TAK-500

Isaac Hanson CMR Medical has now surpassed $1bn in capital funding. Photo: T. Schneider / Shutterstock.com. Cambridge, UK-based CMR Surgical has raised $165m in funding to continue the development of its Versius surgical robot . This latest investment brings their total raised to over $1bn, cementing the coveted unicorn status the company acquired in 2019 through a £195m (then $240m) round of Series C funding . CMR was founded in 2014, and through numerous record-breaking funding rounds has established itself as a major competitor of US-based Intuitive Surgery, currently the market leader in surgical robotics. It claims to offer a unique surgical experience by allowing complete freedom of port placement, mimicking the way surgeons would traditionally operate, alongside a modular system small enough to fit inside any operating theatre. Recommended Reports Reports LOA and PTSR Model - TAK-500 in Head And Neck Cancer Squamous Cell Carcinoma GlobalData Reports LOA and PTSR Model - AVA-6000 in Head And Neck Cancer Squamous Cell Carcinoma GlobalData View all Companies Intelligence C.M.R. SRL View all Brian Hicks, Senior Medical Devices Analyst at GlobalData, explains that “Even well-established and leading robotic surgical companies like Intuitive Surgical continue to see near double-digit growth in this market overall, so investors see lots of potential in continued technological and product adoption into hospitals and integrated delivery networks.” Versius recently passed the milestone of 15,000 surgeries and is used in over 20 countries across a range of specialisms. Alleged benefits of surgical robots include reduced strain for surgeons and decreased recovery times for patients by allowing for more widespread use of minimal access surgery (MAS). MAS, commonly known as keyhole surgery, is a form of surgery in which the operation is performed through a series of small incisions in the body into which equipment is inserted, reducing blood loss and post-surgery pain and recovery time. If CMR is able to continue to take market share from Intuitive Surgical, the growth potential is huge. Intuitive is currently valued at over $100bn and made more in profit last year than CMR has raised over its nine-year lifespan. Our signals coverage is powered by GlobalData’s Thematic Engine , which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed.

Phalguni Deswal @Phalguni_GD Despite restructuring news, the company’s stock rose by 6% in pre-market trading. Image Credit: ProStockStudio / Shutterstock. 2seventy bio will be reducing its workforce by 40% and firing 176 employees in an effort to cut costs. One of the main reasons cited for restructuring was the decreased 2023 sales forecasts of Abecma (idecabtagene vicleucel), the company’s only approved therapy . The chimeric antigen receptor (CAR) T-cell therapy, developed in partnership with Bristol Myers Squibb, is expected to generate $470m-$570m less in sales than previously projected, as per 2seventy bio . Recommended Reports Reports LOA and PTSR Model - 0.75 Percent Nyxol in Nyctalopia (Night Blindness) due to Vitamin A Deficiency GlobalData Reports LOA and PTSR Model - TAK-500 in Triple-Negative Breast Cancer (TNBC) GlobalData View all Companies Intelligence Bristol-Myers Squibb Co Regeneron GmbH View all Still, the company was quick to note that it remains hopeful Abecma sales may improve, considering the expected label expansion for a third indication. The therapy is currently under review with the US Food and Drug Administration (FDA) for the treatment of triple-class exposed relapsed and/or refractory multiple myeloma , with the Prescription Drug User Fee Act (PDUFA) date set for 16 December. Multiple pharma companies have announced staff layoffs this year following FDA rejections and as a general cash reduction measure due to rising inflation. 2seventy bio expects the layoffs to reduce the cash burden by at least $130m over the next two years. The company expects the one-time restructuring costs to total approximately $9m and expects its remaining cash reserves to last into 2026. Despite restructuring news, the company’s stock was up 6% in pre-market trading. In addition to the workforce cuts, 2seventy bio is also limiting funding to two of its Phase I clinical programs, namely bbT369 for treating relapsed and/or refractory B cell non-Hodgkin lymphoma and SC-DARIC-33 for treating acute myeloid leukaemia. The company also announced the expansion of its partnership agreement with JW Therapeutics to include two CAR-T cell therapies for development. This builds on the previous collaboration with JW Therapeutics and Regeneron to develop T cell-based immunotherapies . Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva . Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content. Free Whitepaper Cell and gene therapies: Pipe dream to pipeline The cell and gene industry is gaining momentum, with a new wave of therapies promising to transform the way doctors treat, and even cure, disease. In this report, Cytiva and GlobalData have collaborated to explore the rise of the cell and gene therapy industries, the current state of the market, present and future opportunities for advancement, and the challenges that lie ahead. By Cytiva Thematic By downloading this case study, you acknowledge that GlobalData may share your information with Cytiva Thematic and that your personal data will be used as described in their Privacy Policy