Medtech Start-Ups: Inflammatix, Immertec, Novoic, CardioMech & more
LSI's Medtech Start-Up Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Novel molecular diagnostics for the detection of acute infections and sepsis from Inflammatix
Using proprietary machine learning algorithms, Inflammatix’s HostDx InSep and HostDx Fever are rapid point-of-care tests capable of producing results in 30 minutes or less. Inflammatix has successfully raised an estimated $33M in funding since its founding in 2016. Key competitors in the point of care diagnostics market include Abbott, BD, and Roche.
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Immertec, a VR training platform for surgeons, raises $6M in Series A funding round
The funds will be used to bring on key personnel, including a COO and supply chain manager. Interest in the company’s medical training platform has exploded as a result of the coronavirus pandemic. Using the technology, surgeons can learn new procedures and train with new medical devices. The company is planning to complete a larger Series B round in 2021.
Novoic is identifying neurological disease with an AI-powered speech analytics platform
Novoic’s technology is capable of detecting alterations in speech patterns which can be early indicators of neurological disease. The company recently raised $2.6M in a late-July Seed round. Funds will be used to help the company build its research team and advance clinical programs. Novoic is currently seeking academic and commercial partnerships.
Catheter-based mitral valve repair technology is being developed by CardioMech
The mitral valve repair technology is intended to treat patients with severe, symptomatic degenerative mitral valve regurgitation caused by flail or prolapse. The company recently raised $18.5M in a Series A round, bringing the total amount raised by CardioMech to $23.5M. The transcatheter heart valve repair market has exploded in recent years, with strategics Abbott, Boston Scientific, Edwards, and Medtronic leading the market.
Alydia Health raises $13.9M in Series C funding round
The company is preparing for commercialization of its postpartum hemorrhage device in the US. Alydia Health has already submitted for 510(k) clearance from the FDA for its Jada system. To date the company has raised $24.2M in funding. Key competitors in the strategic landscape include Boston Scientific, Medtronic, and Teleflex.
Trobix Bio is using a phage-based biotechnology platform to fight against antimicrobial resistance
The company’s proprietary phage-based antibiotic sensitizing solutions, GoTraP and ActiSense offer a highly selective approach to circumventing bacteria resistance for commonly used antibiotics. The company recently raised $3M in a Series A round.
Fractyl Laboratories is developing minimally invasive therapies to treat metabolic disease
In June the company was granted Investigational Device Exemption from the FDA in order to begin a pivotal study of its Revita DMR device for the treatment of insulin resistance in individuals with Type 2 Diabetes. To date, the company has raised $190.1M in funding, with a recently completed Series E round valued at $55M.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Start-Up Tracker.
