US-based medical device maker Ivenix closed a $42m series D round led by healthcare research and development services company WuXi PharmaTech’s corporate venturing unit, WuXi Healthcare Ventures, on Tuesday.
The round also featured venture capital partnership Cardinal Partners, asset manager Cica, investment firm Easterly Capital, VC firm SCP Vitalife Partners and Fidelity Biosciences, a division of financial services firm Fidelity Investments, all of which participated as existing investors.
Founded in 2007, Ivenix has developed a device (pictured) that facilitates drug delivery through a pump system which is controlled with a touchscreen, and which captures information about infusions for the patient’s electronic medical records.
The series D funding will support the technology’s commercialisation. Leerink Partners acted as placement agent for the round.
Ivenix originally incorporated as Fluidnet, but rebranded in April 2014. The company previously secured $45.1m in equity funding and $2.8m in debt financing, according to regulatory filings.
– Image courtesy of Ivenix