News & More
Latest news, analysis, and opinions related to digital health ecosystem in Europe.
Daniel Ek’s Neko Health gets €60M for its fancy body scan tech
July 5, 2023
The Swedish start-up, co-founded by Spotify's founder, provides solutions for preventative healthcare using its non-invasive medical scanning technology concept. Neko Health claims its offering has been in huge demand in Sweden, where it sold out all the slots in less than two hours and has a waiting list of over 10,000 people. It will use the money to hire world-class talent, conduct clinical studies, and expand to other European markets.
Camena Bioscience raises $10M Series A for its DNA synthesis platform
July 3, 2023
Led by Mercia, the funding will be used to scale operations and continue the development of Camena's pioneering DNA synthesis platform - gSynth. This unique and highly accurate enzyme-based DNA synthesis technology has helped the company sign commercial agreements with leading consumers of synthetic genes, securing a multi-million-pound revenue stream over the previous year.
Gleamer raises €27M Series B to expand its AI solutions portfolio and speed up international expansion
June 28, 2023
This new investment will enable Gleamer to extend its portfolio of solutions to CT scans and mammography and cover 70% of radiologists' daily needs. The company aims to accelerate its international expansion, particularly in Europe and the United States, where the sales teams will be strengthened. Gleamer will extend existing strategic partnerships while signing new large-scale partnerships to make Gleamer's solutions accessible to as many people as possible.
Carthera raises €37.5M in Series B funding round
June 27, 2023
Carthera will use the proceeds to launch the first pivotal multicenter trial with its SonoCloud, an innovative ultrasound-based medical device to treat a wide range of brain disorders. These funds will also enable it to continue developing its clinical pipeline and technology. Currently, the company is in the process of submitting its registration trial in recurrent glioblastoma (GBM) to the US FDA and EU competent authorities.
NLC complets the initial close of the NLC Health Impact Fund
June 26, 2023
Europe's healthcare systems are under mounting pressure as a result of the personnel shortage and growing healthcare demand. Innovation could provide a solution, but too few innovations make it to the market due to the lack of early-stage capital investments and expertise. The NLC Health Impact Fund addresses these gaps by providing early-stage capital to the most promising healthcare innovations. Specifically, it will deploy capital towards the first 40 ventures of varied maturity levels, providing initial and follow-on funding.
Tagworks Pharmaceuticals raises $65M Series A to advance Click-to-Release therapeutics
June 22, 2023
The company's lead program, TGW101, is a click-cleavable ADC targeting tumor-associated glycoprotein 72 (TAG72), a clinically validated non-internalizing target widely expressed in solid tumors. TGW101 is designed to enable targeted and controlled drug release and activation in the tumor microenvironment, thus facilitating the killing of tumors with heterogenous target expression, which are difficult to treat with current therapies. The proceeds of the financing will support Tagworks in bringing this program towards initial clinical proof-of-concept, and in advancing the company's broader pipeline, currently focused on oncology.
Early Deliveroo and Supercell backer launches a new fund
June 20, 2023
London-based VC firm Boost Capital Partners announced that it has successfully completed its first close of $30M. The firm invests in pre-seed and seed companies with initial ticket sizes of up to $750,000 and follow-on capabilities. It targets a broad range of sectors of the real economy where the user experience can be significantly improved, health being one of them. Boost Capital Partners has already backed 7 companies in geographies across Europe and Latin America.
Google for Startups now accepting applications for its Growth Academy: AI for Health
June 18, 2023
The three-month program provides healthcare and well-being startups with essential growth skills, internationalization strategies, and Google tools and products to help them scale. It is a hybrid program that supports high-potential startups in Europe, Middle East, and Africa using AI technology to grow and innovate responsibly in the healthcare and well-being industry. The application deadline is July 10.
Finland’s Solu raises €1M, partners with Stanford
June 15, 2023
The company will use the funds to fuel the development and commercialization of its product as it plans to builds an extensive pathogen DNA library. Solu also has plans to build an extensive pathogen DNA library in order to prevent antibiotic resistance via "better research and faster identification." The pathogen DNA library will collect all pathogen data in real-time and also model their evolution and identify new health-threatening pathogens more effectively.
Berlin-based Nelly gets €15M to digitise medical admin and payments
The fintech for the patient facing medical sector will use the funds to accelerate its growth in Germany, develop additional products, deepen its fintech capabilities, as well as to expand into new medical verticals and markets. According to Nelly, using its solution could potentially reduce payment fees by 30% to 50% as its digital solution is significantly minimizing expenses related to invoice creation, postage fees, and the current elevated costs associated with factoring.