USA – Beta Bionics, a Concord, MA-based clinical stage medical technology company, raised $57M in Series C funding.
The round was led by Soleus Capital, Perceptive Advisors, Farallon Capital Management, L.L.C., RTW Investments, LP, and Eventide Asset Management with participation from Pura Vida Investments, ArrowMark Partners, LifeSci Venture Partners, and Novo Nordisk. This financing adds to the Series B and B-2 financings in 2018 and 2019 that raised approximately $126 million.The company intends to use the funds for product development, regulatory submissions, and preparations for the commercialization of the insulin dosing iLet® Bionic Pancreas System following FDA clearance.Led by CEO Dr. Ed Damiano, Beta Bionics is a clinical stage medical technology company focused on the design, development, and commercialization of its iLet® Bionic Pancreas System. The iLet Bionic Pancreas is designed to use adaptive, self-learning, control algorithms, together with continuous glucose monitoring and pump technology, to autonomously compute and administer doses of insulin and/or glucagon and mimic the body’s natural ability to maintain tight glycemic control.
20/02/2022
