Hearing aids are a tough medical device category. Long-term options are viewed as not particularly effective, convenient or affordable, since payer reimbursement can be tough to get. In the U.S., Medicare does not cover hearing aids for seniors. Rates of usage for hearing aids remain far below what they could be, given these tough issues.
After posting some early clinical success with its first gene therapy project, University of Oxford spinout NightstaRx is looking to widen its pipeline of projects, recruiting venture giant New Enterprise Associates to pitch in on a $35 million funding round.
Another startup is emphatically advancing into the fray to elicit and apply genomic data as a guide for cancer diagnoses and treatment. Personal Genome Diagnostics has raised a $21.4 million Series A round to expand its commercial genomic oncology testing service.
Pennsylvania's Galera Therapeutics closed a $37 million Series B financing to advance its treatment for a common side effect of radiation therapy, bringing some big-name investors to the table.
Global venture capital firm New Enterprise Associates has hired Dr. Stephen Oesterle as one of its partners from Medtronic, where he was executive vice president.
After spending the last four years germinating an idea for a new biotech company with some top scientists, the partners at Polaris have allied with New Enterprise Associates and a trio of biotech investors to launch XTuit, jumping out of stealth mode with a $22 million A round and a new take on fighting cancer and liver disease.
Cartiva has raised $6 million from a single investor to back its musculoskeletal foot surgical products just ahead of its first PMA review. The financing could be expanded to up to $8.5 million, according to an SEC filing. The startup has previously identified New Enterprise Associates, which has a partner on its board, as its primary investor.
New Enterprise Associates has closed a pair of funds totaling $3.15 billion to invest in information technology and healthcare companies. And while med tech may not loom particularly large for NEA, the firm does have roughly a couple of dozen active medical device portfolio companies.
A wave of venture cash continues to flood into the biotech field. And New Enterprise Associates is now back at the crest of that wave. The venture group put out word this morning that it has raised $3.1 billion for two new funds, and if history is any guide, a major part of that money will be earmarked for a new blast of global biotech investments ranging from seed to clinical-stage backing.
New Enterprise Associates Partner Carol Gallagher joins FierceBiotech Radio to talk about her journey from Big Pharma to small biotech and eventually to venture capital, along the way shedding light on just what VCs do all day.