November was another impressive month of funding for the LSI Alumni, raising over $140 million in new capital across eight new deals and one acquisition. Our monthly Alumni Funding Update features transactions made by these medical device startups and their investors, as well as links to our proprietary media and coverage of the companies themselves.
Companies featured in the November 2024 update include:
Secured $3M in its latest funding round. The newly acquired capital will facilitate the initiation of two clinical studies to validate the safety and efficacy of ARC Medical's innovative surgical adhesion prevention solutions, JOCOAT and IPCOAT.
Received a $3.5 million Phase II Small Business Innovation Research (SBIR) grant from the National Institutes of Health (NIH). The company is developing innovative organ preservation technology to address the shortage of transplantable organs, with an initial focus on the kidneys.
Announced the close of a convertible note funding round led by Kendall Capital Partners. The new funding will help expedite the company's initiatives to enhance its range of skeletal reconstruction solutions and expand its global reach.
Raised $37M in a Series B funding round to accelerate the development and commercialization of its self-forming magnet, Flexagon. The platform provides sutureless end-to-end anastomosis through its magnetic anastomosis technology.
Secured $40M in a Series B funding round led by Marshall Wace. The company plans to allocate the funds toward completing its IDE trial and gearing up for the upcoming commercial launch of its AVENTUS Precision Thrombectomy System.
Acquired LSI Alumni Galen Data. Galen Data intends to accelerate the expansion of its compliant medical device connectivity infrastructure into new markets and broaden its service offerings by tapping into Lauxera’s global network and specialized expertise.
Secured $5M in an oversubscribed Seed funding round led by Dexcom Ventures. The funding will support the continued development of its fenoTRACK device, a portable, non-invasive breath test designed to measure airway inflammation through fractional exhaled nitric oxide detection.
Received a $2M contract from the DoD Congressionally Directed Medical Research Programs (CDMRP) through the Traumatic Brain Injury and Psychological Health Research Program (TBI PHRP). The funding will be used to support clinical trials for the company’s NeuroHawk device.
Closed a $50M Series B funding round led by Sands Capital to advance its mission toward initiating a first-in-human clinical study. The company is developing a special life support system aimed at enhancing outcomes for babies born prematurely.
Stay tuned for more updates as these medical technology companies continue to innovate and lead the way in the medtech industry. As we look forward to LSI USA '25 in Dana Point next March, these achievements remind us of the incredible progress being made in the medtech sector.
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