Published on Oct 26, 2020
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Diality – bringing dialysis into the patient’s home
Diality is developing a portable home hemodialysis machine intended to help improve the quality of life of patient’s with kidney disease. The company’s product is currently pending CE Mark in the EU and FDA clearance in the US. Diality has raised $30.5M in capital as of October 2020. Key strategics in the hemodialysis market include Baxter, Fresenius, and Nipro.
Articulate Labs is using neuromuscular stimulation to enhance patient rehabilitation
Texas-based startup Articulate Labs is developing KneeStim, a brace-like wearable device that uses neuromuscular electrical stimulation (NMES) device that can be used to enhance a patient’s rehabilitation. The difference between KneeStim and other NMES is that the company’s device can be used throughout the patient’s day-to-day activities, regardless of whether they are stationary or mobile. To-date the company has raised $545,000 from a Seed round.
Cue Health receives $481M investment from the US Department of Health and Human Services
The funds will be used to support domestic product of the company’s POC COVID-19 test kits. In addition to COVID-19 testing kits, Cue Health is developing diagnostic tests for a range of conditions, including respiratory health, influenza, and women’s health. Major competitors in the diagnostic testing solutions marker include BD, Illumina, and LabCorp.
Neuromod Devices is developing a neurostimulation solution for tinnitus
The company offers Lenire, a CE-marked solution for the treatment of tinnitus. The Lenire device uses trigeminal nerve stimulation paired with auditory stimuli to treat individuals with tinnitus. Neuromod Devices recently completed a Series B round in which the company raised $12.5M in capital, which brings total funds raised by the company to date to $30.3M.
Ilara Health are developing cost-effective POC diagnostics
Ilara’s affordable diagnostics are intended for use in countries that struggle to access diagnostic solutions for infectious disease, non-communicable diseases, and prenatal health. In October 2020, Ilara Health received a grant from the Bill & Melinda Gates Foundation. Key strategics in the point-of-care diagnostics market include Abbott, Qiagen, and Roche.
Minnetronix Medical receives a National Institutes of Health grant for spinal fluid treatment technology
Minnetronix Medical, which develops numerous medtech solutions, received a grant from the NIH to study its proprietary Neurapheresis platform. The Neurapheresis platform removes cytotoxic byproducts and blood cells from cerebrospinal fluid. In addition to its Neurapheresis platform, the company partners with medtech companies to support the development and manufacture of medical technologies. The company specializes in numerous areas, including Fluid & Gas Management, Optical systems, radiofrequency energy (i.e. ablation), and stimulation and wearable devices.
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