By Diagnostics World Staff
March 26, 2025 | Curevo will advance development of amezosvatein, the company’s vaccine for shingles; Garuda aims to address the growing need for off-the-shelf and cost-effective solution to stem cell transplants; and more.
$350.7M: Series D for PARP1 Trials
Eikon Therapeutics announced the initial closing of a $350.7 million Series D financing to advance its pipeline and clinical-stage programs. Eikon’s lead program EIK1001 is a systemically administered co-agonist of toll-like receptors 7 and 8 currently in a Phase III trial for advanced melanoma. Eikon is also advancing EIK1003, a highly selective PARP1 inhibitor currently undergoing Phase 1 evaluation in patients with breast, ovarian, prostate, or pancreatic cancers, and EIK1004, a central nervous system-penetrant PARP1-selective inhibitor poised to initiate Phase 1 studies targeting brain cancers.
$187M: Series A for Multi-Payload Antibody-Drug Conjugate Platform
Callio Therapeutics announced its launch with the closing of a $187 million Series A financing round. The funds will be used to advance innovative multi-payload programs designed to maximize therapeutic benefit for cancer patients by overcoming limitations of existing single-payload therapies, including achieving clinical proof-of-concept for Callio’s HER2-targeted dual-payload ADC and a second undisclosed ADC program.
$150M: Series B for Non-Opioid Pain Therapeutics
Latigo has closed $150 million in a Series B financing. Proceeds from the financing will support the advancement of the company's highly selective Nav1.8 inhibitors currently in clinical development for the non-opioid treatment of pain, as well as the development of Latigo's broader pipeline. Latigo recently reported positive Phase 1 results for LTG-001, its lead potential best-in-class non-opioid pain medicine candidate. LTG-001 is an oral, selective Nav1.8 inhibitor in development to treat acute pain at its source.
$130M: Series C for AI-Metabolomics Platform
Enveda announced an oversubscribed $130 million Series C funding round. The funds will enable Enveda to deliver clinical catalysts in 2025 and 2026 with its AI-powered platform that combines metabolomics data with machine learning and high-throughput biological experiments multiple programs with strong commercial opportunities, continue advancing their deep pipeline of 10 development candidates and multiple discovery programs, and invest in their platform. This news comes on the heels of the company’s first clinical trial and announcement of a foundation model for metabolomics trained on the world’s largest collection of experimental mass spectra.
$110M: Series B for Shingles Vaccine
Curevo has announced the closing of a $110 million Series B round to advance development of amezosvatein, the company’s vaccine for shingles. Amezosvatein is the assigned non-proprietary name for CRV-101, a non-mRNA adjuvanted subunit vaccine under investigation by Curevo. Like Shingrix, amezosvatein uses a subunit protein antigen called glycoprotein ‘E’ (gE). Targeting the gE antigen is proven to elicit a long-term, protective immune response to prevent shingles.
$73.9M: Series C for Gene Editing Therapeutics
Arbor Biotechnologies announced the closing of a $73.9 million Series C financing to support the advancement of its pipeline of novel gene editing therapeutics targeting diseases in the liver and central nervous system. The proceeds will support clinical development of the company's lead therapeutic candidate, ABO-101, in primary hyperoxaluria type 1 (PH1) and progression to IND/CTA filing of its first-in-class programs, including an RT editing program for a rare liver disease and a program targeting amyotrophic lateral sclerosis (ALS).
$50M: Series A for Off-the-Shelf Blood Stem Cell Therapies
Garuda Therapeutics has successfully completed an approximately $50 million Series A-1 funding round. This investment underscores the growing need for an immediate, off-the-shelf and cost-effective solution to stem cell transplants. Garuda’s technology enables self-renewing blood stem cells that are durable, human leukocyte antigen (HLA)-compatible, and transgene-free. Garuda’s technology can address a multitude of unique blood disorders and eliminate dependency on donor blood cells. The funds will support the advancement of Garuda's pipeline into the clinic, assembling an experienced team, scaling its in-house manufacturing, and other general operating activities.
$40M: Series E for Shoulder Arthroplasty Device
Shoulder Innovations has closed a $40 million Series E equity financing round. Proceeds will be used primarily to advance commercialization of the Company's InSet Total Shoulder and Reverse Shoulder Arthroplasty Systems and support new product development, as well as for general corporate purposes. The InSet technology has been shown in testing to significantly reduce glenoid implant micro-motion and simplifies the surgical technique, potentially reducing complications or increasing implant longevity.
$37M: Series A for Cell Therapies for Difficult-to-Treat Cancers
Inceptor Bio announced the closing of a $37 million Series A financing. Proceeds will be used to advance Inceptor Bio's CAR-T lead program to a Phase I clinical trial and continue development of its CAR-M and CAR-NK platforms. Additionally, proceeds will support the completion of Inceptor Bio's Advanced Manufacturing Platform (AMP+) facility in Gainesville, Florida. Inceptor Bio's CAR-T, CAR-M, and CAR-NK platforms are at the center of a diversified portfolio of cell therapies focused on novel mechanisms that enhance cell performance in the tumor microenvironment.
