Funding for potential asthma drug | Implantable device for pulmonary hypertension

Funding for potential asthma drug

PITTSBURGH, PA–Areteia Therapeutics, a clinical stage biotechnology company that’s developing the first potential oral drug for eosinophilic asthma, raised $350 million. Investors included Bain Capital Life Sciences, with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, Maverick Capital, and Population Health Partners.

$13M to develop implantable device for pulmonary hypertension

ST. PAUL, MN–Medtech company Aria CV, a spinout from the University of Minnesota, has raised a $13 million bridge round to further develop its implantable device for treating pulmonary hypertension. A first tranche of $8 million will be used to finish engineering and testing the redesigned device. After receiving FDA approval on the modifications, a second tranche of $5 million will go toward the implementation of a small 90-day trial.

Health benefits company lands $15M

MINNEAPOLIS, MN–Health benefits company Gravie raised $15 million in additional funding from existing backers, bringing its total round to $90 million. The company intends to use the funds to accelerate continued growth through investments in all areas of the company, including product and technology, sales and marketing, and expansion into new markets through new and existing distribution channels.