The UC Berkeley spinout has been snapped up by Astellas, two years after the latter took part in its series A round.
Iota Biosciences, a US-based bioelectronic medicine developer based on University of California (UC), Berkeley technology, has agreed to an acquisition by pharmaceutical firm Astellas, one of its existing shareholders.
Financial terms of the transaction have not been disclosed.
Iota is working on ‘neural dust’ technology developed at 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…
