Published on Aug 10, 2021
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
This week in medtech deals approximately $124.5M in funding was raised across 4 deals, in addition to other undisclosed deals that were announced. This represents a significant decrease in weekly medtech fundraising when compared to last week’s $446.1M. Here are some of the top deals tracked:
Top Deals – Medtech Fundraising Transactions for the Week
Diagnostic testing for early cancer detection
Drug-delivery platform for ophthalmic disease treatment
Left atrial appendage closure device
Top deals for the week are based on publicly available information. At this time of this article’s publication, new deals for the week may have been announced.
LSI's Medtech Startup Tracker is focused exclusively on covering the innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:
Eyevensys raises $12M from Series B round
The investment, which was led by Korea Investment Partners, will be used to accelerate the development of the company’s drug/delivery platform for treating wet age-related macular degeneration and to initiate programs targeting retinitis pigmentosa and geographic atrophy. Eyevensys develops an electrotransfection system that delivers DNA plasmids to the ciliary muscle (i.e. rear of the eye) where therapeutic protein production can occur. Having closed this recent round of funding, Eyevensys has raised a total of $52.1M in capital. Major strategics in the therapeutic ophthalmology market include Allergan, Bayer, and Novartis.
Respira Labs is developing a continuous monitoring solution for COPD
Chronic obstructive pulmonary disorders (COPD) affects nearly 30 million Americans. While significantly impacting quality of life, severe episodes of COPD (exacerbations) can result in patients visiting the emergency room or requiring hospitalization. In order to identify the early warning signs of exacerbations and improve management of COPD, Respira Labs is developing a wearable device that measures air trapping, an important market of COPD progression and COPD exacerbations. By identifying increasing air trappings earlier, preventative measures can be implemented to reduce hospitalizations and improve patient quality of life.
C. Light Technologies – understanding neurological health using retinal tracking and AILight has developed a benchtop eye-tracking device that is powered by machine learning algorithms that analyzes eye movement at the cellular level. The extremely accurate eye motion monitoring allows providers to measure neurological activity and assess neurological degeneration. The company is currently evaluating their platform for monitoring the progression of multiple sclerosis. In August 2021, the company announced that it received an investment from the Alzheimer’s Drug Discovery Foundation to begin evaluating the feasibility of the company’s technology for identifying early signs of Alzheimer’s disease in the eye.
Append Medical closes $7.4M Series A Round
Append Medical is developing a next-generation left atrial appendage (LAA) closure system that distinguishes itself from current solutions which leave behind metal implants following closure of the LAA. The non-metal device avoids device-related thromboembolism and can be delivered through a simple procedure that achieves complete LAA closure. According to the company, the funds from the round will allow the company to complete product development and initiate its first clinical trial. AtriCure and Boston Scientific are key strategics in the left atrial appendage management market.
SleepCogni is using cognitive behavioral therapy to treat sleep disorders
The company is combining a Software as a Service (Saas) and a handheld device to help people struggling with insomnia and restlessness. The device uses continuous monitoring and haptic feedback to break cognitive cycles that prevent sleep. Biofeedback is personalized by the company’s software platform using the data collected through continuous monitoring of the handheld device. SleepCogni recently raised $708,600 through crowdfunding platform, CrowdCube, which brings the total amount raised to date by the company to an estimated $2.2M.
Stelect – improving stent selection via ultrasound
Inaccurate stent selection has significant repercussions for patients and providers. Currently stent size is determined under angiographic imagery, which limits the amount of data available to interventional cardiologists. To address this limitation and provide interventional cardiologists with more information, Stelect is developing a pre-stent balloon catheter that features ultrasound sensors that generate 3D visualizations of blocked vessels. Visualization captured by the company’s device is interactive, and offers clinicians detailed information about blockage measurements and morphology to guide stent size selection. Key strategics in the percutaneous coronary intervention market include Abbott, Boston Scientific, and Philips.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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