Published on May 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 over $214 million in funding was raised across five deals, in addition to a number of other undisclosed deals that were announced. Here are some of the top deals tracked:
Virtual care platform
Non-invasive brain stimulation technology
Robotic exoskeleton solutions
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 privately-held innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:Humacyte is developing a novel vascular scaffold for blood vessel repair and replacement
The company is developing an off-the-shelf solution, non-immunogenic vascular scaffold seeded with cryopreserved human aortic vascular cells. These human acellular vessels (HAVs) are being evaluated to address unmet clinical needs for the repair, reconstruction, and replacement of blood vessels. In April 2021, the company raised $50M, increasing total funds raised to date to $517.9M. The strategic landscape of regenerative vessels and grafts includes Getinge, Terumo, and WL Gore.
OnLume – fluorescence guided surgical system to improve surgical outcomes
In April 2021, the company completed a Series A round which raised approximately $7M. OnLume will use the funds from the round to assist with the commercialization of its FDA-cleared fluorescence-guided surgery (FGS) system. OnLume’s FGS system allows surgeons to identify and assess the function of anatomy during surgical procedures that are typically not visible to the naked eye. Furthermore, FGS reduces the medical team and patient exposure to ionizing radiation. OnLume is researching the use of its FGS system for the identification of residual diseased tissue (i.e. tumor margin assessment) in cancer surgery. To date, OnLume has raised approximately $10.7M in capital.
Glytec insulin management software for personalized insulin treatment regimens
The FDA-cleared platform utilizes proprietary algorithms and titration software to personalize insulin treatment recommendations for the management of insulin dosing for inpatients with and without diabetes. The platform uses real-time and historical data to learn a patient’s insulin sensitive and predict future need. In April 2021, the company raised $21M in funding, which will be used to invest in research and development of its eGlycemic Management System.
Lumen – a handheld device for metabolic monitoring
Lumen has developed and commercializes a consumer-friendly, portable device for the measurement of metabolism. The Lumen device uses a CO2 sensor and flow meter to measure the concentration of CO2 in the users breath. The company’s technology has been favorably compared and shown to be as accurate as the gold standard, known as respiratory exchange ratio (RER), for measuring metabolism. Strategics in the metabolic monitoring market include Cosmed and KORR Medical Technologies.
Neuroelectrics closes $17.5M Series A round
According to the company, the funds from the round will be used for the development of its non-invasive Starstim system. The Starstim system a wireless, transcranial electrical (tES) brain stimulation and monitoring system. The system can be used for the treatment of depression, fibromyalgia, neuropathic pain, addiction, and epilepsy. In addition to the Starstim platform, Neuroelectrics has developed Enobio, a high precision EEG monitoring system that can be integrated into application for brain research.
Renerva – next generation surgical solutions and regenerative biomaterials
Renerva is a startup focused on developing solutions for the treatment of peripheral nerve injuries. The company’s first solution, peripheral nerve matrix (PNM), is an injectable gel developed from porcine tissue that is to be used as an adjunct treatment for acute nerve injuries. Future indications for the PNM platform include the treatment of chronic compressive nerve injuries and direct, image-guided delivery of PNM to damaged nerves. Renerva has raised approximately $3M in funding between a US DoD grant and Seed round.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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