$35M: Series D for Cancer Drug Targeting the Hippo Pathway
Vivace Therapeutics announced the closing of a $35 million Series D financing. VT3989 is a novel small molecule cancer therapeutic that targets the Hippo pathway by inhibiting palmitoylation of members of the TEAD protein family. The compound has been evaluated in more than 150 patients to date in an ongoing, open-label Phase 1 clinical study and is the first and only member of the TEAD autopalmitoylation inhibitor class for which compelling clinical efficacy data have been publicly reported.
$31M: Seed Financing for Neurodegenerative Diseases Treatment
TRIMTECH Therapeutics announced the closing of its $31 million seed funding round. The funds will support further development of the company’s growing pipeline of potent, central nervous system penetrant therapeutics based on its aggregate-selective degrader molecules known as TRIMTACs. The pipeline is focused on the development of treatments for severe neurodegenerative and inflammatory disorders, including Alzheimer’s and Huntington’s disease.
$20.4M: Series A for Breast Cancer AI Predictive Platform
Ataraxis AI announced its $20.4 million Series A financing. Ataraxis AI is on track to launch Ataraxis Breast—the world’s first AI-native prognostic/predictive platform for breast cancer—for clinical use later this year for oncologists across the US. The proceeds will also support the continuing development of offerings by expanding treatment selection capabilities within and beyond breast cancer, as well as the development of next-generation AI foundation models.
$20M: Seed Financing for Therapeutic Index of CNS Drugs
Montara Therapeutics announced the closing of a $20 million oversubscribed expansion of its seed financing. The funds will be used to develop Montara’s BrainOnly platform, which is designed to improve the therapeutic index of CNS drugs and enable higher, more effective dosing of CNS-targeted therapies by blocking peripheral side effects, addressing major safety and tolerability challenges in the treatment of various neurological diseases.
$18M: Series C for AI Imaging Technology for Diagnosis
Brainomix announced the completion of an $18 million Series C investment round. Brainomix has pioneered the development of an AI platform, Brainomix 360 Stroke, that automates validated imaging biomarkers to improve both diagnosis and treatment decisions. The proceeds will enable Brainomix to accelerate its commercial expansion into the US, where the company has recently secured ten FDA clearances. Funding will also support Brainomix to advance its portfolio of AI-powered technology in new areas, facilitating faster diagnosis and increasing access to life-saving treatments.
$10.8M: Series B for Tinnitus Treatment Device
Neuromod Devices has received $10.8 million in a Series B fundraising round to broaden the reach of Lenire, its tinnitus treatment device. The funds will also be used to support Neuromod’s ongoing collaboration with the US Department of Veteran Affairs. Ever since it gained approval from the FDA in March 2023, Lenire's presence has grown, with more than 100 clinics across the US currently offering the treatment while it is being used in 14 nations in Europe. In addition, the number of UK clinics trained to use the device has doubled in the past six months.
$10.4M: Series B for Influenza Vaccine Candidates
Osivax announced the successful first close of its $10.4 million Series B financing. The funds will support the continued preclinical and clinical development of OVX836, Osivax’s broad-spectrum influenza vaccine candidate. This includes a Phase 2b field efficacy study (NCT05569239), designed to evaluate OVX836 against placebo in a large cohort of 2,850 participants across multiple international sites. The study represents a significant step in advancing the science of influenza prevention beyond conventional approaches.
$7M: Seed Financing for Personalized Diagnostic Platform
Madison Scientific has secured $7 million in a fully subscribed seed financing round. The funds will be used to grow the MadSci team, expand preclinical testing and advance prototype development of the company's innovative SmartShunt Hydrocephalus Management System. The SmartShunt System is designed to integrate diagnostic and therapeutic functions to enable personalized and informed hydrocephalus management. The system features a proprietary valve, state-of-the-art intracranial pressure sensor and advanced algorithms to optimize shunt drainage to meet each patient's needs.
$5M: Seed Financing for Rapid and Point-of-Care Cancer Testing
Avitia announced its business launch and a $5 million seed investment. With Avitia’s platform, laboratories and clinicians now have access to advanced molecular testing directly on-site no matter where they are located. This technology will allow healthcare teams to accurately obtain cancer insights and begin treating patients faster at reduced costs compared to existing send-out alternatives. With these funds, Avitia will expand into new markets and enhance its platform’s capabilities.
$3M: Seed Financing for CRISPR Mosquito Control
Synvect has raised a $3 million seed round. Mosquito-borne diseases are rising worldwide, including in regions previously unaffected. Traditional control methods, including chemical pesticides, are losing effectiveness due to resistance while also harming the environment. To combat this, Synvect uses CRISPR to produce sterile male mosquitoes, which, when released, mate with wild females—who only mate once—preventing reproduction. Unlike gene drive technologies, which spread edited genes through wild populations, Synvect’s approach ensures genetic modifications remain contained, making it one of the safest, most scalable mosquito suppression solutions.