LATEST NEWS
December 16, 2024
Fluid Biomed Raises $27 Million in Oversubscribed Series A
Fluid Biomed Inc. raised $27M USD in an oversubscribed Series A financing, co-led by Amplitude Ventures and a strategic investor, to advance the ReSolv™ stent, the first bioabsorbable polymer-based stent for brain aneurysms. Developed by neurosurgeons Dr. John Wong and Dr. Alim Mitha, the stent aims to eliminate lifelong blood thinner use and improve outcomes for millions affected by aneurysms worldwide.
November 8, 2024
ZAP Surgical Secures $78M in Series E Funding Led by Baheal Medical
ZAP Surgical Systems, Inc. secured $78M in Series E funding led by Qingdao Baheal Medical Inc. to advance the ZAP-X® Gyroscopic Radiosurgery® platform, a cost-effective solution for treating brain tumors and intracranial disorders non-invasively. Stereotactic radiosurgery (SRS) offers outcomes comparable to open surgery without incisions or recovery time, yet high costs limit access for most of the five million eligible patients annually. ZAP-X’s innovative gyroscopic design enables precise targeting while reducing infrastructure costs. This partnership with Baheal aims to expand access to advanced radiosurgery and improve global patient care.
November 4, 2024
Inquis Medical Closes a $40M Series B, lead by Marshall Wace
Inquis Medical closed a $40 million Series B financing round led by Marshall Wace, with support from ShangBay Capital and others. The funds will advance its FDA-cleared Aventus Thrombectomy System™ and support its 2025 commercial launch. This milestone validates Inquis’s mission to improve outcomes for venous thromboembolism patients through innovative, tissue-sensing thrombectomy technology.
November 18, 2024
Zenflow Secures a $24M Series C Financing Round
Zenflow closed a $24 million Series C financing round led by Cook Medical and existing investors, including F-Prime Capital and Invus Opportunities. The funds will support FDA submission and commercialization of its Spring® System, a minimally invasive treatment for benign prostatic hyperplasia (BPH). Designed to gently open the urethra without tissue removal, the Spring System aims to improve outcomes for over 40 million BPH patients in the U.S. This investment strengthens Zenflow’s progress toward FDA approval and commercialization.
November 18, 2024
SetPoint Announces Breakthrough Data in RESET-RA Study
SetPoint Medical presented promising 24-week data from the RESET-RA study at ACR Convergence 2024, showcasing its neuroimmune modulation platform for rheumatoid arthritis (RA). The SetPoint System demonstrated significant improvements in ACR20 response, disease activity, and joint protection, with low serious adverse event rates. Over 81% of patients remained on SetPoint therapy without additional steroids or biologics. These results highlight the potential of vagus nerve stimulation to treat RA while avoiding the immunosuppressive risks of traditional therapies.
November 12, 2024
Flare Therapeutics Announces Collaboration with Roche
Flare Therapeutics has partnered with Roche to discover small molecules targeting undrugged transcription factors in oncology using Flare’s proprietary proteomic platform and electrophilic compound library. Flare will receive $70M upfront, up to $1.8B in milestones, and royalties. The collaboration combines Flare’s expertise in transcription factor drug discovery with Roche’s oncology capabilities, aiming to address unmet needs in cancer treatment. Flare retains its existing pipeline, including FX-909, currently in Phase I trials for advanced urothelial cancer.
October 9, 2024
Solenic Medical Selected as Winner of the AAHKS Industry Innovation Award
Solenic Medical Inc. received the 2024 AAHKS Industry Innovation Award for its groundbreaking technology that uses alternating magnetic fields (AMF) to generate thermal energy on the surface of medical implants, aimed at eradicating biofilms. This non-invasive, FDA-designated Breakthrough Device offers a potential alternative to costly and risky revision surgeries for implant infections, and was recognized at the American Association of Hip and Knee Surgeons annual meeting in Dallas, where Solenic Medical was one of two companies honored from 27 submissions.
October 23, 2024
Tioga Announces First Trans-Septal Human Cases
Tioga Cardiovascular, Inc., a Shifamed portfolio company, announced the first-in-human trans-septal implantations using its 28 Fr. Luna™ transcatheter mitral valve replacement (TMVR) system. Initial cases in Paraguay and Georgia achieved excellent hemodynamics post-procedure, with support from leading US structural heart experts.
