Beta Bionics, Inc.

Shoulder Innovations also provides AI-powered surgical planning software, with the FDA-cleared ProVoyance, which translates CT images into 3D bone models. \n The orthopedic implant maker Shoulder Innovations is the latest medtech to plan for a nine-figure IPO, as it looks to scale up its commercial reach. The Grand Rapids, Michigan-based company aims to raise about $100 million by offering 5 million shares on the New York Stock Exchange priced between $19 and $21 apiece. It plans to list under the ticker SI. Shoulder Innovations, founded in 2009, has received FDA green lights for its InSet implant systems for total shoulder joint replacements as well as reverse shoulder procedures, in cases where the rotator cuff is damaged. It also offers artificial intelligence-powered surgical planning software, the FDA-cleared ProVoyance, which translates CT images into 3D bone models. The company says its InSet platform can provide a more secure connection to the bone and reduce the mechanical stresses on the implant as the arm moves, while describing implant loosening as the leading cause of failure in shoulder arthroplasty, where about 250,000 procedures are performed annually in the U.S.In the future, it also plans to develop a revision solution and a fracture-specific system, as well as a line of implants for patients with a sensitivity to metals. In its filed prospectus, Shoulder Innovations reported preliminary financial results of about $21 million in revenue for the first six months of this year, up from $15.4 million for the same period in 2024. The company said it expects its net loss for that time to weigh in at about $24 million, up from last year’s $7.8 million—with the increase primarily due to rising operating losses as it expands its headcount, as well as second-quarter costs tied to changes in the fair value of its preferred stock warrant liability and a series E purchase option exercised in June. For the first quarter of 2025, the company recorded a net loss of $4.6 million, after revenue of $10.1 million.Earlier this week, Shoulder Innovations said it had closed a $40 million convertible notes financing backed by Fidelity Management; in March, the company announced its $40 million series E round, which was led by U.S. Venture Partners and joined by Gilde Healthcare Partners, Gilmartin Capital, Aperture Venture Partners, Arboretum Ventures and Sectoral Asset Management. Earlier this month, the AI coronary artery disease diagnostic developer Heartflow filed for a $100 million Nasdaq IPO after previously plotting a SPAC deal valued at $2.4 billion in 2021, which it abandoned the year after. Before that, the spine surgery devicemaker Carlsmed also aimed to raise more than $100 million.This year has also seen large public offerings from Kestra Medical Technologies, Beta Bionics and Caris Life Sciences, with its $494 million splash.

BOSTON--(BUSINESS WIRE)--Omega Funds, a leading international healthcare venture capital firm focused on delivering impactful medicines to patients, today announced the closing of its eighth fund with $647 million in capital commitments. The new fund, Omega Fund VIII, L.P. ("Fund VIII"), was oversubscribed, exceeding its target of $600 million, garnering strong support from both new and existing limited partners. With Fund VIII, the firm will continue to execute its strategy of creating and investing in innovative life sciences companies in the U.S. and Europe that target severe, unmet medical needs. Since its inception in 2004, Omega Funds has raised $2.5 billion to invest in exceptional entrepreneurs developing innovative products across multiple therapeutic areas, including oncology, immunology, rare diseases, medical devices, and precision medicine. Fund VIII builds upon the prior success of Omega Funds, resulting in 52 commercialized products being brought to market by Omega portfolio companies. The firm's investments have resulted in 50 exits via M&A, and 47 public listings. Omega’s recent M&A exits and IPOs include SoniVie (acquired by Boston Scientific), Scorpion Therapeutics (acquired by Eli Lilly), Kestra Medical Technologies (NASDAQ: KMTS), Beta Bionics (NASDAQ: BBNX), Upstream Bio (NASDAQ: UPB), Bicara Therapeutics (NASDAQ: BCAX), Morphic Therapeutic (NASDAQ: MORF, acquired by Eli Lilly), EyeBio (acquired by Merck), Imago BioSciences (NASDAQ: IMGO, acquired by Merck), Amunix Pharmaceuticals (acquired by Sanofi), and Chord Therapeutics (acquired by Merck KGaA). “We are very grateful to our investors for the support and trust, particularly given this exceptionally challenging fundraising environment. By exceeding its target size, Fund VIII is a recognition of our investment strategy and track record of consistent exits across market cycles,” said Otello Stampacchia, Founder and Managing Director of Omega Funds. “We appreciate the partnership from both our longstanding and new limited partners.” “As with prior funds, Fund VIII will support management teams in the U.S. and Europe through company creation, early venture rounds, and later-stage financings,” said Francesco Draetta, Managing Director of Omega Funds. “We believe our broad investment strategy is well-positioned for navigating this period of macro and policy uncertainty. We look forward to contributing our capital, expertise, and network connectivity in partnering with entrepreneurs, founders, co-investors, and the broader community to transform the standards of care for severe diseases.” About Omega Funds Founded in 2004, Omega Funds is a leading international venture capital firm that creates and invests in life sciences companies that target our world's most urgent medical needs. Omega focuses on identifying and supporting companies through value inflection points across the full arc of innovation, from company formation through clinical milestones and commercial adoption. Omega Funds' portfolio companies have brought 52 commercialized products to market in multiple therapeutic areas, including oncology, rare diseases, precision medicine, medical devices, and others. Please visit www.omegafunds.com for additional information.

