Led by $30m venture financing of Genomics, total medical devices industry venture financing deals worth $391.2m were announced in Europe in Q1 2021, according to GlobalData’s deals database.

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The value marked a decrease of 6.5% over the previous quarter and a drop of 0.7% when compared with the last four-quarter average of $393.93m.

Europe held an 8.50% share of the global medical devices industry venture financing deal value that totalled $4.6bn in Q1 2021. With a 3.56% share and deals worth $163.81m, France was the top country in Europe’s venture financing deal value across medical devices industry.

In terms of deal activity, Europe recorded 46 deals during Q1 2021, marking a decrease of 9.80% over the previous quarter and a drop of 13.21% over the last four-quarter average. The UK recorded 15 deals during the month.

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Europe medical devices industry venture financing deals in Q1 2021: Top deals

The top five venture financing deals accounted for 34.5% of the overall value during Q1 2021.

The combined value of the top five medical devices venture financing deals stood at $134.98m, against the overall value of $391.2m recorded for the quarter.

The top five medical devices deals of Q1 2021 tracked by GlobalData were:

1) Foresite Capital Management, F-Prime, Lansdowne Partners and Oxford Sciences Innovation’s $30m venture financing of Genomics

2) The $30m venture financing of Menwell by Cherry Ventures, Felix Capital Partners, Sonoma Brands and Waldencast

3) Gilde Healthcare Partners and Groupe Pasteur Mutualite’s $28.21m venture financing of Volta Medical

4) The $25m venture financing of Neurent Medical by Atlantic Bridge Capital, Fountain Healthcare Partners and LSP HEF 2

5) Andera Partners, Asabys Partners, Caixa Capital Risc SGEIC, Center for the Development of Industrial Technology, Innogest Capital II and VI Partners’ venture financing of Medlumics for $21.77m.