of the National Institutes of Health, granted the three-year, Phase IIB Bridge Small Business Innovation Research award of up to $3 million to CytoSorbents, a critical-care immunotherapy company, based in Monmouth Junction, New Jersey, that specializes in blood purification.

 

San Diego, California-based DexCom acquired TypeZero Tech, a diabetes management solutions developer. Company officials expect to launch the first automated insulin delivery system using TypeZero's InControl algorithm in 2019.

Endologix, headquartered in Irvine, California, took out a $210.5 million convertible loan facility, with three unnamed investors participating in the warrant purchase. The first sale in the offering was noted on August 9, 2018, according to the SEC filing.

According to a document filed with the SEC, Urotronicraised $20 million in an equity offering involving 7 investors. Urotronic is developing a drug-coated balloon catheter designed to treat urethral strictures in men. This latest fundraising follows a $6 million offering that closed in July.

Durham, North Carolina-based medical device company 410 Medical Inc., focused on developing technologies for the resuscitation of critically ill patients, raised $3.1 million in new financing. The round was led by the AIM Group, with participation from the North Carolina Venture Capital Multiplier Fund, Kleinheinz Capital, and WakeMed Health & Hospitals, the health system where 410’s LifeFlow technology was developed.