Boston and Geneva life sciences investor Omega Funds has rounded up its eighth pool of capital, closing at $647 million, the firm said Monday morning. The 8th fund is roughly equal in size to Omega’s last batch, which came in at $650 million in December 2021 . While they’re about the same in scope, Omega had a higher starting goal for its latest: $600 million versus $500 million for the initial target of the 7th fund in 2021. Omega joins a few other longstanding biotech VC firms to have closed a new fund this year, including Aditum Bio, Sofinnova Partners and Deerfield, among others. A few new funds have emerged, as well, like AN Venture Partners and a collaboration between a16z Bio + Health and Eli Lilly. Within its inner circle, Omega disclosed the final closing at its annual general meeting in May. “I was incredibly surprised, a number of LPs, and these are very large institutions, came to us and said, ‘You’re probably the only GP commitment we’re doing this year,’” founder and managing director Otello Stampacchia said in an interview. “I was blown away by that statement. There’s a real lack of liquidity out there.” The new fund arrives on the back of a string of regulatory and financial successes for Omega-backed startups. Lilly bought two of its portfolio companies in the past 12 months, including Scorpion Therapeutics (and Omega quickly backed its spin-out Antares) and Morphic Therapeutic . Last May, Merck bought EyeBio , a clinical-stage ophthalmology biotech under Omega’s wings. A few braved the public waters, with Upstream Bio, Bicara Therapeutics and Beta Bionics going public in the past 10 months. Meanwhile, the FDA’s thumbs up for Nuvation Bio’s ROS1 cancer medicine marked the 52nd regulatory approval across Omega’s portfolio, the firm said. It hasn’t all been roses, though. Aerium Therapeutics, a biotech that had sought to help protect immunocompromised people from Covid-19, shut down last summer . Resilience, which sought to shake up the biomanufacturing field, is winding down multiple facilities this year. Omega knows the game, though. It’s weathered the ups and downs and all the oscillations that come with biotech investing. The firm has been around since 2004 and has backed more than 150 companies across therapeutics, diagnostics, medical devices and other tools in life sciences. It backs about two dozen or so companies per fund. One of the key learnings from those two decades of investing is being “extremely careful about who you syndicate with,” Stampacchia said. Having alignment among investors on the board and strategic direction of each startup is key, he said. “Another thing that we have been quite unpopular with, I have to say, for the last few years, has been we’ve been trying to tell our companies, if possible, not to go public,” Stampacchia said. “I can tell you that went down like a bag of bricks the first few times we had the conversation with both management teams and other VCs.” With biotech funding in the doldrums, many companies have had to trim their pipelines and lay off staff. Some have shuttered. “It’s not very pleasant when you are within one of those companies that perhaps made some extravagant choices in R&D prioritization and so on. It’s never pleasant when you’re inside,” the Omega founder said. “I went back and read about the Industrial Revolution because every new technology has winners and losers,” he continued. “We’re starting to see this with AI and obviously before that with internet monopolies and all that. But it’s never pleasant when you are within one of those industries who’s being disrupted unless you have the flexibility to adapt. But it’s our job. We are venture capitalists.” Omega made four investments in the first half of the year, according to a report from William Blair. That includes Antares Therapeutics and Windward Bio , which emerged in January with $200 million to carry forward an asthma drug candidate from Chinese biotechs. Helping steer some of Omega’s new investments is AstraZeneca’s former head of R&D, Sir Mene Pangalos , who joined the firm last year as a venture partner. As Omega charts its next bets, it wants to tap into what could become the biggest pharmaceutical market in history: obesity and its many co-morbidities. The firm was disclosed as the sole funder of seed-stage Danish biotech Ousia Pharma in May. The company is working on small-molecule neuroplasticity modulators to target the brain’s “appetite control centers,” it said at the time of its unveiling. “The competitive intensity in some of these areas is very high, so we’re being quite timid or discrete, if you will, just because we want to wrap up some pretty interesting new experiments of which we’ve already seen very good data before we disclose IP and all that,” Stampacchia said of Ousia. “People can leapfrog quite quickly, particularly with small molecules and so on.” “We’re quite optimistic that Ousia, and probably one or two other things that we’re working on, could address” some of the issues that have arisen with the GLP-1 class, Stampacchia said. That includes dosing compliance, tolerability, lean muscle retention and so on.