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Medtech Start-Ups: Evolution Devices, Photonicare, Adona Med. & more

Published on Sep 8, 2020


LSI's Medtech Start-Up Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.  

Evolution Devices – using artificial intelligence to personalize mobility rehabilitation

The company is developing EvoWalk, a functional electronic stimulation device that monitors and personalizes electrical stimulation to support mobility rehabilitation in patients suffering mobility impairments caused by stroke, ALS, and multiple sclerosis. Key strategics in the neuromodulation devices market include Boston Scientific, LivaNova, and Medtronic.

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Miracor Medical Systems raises $28.4M in Series E round

Miracor’s lead product, PiCSO (pressure-controlled intermittent coronary sinus occlusion) to restore perfusion at the microvascular level in patients suffering from myocardial infarction. To-date the company has raised approximately $100M, with the latest round of funds intended to support and advance clinical studies in Europe and the US, as well as commercialization in Europe. Major competitors in the cardiovascular devices market include Abbott, Boston Scientific, and Medtronic.

i-Lumen Scientific – improving eyesight using proprietary Neural Retinal Therapy

The i-Lumen AMD device is being developed for the treatment of age-related macular degeneration, which impacts over 100 million people worldwide. The device delivers a micro-current pulsed electric field to the retina and diseased macular tissue to restore functional cellular metabolism to cone, rod, and underlying retinal pigment cells. The company has been granted two US patents for its proprietary hardware and software.

Deep Blue Medical Advances is addressing critical design flaws of hernia mesh with their novel hernia mesh

T-Line is a novel hernia mesh that addresses the issue of fixation site failure by creating mesh extensions that pass through the fascia and increase surface area for fixation. Lawsuits related failures of hernia mesh, particularly synthetic hernia mesh, have affected four major competitors in the surgical mesh market. Strategics competing in the surgical mesh market include Atrium, BD, and Medtronic.

Adona Medical is developing an innovative solution for the treatment of heart failure

The company is currently raising $24.8M, of which the company has received $20.5M in investments. The use of the proceeds has not been listed. Adona Medical is currently operating in stealth mode, with little known about the company’s technology for the treatment of heart failure. The company is part of the recently formed Shifamed portfolio.

PhotoniCare raises approximately $7.3M in recent fundraising rounds

The company recently announced that it had received a grant from the NIH and completed a Series A round. With the completion of these latest rounds, the company has successfully raised over $12M. PhotoniCare develops TOMi Scope, a cost-effective handheld imaging platform for visualization of the middle ear. Karl Storz, Olympus, and Welch Allyn are some of the key strategics in this market.

Monteris Medical – neurosurgical ablation platform for the treatment of brain tumors

NeuroBlate is a minimally invasive, robotic, laser thermal ablation system capable of precise ablation of brain tumors using MRI guidance. Monteris has raised approximately $129M. The company is currently seeking to raise $30M, of which it has already raised $9M. Key strategics in the radiosurgery market include Accuray and Elekta.

Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Start-Up Tracker.

Topics: Medtech, Medtech Venture Capital, Startup, Strategics, Medtech Innovation Weekly Update

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