Beta Bionics, a medical device startup with substantial operations in Irvine that is looking to develop the world’s first autonomous bionic pancreas for those suffering from diabetes-related issues, closed its $63 million Series B round of funding.
This brings the company’s total capital raised to $137 million.
Beta was formed in 2015; its AI-driven technology was developed in the Damiano Lab at Boston University, and the company has offices in Boston and Irvine; financial statements from April list Irvine as its corporate headquarters.
Its main manufacturing facilities are near The Market Place shopping center, just off Jamboree Road; those facilities are reported to run about 15,000 square feet. It entered a lease there last year.
Financial backers include Perceptive Advisors LLC, Soleus Capital, Farallon Capital Management LLC, RTW Investments LLC, and ArrowMark Partners.
— Mark Mueller
