Published on Dec 28, 2020
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Cimon Medical is developing ultrasound technology for continuous blood flow monitoring
The company’s first product, NeoDoppler, is being developed to monitor and reduce the risk of neurodevelopmental damage in neonates. The company is currently working with manufacturing partners to achieve a launch in Q4 2021. In December 2020, Cimon Medical raised $7M in capital from a Series A round. Key strategics in the ultrasound market include GE Healthcare, Philips, and Siemens.
TYBR Health – a novel hydrogel to improve post-surgery outcomes
The proprietary hydrogel used in the company’s TYBR spray reduces adhesions (internal scarring) that are a serious cause of complications after surgery. Using a simple and easy to steer device, interventionists can administer TYBR spray to improve the healing response of tissue. TYBR Health recently completed its first round of seed funding, closing the round out with $710,000 in funding. Major strategics in the wound management market include 3M, Baxter, and Integra LifeSciences.
Ilara Health raises $3.8M for its cost-effective POC diagnostics
The company’s technology is intended to be utilized in low-income countries to provide rapid and affordable testing to patients. Funds from the round will be used to expand access to the company’s technology throughout Africa, as well as to develop an integrated patient health management platform for the technology. Abbott, BD, and Quidel are some of the key strategics in the point-of-care testing market.
Carlsmed is personalizing spinal implants using AI and 3D printing
Carlsmed develops, designs, and 3D prints patient specific spinal implants using its aprevo platform. The technology allows surgeons to eliminate the trial-and-error process of selecting spinal implants by scanning and customizing the spinal implant to the patient’s anatomy. In December 2020, the company raised $10M in a Series A round funded by four investors. To-date, the company has raised approximately $14.5M in capital.
SomaLogic raises $81M in Series A round
SomaLogic’s proprietary SomaScan platform measures thousands of protein biomarkers from a single sample of blood. The proteomic platform broadly, deeply, and rapidly measures proteins to evaluate an individual’s wellbeing. The company’s platform has a range of applications in the treatment of cardiovascular disease, metabolic diseases, and rare genetic diseases. With the close of this Series A round, SomaLogic has raised approximately $581.5M in funding. Illumina, Qiagen, and Roche are some of the key strategics in the molecular diagnostics’ market.
MedHub-AI is developing a decision support system for interventional cardiologists
MedHub-AI’s Autocath is an artificial intelligence-powered decision support system that analyzes fractional flow reserve (FFR) images to determine the severity of arterial stenoses and recommend the most appropriate revascularization strategy. To-date the company has raised approximately $2.7M, having recently received a $670,000 grant in December 2020. Key strategics with FFR imaging devices include Boston Scientific, OPSENS Medical, and Philips.
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