LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
March 2021 is off to a strong start in terms of fundraising activity for medtech startups. An estimated $135M in funding was raised in the first week of March across six deals. 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 |
|
|
Telehealth solution |
$50,000,000 |
Series D |
|
|
Biology-guided radiotherapy |
$40,000,000 |
Series D |
|
|
Vascular access solutions |
$20,000,000 |
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 privately-held innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:
VIDA – utilizing artificial intelligence to improve outcomes in respiratory and lung care
Artificial intelligence (AI) is at the heart of VIDA’s solutions to help healthcare providers effectively interpret and monitor the progression of lung disease in their patients. In addition to improving patient outcomes, VIDA develops solutions for clinical trials that accelerate the validation of medical devices and novel therapeutics. The company has raised approximately $20.4M to-date. GE Healthcare and Philips are key strategics that offer advanced visualization tools and software for respiratory care.
VIDA is a presenting company at Life Science Intelligence’s 2021 Emerging Medtech Summit.
SurgiVance – rapid, point-of-care histopathological assessment
The company is developing a point-of-scanner for the analysis of tissue samples excised during Mohs surgery. SurgiVance’s solution allows Mohs surgeon to perform a rapid surgical margin assessment to ensure total removal of cancerous tissue. Initially being developed for use during Mohs surgery, the company plans to expand its technology for the assessment of other cancers, and potentially explore the feasibility of the technology for the primary diagnosis of cancers. In January 2021, the company raised $594,000 during a Pre Seed round.
R2 Technologies – treating unsightly cosmetic blemishes with cryomodulation
The GlacialRx system utilizes proprietary cooling technology to clear and remove benign lesions of the skin. The procedure, which takes approximately 15 to 20 seconds per spot, suppresses the production of melanin with precisely targeted cooling. The company received $10M in funding from a Series B round in February 2021. Funds from the round will be used to support the commercialization of the company’s GlacialRx system. R2 Technologies has raised an estimated $60M in capital since its inception. Major strategics in the aesthetics market include Alma Lasers, Galderma, and Syneron Candela.
Broncus Technologies is focused on developing solutions to treat patients with lung disease
Broncus develops interventional navigation, diagnostic, and therapeutic solutions for lung disease. Through its subsidiary, Uptake Medical, the company is developing a solution for bronchoscopic thermal vapor ablation (BTVA). This minimally invasive solution delivers ablates diseased areas of the lungs, which results in improvements in breathing and increase pulmonary function. To-date, Broncus has raised an estimated $134.8M in financing. Karl Storz, Medtronic, and Olympus are some of the key strategics that develop solutions for the visualization and treatment of lung diseases.
Implicity – smart remote monitoring platform for arrhythmia patients
The Implicity platform employs an AI module to remotely monitor implanted cardiac devices, such as defibrillators and pacemakers. Designed by an electrophysiologist, the technology is intended to support and allow healthcare providers to more effectively diagnose, monitor, and rehabilitate patients. The company has also developed a heart failure module intended to predict disease progression and avoid costly hospital readmissions. Major competitors in the implantable cardiac rhythm management market include Abbott, Biotronik, and Boston Scientific.
Implicity is a presenting company at Life Science Intelligence’s 2021 Emerging Medtech Summit.
Retia Medical – accurate and affordable hemodynamic monitoring
The company develops and commercializes cardiac output (CO) monitoring solutions to help clinicians make confident and data-driven decisions in critically ill and high-risk patients in the operating room and ICU. Retia’s proprietary Multi-Beat Analysis (MBA) algorithm analyzes multiple heart beats and peripheral arterial blood pressure to more accurately determine CO. In addition to monitoring CO, the company is developing new algorithms to help clinicians better detect, diagnose, and treat shock. These algorithms power Retia’s Argos Monitor – a cost-effective device designed for CO monitoring. Baxter, Edwards Lifesciences, and Getinge are key strategics in the CO monitoring market.
Retia Medical is a presenting company at Life Science Intelligence’s 2021 Emerging Medtech Summit.
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