In a successful week for the medical technology companies in the LSI Alumni community, we saw over $50 million raised, new FDA clearances, awarded new patents, and much more. Read this week’s recap for a top-line look at the latest medical device news and achievements from the LSI Alumni on the road to LSI Europe '24 in Sintra, Portugal this September.
Announced that Acarix shares have begun trading on the OTCQB Market in the US (OTCQB: ACIXF). The CE-approved and FDA DeNovo-cleared Acarix CADScor System is intended for patients experiencing chest pain with suspected CAD and designed to help reduce millions of unnecessary, invasive, and costly diagnostic procedures.
Announced the change of its name to Avvio Medical signifying its commitment to bringing a novel technology, the AVVIO Acoustic Cavitation Lithotripsy System to market. The company’s initial technology is designed to offer patients and healthcare professionals a fast, minimally invasive solution for treating urinary stone disease in various clinical or outpatient settings, eliminating the routine need for anesthesia or X-ray imaging.
Announced the appointment of Shlomi Nachman and Timothy Scannell to its Board of Directors. The company's patented eShunt System includes an endovascularly implantable cerebral spinal fluid shunt and delivery components, which are designed to treat CH without invasive surgery.
Announced FDA clearance of the ninth generation of AI-powered Swoop® system software. The Swoop® Portable MR Imaging® system is a portable, ultra-low-field magnetic resonance imaging device for producing images that display the internal structure of the head where full diagnostic examination is not clinically practical.
Announced it has been awarded the NSF SBIR grant to further develop its proprietary aneurysmal sac sealing technology. The company's proprietary solutions have the potential to eliminate endoleaks, the main cause of reinterventions in Endovascular Aneurysm Repair (EVAR).
Awarded a U.S. Patent covering the company’s NaviSci™ System for the minimally invasive localization and resection of lung and other cancers with real-time margin control. The NaviSci System is designed to enable the physician to know precisely where the target tumor and surrounding tissue are in relation to the surgical instrumentation in real time and guide the surgeon on margin distance for excising the nodule.
Closed a $23M Series D funding round led by Vertex Ventures HC and Treo Ventures with participation by Action Potential Venture Capital, Windham Venture Partners, Olympus Innovation Ventures, and another strategic investor. This round will fund the company through expected FDA premarket approval of the Neuspera System, the discreet, minimally invasive, ultra-miniaturized implant designed to provide patients personal control and relief from urinary urge incontinence, a symptom of overactive bladder.
Awarded blended financing which includes a €2.5 million grant and additional equity investment from the European Innovation Council Horizon Accelerator program. Already in the market with its inaugural product, ArtiFascia®, a novel dura repair graft launched in the US and awaiting CE approval, Nurami will utilize the EIC funding to advance the development of its second product, currently in pre-clinical trials.
Received FDA Clearance for its brain PET system NeuroLF®. The NeuroLF® system is an ultra-compact imaging device that assists in diagnosing and monitoring brain related disorders like Alzheimer’s disease, Brain Tumors, Epilepsy, Parkinson’s disease, and others.
Closed a $14 million Series B funding round led by Relyens Innovation Santé, advised by Turenne Capital, and saw participation from new investors Mutuelles Impact, Wille Finance, Noshaq and WE Life Sciences (Wallonie Entreprendre), along with returning investors Panakès Partners, BOM and b2venture. Additionally, Claire Poulard, Investment Director at Turenne Capital, and Henry Charlton, SVP and Chief Commercial & Marketing Officer at Intuitive joined the company's Board of Directors.
Announced the first U.S. patient implanted with its V-LAP Left Atrial Pressure sensor. The company's V-LAP System enables heart failure patients to better control their disease by remotely monitoring the heart's Left Atrial Pressure and detecting fluid accumulation in the earliest stages of the disease, prior to physiological symptoms.
Received a $15M in Growth Capital Investment from Trinity Capital. Velentium designs, develops, manufactures, and provides post-market support for medical devices, particularly active implantable and wearable devices.
Stay tuned for more updates, insights, and achievements of our LSI Alumni in our Weekly Recap, and follow our blog for the latest medical device news and advancements.
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