LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
This week in medtech deals an estimated over $284.1 million in funding was raised across 8 deals, in addition to a number of other undisclosed deals that were announced. Here are some of the top deals tracked:
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Top Deals – Medtech Fundraising Transactions for the Week
|
Company |
Type |
Amount Raised |
Round |
|
Novel hemodialysis machine |
$245,000,000 |
Series D |
|
|
Aspiration catheter for ischemic stroke |
$15,000,000 |
Series A |
|
|
AI-based surgical planning solutions |
$9,000,000 |
Series A |
Top deals for the week are based on publicly available information. At this time of this article’s publication, new deals for the week may have been announced.
LSI's Medtech Startup Tracker is focused exclusively on covering the innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:
Quanta raises $245M for its advanced, portable hemodialysis platform
According to Quanta, the round is the largest private funding round for a dialysis device company in history. The company’s SC+ system is a portable, next-generation dialysis system that is designed to enable in-home dialysis care for patients. The funding will allow the company to scale up global commercialization, with a focus on the US market. In addition to commercialization efforts, Quanta will initiate a clinical study to obtain FDA-clearance for in-home use of the SC+ system. In December 2020, Quanta received 510(k) clearance for use of the system in acute and chronic dialysis centers. The company has raised $351.7M in capital to date.
Cleerly is using artificial intelligence to help prevent heart attacks
Each year 800,000 heart attacks occur in the US. To prevent these deadly events Cleerly is developing Cleerly Coronary, an AI-based solution to support decision making and identification of plaques that could cause a heart attack. The company recently closed a Series B round in June 2021 wherein the company raised $43M. Funds from the round will support commercialization of the company’s AI image analysis platform. Other companies utilizing AI to improve analysis of medical images include Arterys, RapidAI, and Viz.ai.
RapidPulse raises $15M from Series A round
RapidPulse is developing catheter-based solutions for the treatment of ischemic stroke. The company is developing a proprietary aspiration system to rapidly and consistently remove blood blots from the brian. The investment will allow RapidPulse to continue clinical evaluations of their stroke treatment technology. Key strategics in the neurovascular interventions market include Johnson & Johnson, Penumbra, and Terumo. RapidPulse is part of the Syntheon incubator.
Lazurite is developing a wireless visualization system for minimally invasive surgery
Cleveland medical device startup Lazurite, formerly known as Indago, is developing a wireless arthroscopic camera system (ArthroFree). Features of the ArthroFree system include: freedom from fiber-optic cables; greater energy efficiency; cost savings from reductions in setup and breakdown times; and compatibility with current operating room equipment. With a recently completed $10M fundraising round, the company will continue to move towards obtaining marketing approval from the FDA in 2022. The close of this latest round of fundraising brings the total funds raised to date by Lazurite to $15.8M. There are several major competitors in the arthroscopy devices market, including Arthrex, Karl Storz, and Stryker.
Enhatch – Intelligent orthopedic surgery through artificial intelligence
Enhatch’s Intelligent Surgery is an end-to-end software solution for orthopedic surgery. While the demand for surgery continues to increase with the aging population, the number of active surgeons in the workforce is on the decline. Artificial intelligence is helping surgery centers and surgeons minimize inefficiencies and streamline the surgical experience. In addition to supporting surgeons, Enhatch’s Intelligent Surgery platform is also available to help medical device companies design the next generation of orthopedic solutions. The company recently raised $9M from a Series A round in June 2021. Other companies developing AI-harnessing solutions for the orthopedic market include OrthoGrid, Proprio, and Zebra Medical Vision.
Biospectal – smartphone-based clinical-grade blood pressure monitoring
The team at Biospectal has developed a smartphone application that transforms a smartphone camera into a clinical-grade blood pressure monitoring solution. The OptiBP application allows patients to monitor and manage their blood pressure wherever they are, without the need for traditional blood pressure monitoring hardware (e.g. cuffs). Biospectal is currently recruiting users to beta test OptiBP. Nihon Kohden, Omron Health, and Hillrom are some of the leading companies in the blood pressure monitoring market.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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