LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
GT Medical Technologies closes Series B funding round
The round, funded by MVM Life Science Partners and two other investors, raised $16M to support the commercialization of the company’s FDA-cleared GammaTile Therapy. GT Medical’s GammaTile therapy is placed directly at the location of a brain tumor’s post-surgical excision to irradiate residual tumor cells and prevent tumor cell replication and recurrence. With the completion of this recent fundraising round, the company has raised approximately $29M. Accuray, Elekta, and Varian are some of the key strategics in the market for targeted radiation therapy.
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Rubix LS - solutions for rare diseases using cellular regeneration
The company is using a device-based approach to deliver regenerative cellular therapies for the treatment of rare diseases and cancer. Currently Rubix is developing three solutions – Hercules for for osteopenia, arthrodesis, and osteonecrosis; Icarus for mitigating abnormal glial tissue growth; and Asclepius for rare oral diseases. The company completed their first seed round in November 2020, raising $450,000.
OnSite Waste Technologies – converting medical waste into regular trash
OnSite Waste Technologies has developed the TE-5000, a desktop-sized medical device that processes and converts medical waste into sterile garbage. The technology is intended to be a more cost-effective and sustainable alternative to haul-away services for smaller healthcare organizations. OnSite Waste Technologies has raised approximately $7M, with the most recent fundraising round being completed in November 2020.
NuVera Medical is using 4D ICE imaging to guide complex structural heart and electrophysiology procedures
According to NuVera, the use of 4D intracardiac echocardiography will improve upon the current standard-of-care for structural heart and electrophysiology procedures. The company’s technology is intended to give the interventionalist control of procedure imaging, reducing the need for a dedicated echocardiographer and offering potential cost savings. NuVera has raised approximately $15M to-date. The company is part of Shifamed’s portfolio. Other competitors include Esaote, GE Healthcare, and Siemens.
Sonopor -ultrasound-based drug delivery technology for infection control
The company’s technology is being developed to deliver antibiotic drugs directly to targeted tissues and pathogenic cells. The platform allows healthcare providers to bypass the circulatory system and deliver a higher concentration of localized antibiotics with lower systemic exposure. BD, Eli Lilly, and Pfizer are some of the key strategics in this market.
CathBuddy is developing a reusable urinary catheterization system to improve standard of care
In an effort to improve sustainability and reduce the incidence of urinary tract infections, CathBuddy is developing a reusable intermittent urinary catheter. To-date, CathBuddy has raised approximately $820,000 from Seed rounds. Key strategics in this market include Bard/BD, B. Braun, and Hollister.
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