LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Noctrix Health raises $17M from Series B round
Noctrix Health is developing wearable therapeutics for the management of chronic illnesses. The company was founded to develop a non-pharmaceutical treatment for restless leg syndrome (RLS). Using a neuromodulation-based approach to treat the painful sensations associated with RLS. The device has received “Breakthrough Device Designation” from the US FDA. Boston Scientific, Medtronic, and Nevro are some of the key strategics in the neuromodulation devices market.
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Moray Medical is developing an easy-to-use robotic surgery system for transcatheter valve repair
The Coral system is Moray Medical’s proprietary robotic system for the percutaneous delivery of valve therapies. The system is intended to simplify transcatheter valve procedures, lowering the learning curve traditionally needed to perform these procedures. The transcatheter valve repair and replacement markets continues to rapidly grow, as new technologies are approved for use in larger subsets of patients. Strategics in the robotic surgery and transcatheter valve markets include Edwards Lifesciences, Intuitive Surgical, and Medtronic.
Impulse Dynamics closes Series D round for $60M
Funds from this round will be used to support commercialization of the company’s Optimizer Smart device. The Optimizer device is an implantable device that delivers precisely timed electrical pulses to strengthen the heart’s contractions in patients with chronic heart failure. To-date, the company has raised an estimated $215.3M. Abbott, Boston Scientific, and LivaNova are some of the major competitors in the implantable cardiovascular devices market.
OptiCyte – preventing organ failure with real-time cellular O2 monitoring
OptiCyte’s Cell O2 Monitor is an innovative cellular O2 monitor that can detect low cellular oxygen levels in real-time. By monitoring cellular oxygen level, physicians can identify indications of sepsis earlier and prevent organ failure in critically ill patients. According to the company, their technology is the only one capable of evaluating oxygen levels at the cellular level. Conventional oximeters measure oxygen levels in arterial blood. Major players in the pulse oximetry market include GE Healthcare, Masimo, and Philips.
Adeptrix closes Series A round for an undisclosed amount
The company specializes in the development and manufacturing of analytical reagents and assays for use on the company’s Bead Assisted Mass Spectrometry (BAMS) platform. Adeptrix has developed reagents for protein analysis in the fields of epigenetics, neurology, and oncology. Funds from the round will support the commercialization of their BAMS products and the development of custom assay services for clinical, pharma, and food-science customers. Bio-Rad Laboratories, Roche, and Thermo Fisher Scientific are some of the key strategics in the molecular diagnostics market.
Nasus Medical – innovating intranasal drug delivery
Nasus Medical is developing a novel drug delivery device for the intranasal delivery of pharmaceuticals. Chronic sinusitis is the first therapeutic area for which the Nasus drug delivery platform is being designed to treat. According to Nasus Medical, 50% of patients being treated for chronic sinusitis are ineffectively managed with current nasal steroid sprays, which forces patients to take multiple medications. Key strategics in the drug delivery and chronic sinusitis treatment markets include BD, Insulet, and Tivic Health.
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