Medtech Startups: CorWave, Stimit, Ablacon, Avisi Technologies & more
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
CorWave raises $42.8M in Series C round
The company is developing a left ventricular assist device using proprietary wave membrane technology. The technology mimics the physiological flow of blood produced by the native heart. Funds from the round will be used to finalize product development, initiate the process of building manufacturing infrastructure, and initiate clinical testing for regulatory approval. Abbott, LivaNova, and Medtronic are key strategics in the ventricular assist devices market.
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Stimit – a noninvasive approach to restoring respiration
The company is developing a noninvasive device that can be used to stimulate natural contractions of the diaphragm in ICU patients. As an alternative to ventilation systems which force air into the lungs, Stimit’s technology will allow patients to breathe naturally and keep their diaphragm muscles active and strong. Stimulation of the diaphragm is also being investigated as a treatment for central sleep apnea. Stimit is a Hemex portfolio company.
Ablacon – real-time visualization of the heart’s activity to efficiently treat AFib
The Ablamap system is a novel technique to visualization action potential within the hearts of patients with atrial fibrillation. By precisely mapping the origin of the irregular action potential, interventionalists can reliably and precisely treat AF. The company recently announced that it had raised $30M in capital from a Series B financing round. Ablacon will utilize the funds to drive commercialization of the CE Marked technology. According to the company, the technology will become available in the US in 2021.
Avisi Technologies is developing an aqueous shunt enabled by nanotechnology
The VisiPlate shunt is being developed for treatment of open-angle glaucoma. Avisi’s shunt uses an ultrathin nanoplate to remove excess fluid from the interior of the eye. The device, which is 20x thinner than a human hair, is made of non-fibrotic materials and features a multichannel design to sustain intraocular pressure control over time. Johnson & Johnson and Nova Eye Medical are the major competitors in the aqueous shunt market.
Volta Medical raises $28M for its AI atrial fibrillation technology
The company’s flagship product is VX1, a real-time analysis algorithm that uses artificial intelligence to assist interventionalists during cardiac ablation procedures. Volta will use the funds to initiate commercialization of their technology in the US and Europe, as well as continue R&D. To-date the company has raised approximately $31M in capital. Key competitors in the electrophysiology market include AtriCure, Biosense Webster (J&J), and Boston Scientific.
PreComb Therapeutics is personalizing cancer treatment with real-time drug efficacy testing
Using a patient’s cells, PreComb Therapeutics diagnostic allows for direct testing of cancer drug efficacy. The technology allows healthcare providers to select the most effective and well-tolerated therapy for their patients. Biocartis, Foundation Medicine, and Myriad Genetics are some of the key competitors in the personalized medicine market.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
