Boston healthtech and biotech companies announced significant new investments last month. The city’s five biggest tech funding rounds brought in a combined $570.2 million to fuel developments like new precision cancer treatments and AI-powered tools for dentistry. Keep reading for more details on how these companies plan to advance medicine.
Top Boston Tech Funding Rounds, March 2024
- Sionna Therapeutics
- Clasp Therapeutics
- FogPharma
- Overjet
- CodaMetrix
#5. $40 million, March 12
CodaMetrix builds AI-powered solutions to streamline medical coding and improve efficiency in the healthcare industry. The $40 million in Series B funding it secured in March will help CodaMetrix continue advancing its technology for autonomous touchless coding and coding decision support. Thousands of medical providers rely on CodaMetrix’s products to improve accuracy and productivity for revenue cycle processes.
#4. $53.2 million, March 5
Healthtech startup Overjet raised $53.2 million to expand its AI solutions for dental providers and payers. That Series C funding round puts Overjet’s total financing at roughly $133 million. Aiming to improve patient outcomes, Overjet built an AI platform with tools for precision diagnoses and faster claims decisions, and it plans to continue enhancing those capabilities.
#3. $145 million, March 1
FogPharma’s $145 million in Series E funding will enable the continued development of FOG-001, a treatment for advanced solid tumors that’s undergoing clinical trials. FogPharma says it’s working toward “universal druggability” by developing new therapies known as Helicons to address diseases that available drugs haven’t been able to treat.
#2. $150 million, March 20
Biotechnology startup Clasp Therapeutics announced its launch in March along with $150 million in Series A financing to kickstart its development of cancer immunotherapies. Clasp Therapeutics plans to focus on working with T-cell engagers, which are antibody-like medications designed to trigger the body’s immune system to attack tumors.
#1. $182 million, March 6
Sionna Therapeutics plans to expand clinical development for its cystic fibrosis treatments after pulling in a $182 million Series C funding round last month. Sionna engineers small molecule therapies to target the genetic mutations that commonly cause cystic fibrosis. It has one compound already in clinical trials and three more headed in that direction.
