The bioelectronic medicine developer has been snapped up by Astellas, two years after the latter took part in its series A round.
Pharmaceutical firm Astellas has agreed to buy US-based bioelectronic medicine developer and portfolio company Iota Biosciences for an undisclosed sum.
Iota is working on ‘neural dust’ technology developed at University of California (UC) Berkeley with a view to its use in millimetre-scale implantable medical devices. Astellas intends to invest $125m in the technology in the next five years.
The corporate joined investment firm Shanda, Horizons Ventures, Bold Capital Partners and Ironfire Ventures in Iota’s $15m series A round in…
