Medtech Startups: BioProtect, Willow, Salvia BioElectronics, & more

Published on Sep 28, 2020


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

BioProtect - biodegradable balloons for a variety of clinical applications

The company develops and commercializes biodegradable balloons for aesthetics, general surgery, and spacing for radiation oncology protection. In September, the company raised $25M in a Series D round. To-date, BioProtect has raised approximately $43.9M. Key strategics in the market include Accuray, Brainlab, and Varian.

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Women’s health startup, Willow, raises $55M in Series C round

The Series C round was led by New Enterprise Associates, with additional contributions from three other investors. Willow’s commercialized product is a discreet, all-in-one breast bump. With the completion of the recent Series C round, Willow has raised approximately $117.5M in funding. Other competitors in the women’s health technology market include Cami, Medela, and MedGyn.


Salvia BioElectronics, an innovative biotechnology company, is developing technology for neurological disorders

The company is developing miniature neuromodulation technology that is placed seamlessly underneath the skin. Salvia’s technology is initially being developed for the treatment of chronic migraine. In September, the company completed a Series A round worth $31M, bringing total funds raised to date to approximately $34.6M.

Medasense Biometrics – developer of non-invasive pain monitoring technology

Medasense has a developed proprietary pain monitoring technology that can accurately and continuously monitor a patient’s physiological response to pain. The technology is used to optimize pain management in critical care settings. In September, the company completed a Series C round valued at $18M. Draeger, GE Healthcare, Philips, and Welch Allyn are some of the key strategics in the patient monitoring systems market.

PEDRA Technology is developing real-time intra-operative perfusion monitoring technology

The technology will help physicians rapidly evaluate procedural risk in the angiography suite to help reduce negative clinical outcomes. PEDRA’s real-time perfusion monitoring uses advanced speckle laser technology to distinguish between ischemic and neuropathic diabetic foot ulcers. PEDRA Technology recently raised $2.7M in a Series A round led by Seeds Capital. Abbott, Hemedex, and Masimo are key strategics in the market.

Babson Diagnostics raises $13.7M in Series A round

The company is developing an over-the-counter blood diagnostic. In response to COVID-19, the company is developing scalable serology assays for the detection of COVID-19. In September, Babson Diagnostics appointed former Siemens Healthineers executive to as the company’s new chief executive officer. Other competitors in the diagnostics market include Illumina, Qiagen, and Roche.

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

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

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