October 9, 2024
CeriBell Aims for $578.3 Million Valuation in Upsized U.S. IPO
CeriBell, backed by TPG and other notable investors, is targeting a $578.3 million valuation in its upsized U.S. IPO, reflecting strong investor confidence in healthcare startups. The company has increased its share offering to 10.6 million at a price range of $16-$17 per share, potentially raising up to $180.3 million. Early investors, including TPG’s The Rise Fund, have expressed interest in purchasing up to $40 million worth of shares. CeriBell plans to use the proceeds to expand sales and further develop its AI-powered brain monitoring systems.
September 4, 2024
Venova Medical Announces $30 Million Series B
Venova Medical raised $30 million in Series B funding, co-led by Catalyst Health Ventures and a major medical device firm, with support from ShangBay Capital and others. The funds will advance U.S. clinical trials for its innovative hemodialysis access technology.
August 27, 2024
Ceribell files for a $100 million IPO
ShangBay Capital is proud to announce that Ceribell, one of our first portfolio companies, has filed for a $100 million IPO. Ceribell's pioneering AI-powered EEG platform is transforming neurological care by providing rapid diagnosis and continuous monitoring for seizure patients, addressing critical gaps in patient management and reducing healthcare costs. This milestone reflects both Ceribell's innovation and our commitment at ShangBay Capital to supporting companies that drive advancements in healthcare.
May 3, 2024
ShangBay Capital’s William Dai Recognized Among GrowthCap’s Top 25 Healthcare Investors for 2024
ShangBay Capital celebrates William Dai's recognition as one of GrowthCap's top healthcare investors for 2024. Dai, ShangBay's Founding Managing Partner, is praised for his impactful investments in medtech ventures, showcasing over two decades of finance and mergers expertise. With 67 nurtured portfolio companies and numerous successful exits, Dai's leadership highlights ShangBay's commitment to supporting innovative healthcare solutions amidst global challenges.
April 22, 2024
Ipsen and Skyhawk Therapeutics announce RNA targeting research collaboration
Ipsen and Skyhawk Therapeutics have teamed up to develop groundbreaking treatments for rare neurological diseases using Skyhawk's RNA-targeting platform. Ipsen will handle further development and commercialization, with Skyhawk potentially receiving up to $1.8 billion in milestones and royalties. This partnership underscores a significant investment in innovative therapies for patients with unmet medical needs in the field of rare neurological disorders.
February 28, 2024
Skyhawk Therapeutics Progresses SKY-0515 Study in Huntington's Disease
Skyhawk Therapeutics, Inc. announces Phase 1 MAD initiation for SKY-0515 in Huntington's disease. Derived from their SKYSTAR® platform, SKY-0515 targets mutated huntingtin protein, offering potential benefits to patients lacking curative therapies. This marks a significant milestone in Skyhawk's quest for breakthrough treatments.
February 26, 2024
Laplace Interventional Announces Successful First in Human Procedure in Early Feasibility Study
Laplace Interventional, in collaboration with the Tucson Medical Center, achieved a medical breakthrough with the first-in-human implantation of its Transcatheter Tricuspid Valve Replacement (TTVR) system, targeting Tricuspid Regurgitation (TR). This minimally invasive procedure, conducted under FDA-approved study protocols, signals a promising advancement in cardiac care.
February 14, 2024
Neuro42 Receives FDA Clearance on Portable and Compact Brain MRI Scanner for Point of Care Imaging
Neuro42, a medical technology company, has obtained FDA clearance for its portable MRI scanner, eliminating the need for patient transport and improving diagnosis and treatment for neurological conditions. With a focus on accessibility and innovation, neuro42 aims to launch its MRI system in the US market this year, revolutionizing neuroimaging and surgical guidance.
February 1, 2024
Avation Medical raises $22M+ from impressive line-up of new global investors
Avation Medical, an innovative neuromodulation and digital health company, announced more than $22 million in equity financing in its oversubscribed Series C round, led by new investors ShangBay Capital and Asahi Kasei, which included Angelini Ventures, JobsOhio Growth Capital Fund, and others.
Janurary 17, 2024
2023 SVB Health Care Report
Shangbay Capital has been ranked the most-active healthcare device investor by Silicon Valley Bank in their 2023 Healthcare Annual Report.
January 4, 2024
HSBC Venture Healthcare Report 2023
Shangbay Capital has been ranked the #2 most-active healthcare device investor by the 2023 HSBC Healthcare Annual Report.