A new fund for medical diagnostics has secured €50 million in capital from leading European institutions, including the European Investment Fund (EIP), an agency of the EU. The fund, Kurma Diagnostics 2, is being launched by Kurma Partners, a venture capital company based in Paris, France. It is expected to invest in about 15 companies specialising in molecular and digital diagnostic technologies.

Galecto Inc has raised $64 million in equity financing to prepare for a potential conditional approval of its lead product for the treatment of idiopathic pulmonary fibrosis in the EU and to further advance its clinical-stage products for liver fibrosis and myelofibrosis.