Health Care Deal News: Spotlight on Venture Capital- June 2012

Sontius Medical, a California-based medical device company, recently closed on its $25.0 million Series D round of venture capital funding. Abingworth led the round. The proceeds will help to market the company’s SoundBite Hearing System, an in-the-mouth hearing aid that transmits sound through the teeth and already has FDA 501(k) clearance. Sonitus’s bone conduction system is being used to treat single-sided deafness and conductive hearing loss, but the company also wants to pursue other clearances, including the treatment of tinnitus.

RainTree Oncology Services Corp., a San Diego-based provider of drug acquisition and management services, successfully closed its $11.1 million second round of financing. Robert M. Bass is the lead investor. Proceeds will allow RainTree Oncology to grow its network of community oncologists and provide that network with a proprietary suite of products and services to improve the quality of care and practice performance.

Regentis Biomaterials, a company based in Or Akiva, Israel and Princeton, New Jersey, raised $10.0 million in Series C financing. Investors included Royal DSM, Crossroad Fund, Medica Venture Partners, SCP Vitalife and Technion Investment Opportunities Fund.  Proceeds from this round will further the clinical development of its GelrinC biodegradable cartilage regeneration implant, which is indicated for use in repairing damaged knees.  Regentis is conducting a pilot study at multiple centers in Europe and Israel.

Gamide Cell Ltd., a company developing stem cell therapies, has raised $10.0 million in its fifth round of financing. All of its investors took part in this round. The proceeds are intended to support the global commercialization of its lead cell therapy product, StemEx, as an alternative treatment for patients with blood cancers. Gamide is developing StemEx with Teva Pharmaceutical (NASDAQ: TEVA)..........Want to read more? Click here for a free trial to The Health Care M&A Information Source and download the current issue today