Digital Diagnostics closes on $75M funding round
CORALVILLE, IA–Digital Diagnostics closed a $75 million Series B funding round, bringing its total amount raised to more than $130 million. The company’s AI tool for detecting early signs of diabetic retinopathy in photos of the eye captured using retinal cameras was cleared by the FDA in 2018. It was the first such algorithm to earn the agency’s blessing.
Duke University spinout acquired
DURHAM, NC–Medical device startup InnAVasc Medical, which spun out of Duke University, has been acquired by global materials science company W.L. Gore & Associates. InnAVasc is developing an arteriovenous graft technology for patients with end-stage renal disease. Gore generates an annual revenue of $4.5 billion and employs more than 12,000 in more than 25 offices throughout the world. It also invented the infamous Gore-Tex technology, which you may remember from this. Financial terms of the deal were not disclosed.
Team to study post-operative delirium
FLYOVER COUNTRY–It’s common for patients to experience grogginess and confusion when coming out of anesthesia, but post-operative delirium is different and much more serious because it can lead to Alzheimer’s disease and other related dementias. Supported by a $10 million grant from the National Institutes of Health’s National Institute on Aging, an interdisciplinary team from University of Wisconsin School of Medicine and Public Health, Regenstrief Institute, and Indiana University School of Medicine will study post-operative delirium.
Global investment firm KKR led the round, with participation from new and existing investors, including Cedar Pine, Kinderhook, 8VC, Optum Ventures, OSF Ventures, Gundersen Health System, Edward – Elmhurst Health Venture Capital, and the University of Iowa.