Orbus Therapeutics, Inc.
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Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a monthly review of emerging In Vitro Diagnostic, Medical Device, and Pharmaceutical companies that have received venture funding. This month’s column covers deals announced July through August 2015.
Exact Sciences’ and Genomic Health announce favorable results for colon cancer tests. Boston Scientific launches trial of MRI-safe pacemaker. More research news.
X-Cell Medical's mission is to discover and develop alternative drugs for device-drug combinations, believing that the drug in such combination products is the most valuable component. The company has in-house expertise in drug discovery, formulation, and polymer coatings, as well as a deep set of cardiovascular device experience, coming from its medical advisory board, which consists of some of the most influential cardiology device users in the world.
According to a recent report by Windhover/Medtech Insight, "Emerging US Markets for Myocardial Revascularization, Repair, and Regeneration Products and Technologies," drug-eluting stents achieved sales of $1.2 billion in 2003, and sales are expected to continue to grow at a compound annual rate of 27.5% to $4.1 billion in 2008. But revascularization technologies are only one category that offer grwoth opportunities for medtech companies. Another group of players hopes to address patients trending towards heart failure, as a result of heart scar formation or the death of heart muscle cells following a heart attack. New devices and device-enabled products have the potential to intervene in both of these structural processes in ways that existing heart failure drugs, which are merely palliative, can't. Medtech estimates that two strategies-cell therapies for heart muscle regeneration and remodeling devices for the heart--will serve a market that could grow to almost $190 million by 2008.