The Weekly Recap 4/25/25: LSI Alumni Achievements Driving Medtech and Healthtech Forward

In a successful week for the medical technology companies in the LSI Alumni community, we saw LSI Alumni secure $164M in new funding, receive regulatory clearances, achieve clinical milestones, and much more on the road to LSI Asia ‘25 in Singapore (June 10-13).

AMT Medical

Raised $25 million in Series B funding to accelerate the development of the ELANA® Heart Bypass System, a sutureless, minimally invasive alternative to open-heart coronary artery bypass surgery. The company aims to reduce complications, enable robotic compatibility, and cut procedure costs by over 50% with a standardized, beating-heart approach that eliminates the need for sternotomy or heart-lung machines.

Axoft

Completed the first four cases in its first-in-human clinical study of the Fleuron™ implantable brain-computer interface (iBCI), demonstrating safe implantation and high-resolution neural recordings. The ultrasoft iBCI captured stable single-neuron activity and a biomarker of consciousness, validating Axoft’s novel material for next-generation neurotech.

BackStop Neural

Appointed Dr. Kasra Amirdelfan to its Technical Advisory Board, adding deep clinical expertise in spinal cord stimulation (SCS) and pain management. His guidance will support BackStop Neural’s development of next-generation thin-film SCS leads aimed at expanding access and improving patient safety.

Biolinq

Closed a $100M Series C financing round to advance regulatory and commercial readiness for its intradermal glucose sensor. Biolinq’s biowearable platform combines continuous glucose monitoring with real-time metabolic insights, targeting people living with Type 2 diabetes not on insulin.

CereVasc

Received a second FDA Breakthrough Device Designation for its eShunt® System, this time for the treatment of communicating hydrocephalus in pediatric patients aged 12 and older. The designation, supported by original research and pilot data, highlights the feasibility and potential of CereVasc’s minimally invasive approach to address a critical unmet need in pediatric neurology.

Conavi Medical

Closed a $20 million public offering to support development and pre-clinical testing of its Novasight 3.0 imaging system. The financing will fund regulatory submission efforts, working capital needs, and continued advancement of Conavi’s hybrid IVUS-OCT platform for image-guided cardiovascular procedures.

Efemoral Medical

Reported standout 6-month outcomes from the EFEMORAL I First-in-Human trial, including 0% residual stenosis and a record-setting 4.74 mm mean minimal lumen diameter at six months. The results highlight Efemoral Medical’s next-generation approach to treating peripheral artery disease with improved vessel patency and procedural success.

Field Medical

Announced first-in-human data for its FieldForce™ Ablation System in scar-related ventricular tachycardia (VT), featured as late-breaking science at Heart Rhythm 2025. The company also closed a $40M Series A financing round to advance clinical trials and scale development of its contact force focal PFA catheter.

LEM Surgical

Received FDA 510(k) clearance for the Dynamis Robotic Surgical System, a first-of-its-kind, multi-arm platform designed to enhance accuracy and control during spine surgery. The clearance marks a major milestone in robotic-assisted hard tissue surgery and paves the way for select U.S. hospital launches in 2025.

Mendaera

Announced a strategic collaboration with Cook Medical to integrate EchoTip needle technology into Mendaera’s handheld robotic platform for ultrasound-guided urological procedures. The partnership combines best-in-class disposables with precision robotics to improve accuracy, workflow, and access in needle-based interventions.

NanoDrops

Appointed Daria Lemann-Blumenthal as Chief Executive Officer, bringing decades of ophthalmic leadership and fresh off a $466M exit with BELKIN Vision. NanoDrops is developing a minimally invasive, nanoparticle-based laser procedure for customizable vision correction in presbyopia and myopia.

Nia Therapeutics

Appointed Milton M. Morris, Ph.D., NACD.DC to its Board of Directors, bringing decades of neuromodulation leadership and a track record of driving FDA approvals and investor confidence. The company is advancing its Smart Neurostimulation System (SNS), an AI-guided therapy designed to restore memory through precision brain stimulation.

Simplex Quantum

In collaboration with the University of Tokyo, the company unveiled a groundbreaking AI technology for heart failure monitoring, centered around the HF-index—a novel AI-derived metric that facilitates on-demand, at-home assessment of heart failure severity. This innovation promises to enhance patient care by enabling continuous, real-time monitoring outside clinical settings.

Spiro Robotics

Appointed Trae Gordon as Chief Commercial Officer to lead Spiro Robotics’ go-to-market strategy and investor engagement. The company is advancing robotic and AI-powered solutions to transform difficult airway management and improve patient outcomes.

Theradaptive

Appointed Daniel Wolf as Chief Financial Officer to support Theradaptive’s strategic growth and upcoming Series B fundraising. With prior leadership roles at Medtronic and Baxter, Wolf brings deep experience in musculoskeletal M&A, strategy, and financial operations to advance Theradaptive’s targeted therapeutic delivery platform.

Transverse Medical

Completed the first series of patients in its feasibility clinical study at the Victorian Heart Hospital using the POINT-GUARD™ Cerebral Embolic Protection device. The study marks a key milestone in Transverse Medical’s mission to deliver full-brain protection during TAVR procedures through next-generation embolic coverage.

Vektor Medical

Announced the launch of IMPRoVED AF, a randomized controlled trial evaluating the benefit of AI-powered vMap® analysis to identify and ablate non-pulmonary vein targets in persistent and recurrent atrial fibrillation (AF). The study, alongside the new VITAL-EP registry, underscores Vektor Medical’s commitment to generating clinical evidence that advances arrhythmia care and improves ablation outcomes.

Vivasure Medical

Received CE Mark approval for PerQseal® Elite, the first fully absorbable, sutureless vascular closure system for large-bore procedures like TAVR and EVAR. Designed to simplify deployment and eliminate the need for pre-procedure steps, PerQseal Elite enhances procedural efficiency while reducing the risks associated with traditional closure methods.

Stay tuned for more updates, insights, and achievements of our LSI Alumni in The Weekly Recap, and follow our blog for the latest medical device news and advancements.