Ostia Sciences Inc., a spinout from the University of Toronto specialising in oral and respiratory microbiome solutions, has raised over CAD$1 million in its seed round and secured full intellectual property transfer from the university.
“With full IP ownership and new funding, we’re ready to accelerate development of our SALI-10 probiotic,” said CSO Dr. Michael Glogauer. The company aims to close the round with an additional CAD$700,000 by December 2024. The funding will support the development of its SALI-10 probiotic, based on its phosphorylated lantibiotic technology, which is ready for clinical trials targeting respiratory and oral diseases in early 2025. These milestones will enable Ostia to partner with leading contract development and manufacturing organisations (CDMOs) to scale production.
“Our new phosphorylated lantibiotic technology offers targeted antimicrobial and pro-immune benefits that are unprecedented in the market,” said CEO Dr. Abdelahhad Barbour.
“This seed round will allow us to expand our discovery pipeline, and with our first prototype ready for clinical trials, we are well-positioned to drive our vision forward.”
Vienna-based software-for-medtech-develoment firm Flinn.ai has raised €10 million in investment in a funding round led by Cherry Ventures. With this investment, the firm plans to accelerate its market and product expansion and, in particular, to further develop its AI-driven modules for quality management and regulatory compliance.
In addition to Cherry Ventures, existing investors such as Speedinvest and SquareOne as well as a number of well-known business angels, including Matthias Weber (former President at Leica Biosystems) and Michael Reitermann (former CEO of Siemens Diagnostics), participated in Flinn.ai’s investment round.
“Our AI solutions offer huge potential to significantly improve the quality of existing medical devices. With the support of Cherry Ventures and our other investors, we can further accelerate our vision of making high-quality healthcare products accessible to everyone,“ said Bastian Krapinger-Rüther, co-founder and CEO of Flinn.ai.
Flinn.ai’s Software-as-a-Service (SaaS) solutions are designed to enable medtech manufacturers to make their compliance processes more efficient by integrating AI-powered automation into data processing, evaluation and reporting.
Qure.ai, the healthcare AI firm, has announced the completion of a US$65 million Series D funding round. The investment will expedite its expansion into the US market and other geographies, increase investment into foundational AI models and enable complementary med-tech company acquisitions.
The Series D round saw the participation of new strategic and financial investors led by Lightspeed and 360 ONE Asset, joined by Merck Global Health Innovation Fund and Kae Capital. Existing investors also participated in the round, including Novo Holdings, Health Quad, and TeamFund.
Qure.ai has 18 FDA-cleared indications, and its products are Class IIb certified per EU MDR regulations. It is headquartered in Mumbai, with regional offices in New York, London, and Dubai.
