Macroeconomic uncertainty, confusion surrounding the diagnostic regulatory landscape, and the continuing post-COVID-19 pandemic hangover have all contributed to a stagnant, quiet period for mergers and acquisitions in the in vitro diagnostics space in the first half of 2024.
The New Orleans biotech is currently raising a tiny $8 million Series A to develop its non-opioid painkiller. It keeps costs low by paying employees cash on an hourly basis—but no salaries.
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