In this past week in medtech deals approximately $197.8M in funding was raised across 4 deals, in addition to other undisclosed deals that were announced. The majority (71%) of this week’s funding is attributable to a massive Series C round closed by Twin Health.
Below are some of the top deals tracked over the past week:
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Top Deals – Medtech Fundraising Transactions for the Week
|
Company |
Type |
Amount Raised |
Round |
|
Digital health platform for chronic metabolic disease reversal |
$140,000,000 |
Series C |
|
|
AI image enhancement solution |
$25,000,000 |
Series A |
|
|
Remote monitoring system for molecular biomarkers |
$20,500,000 |
Series B |
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:
Twin Health closes massive $140M Series C round investment
Twin Health is developing a digital health platform to help patients prevent and reverse chronic metabolic diseases. By collecting thousands of personal data points through wearable monitors and self-reporting, the platform creates a Whole Body Digital Twin – a personalized, dynamic, digital representation of the patient. The Whole Body Digital Twin teaches patients actions that help them manage their chronic diseases. Digital Health companies are finding their place in the healthcare ecosystem, with key success stories including Livongo and Noom.
IQ Endoscopes – affordable, effective, sustainable endoscopes
The company’s mission is to create sustainable, single use endoscopes that can meet the global demand for affordable endoscopic equipment that eliminates the need for cleaning, maintaining, and purchasing traditional endoscopes. Currently, the company is seeking regulatory approval for a single use, flexible gastroscope. IQ Endoscopes is also developing a disposable colonoscope. Electrosurgical medtech developer Creo Medical is a major investor the company. The company recently raised $5.5M from a Series A round led by Creo and the Development bank of Wales. Key strategics in the endoscopy market include Karl Storz, Olympus, and Stryker.
GraphWear Technologies completes Series B round, raises $20.5M
GraphWear will use the investment to drive the development and scale of their non-invasive molecular monitoring platform. The company is developing a needle-free wearable to monitor molecular biomarkers in real-time. Initially the technology will be employed to monitor glucose, with additional applications to follow in the future. To date, GraphWear has raised an estimated $25.2M in total funding. The continuous glucose monitoring market is dominated by major players, including Abbott, Dexcom and Medtronic.
Catalyst OrthoScience is redefining total shoulder replacement
The Archer CSR Total Shoulder Replacement System is a stemless, ellipsoid anatomic system that offers surgeons enhanced versatility compared to the traditional shoulder replacement technique. This versatility is achieved through the creation of a multiplanar osteotomy that spares healthy areas of the glenohumeral joint. According to Catalyst, the Archer system has been used in more than 3,000 procedures. In October 2021, Catalyst raised $12.3M in funding. The oversubscribed Series D funding will allow the company to expand their team and continue to develop their product portfolio. Catalyst OrthoScience has raised a total of $30.6M in capital.
TreeFrog – efficient therapies to unleash the potential of stem cells
TreeFrog’s has developed C-stem, a high-throughput process for the cultivation of differentiated stem cells that can be rapidly delivered to patients. The company partners with clinical and research teams to develop read-to-graft microtissues for multiple indications. TreeFrog’s lead program is a microtissue graft to generate dopaminergic neurons to cure Parkinson’s disease. The program is preparing for first-in-human trials in 2024. In September 2021, TreeFrog raised an estimated $74M from a Series B round, bringing the company’s total funding amount to $86.9M.
DeepSight Technology raises $25M
Using patented artificial intelligence, hardware, and software, DeepSight is improving the quality and depth of penetration of medical diagnostic ultrasound. It is the company’s mission to broaden the utilization of ultrasound into applications which have traditionally relied on more costly or harmful imaging modalities, such as CT and MRI. According to the company, their technology has the potential to achieve 100x greater sensitivity than current ultrasound systems. GE Healthcare, Philips, and Siemens are some of the top strategics in the global ultrasound market.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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