Published on Jul 21, 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 an over $492M in funding was raised across 12 deals, in addition to several other undisclosed deals that were announced. Here are some of the top deals tracked:
Top Deals – Medtech Fundraising Transactions for the Week
Interventional solutions for vascular diseases
Ventricular restoration system
AI image analysis platform
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:
Imperative Care raises $260M & acquires Truvic Medical
On July 15, 2021, Imperative Care announced that it closed a Series D round for $260M and acquired peripheral thrombectomy device developer Truvic Medical. Funds from the round will support commercialization of Imperative Care’s portfolio of interventional solutions for the treatment of stroke. The company noted that the acquisition is part of Imperative Care’s plan to create a strategic network of synergistic subsidiaries focused on developing solutions for the vascular intervention. While Imperative Care currently has two FDA-cleared products, Truvic Medical is developing a peripheral thrombectomy system that will eliminate the need for thrombolytics and facilitate single-session thrombus removal. Key strategics in the vascular interventions market include Boston Scientific, Integra LifeSciences, and Penumbra.
Omniscient Neurotechnology – using AI to support enhance neurological care
Australian-based startup Omniscient Neurotechnology is utilizing big data and artificial intelligence to support neurosurgery and neurological research. The company offers two products – Infinitome and Quicktome. Infinitome is a research platform that converts raw MRI images into functional network Maps. Quicktome is a surgical support platform that provides surgeons with patient-specific brain maps to enable surgeons to effectively operate on the brain and prevent lasting damage. Omniscient recently closed a Series B round on July 12th, from which the company raised $29.7M. Artificial intelligence has become an increasingly important tool for providers, particularly with regards to the analysis of medical images.
Swift Medical – digitizing wound care
Swift Medical has developed a non-invasive, virtual wound management platform. The platform connected over 2,000 wound care doctors and nurses from throughout the US to enable collaborations with other specialists and consultations for patients. Swift Medical also offers the FDA-registered HealX adhesive – a small adhesive that automatically calibrates photos for color, lighting, and size. As telemedicine adoption has soared as a result of the COVID-19 pandemic, Swift Medical’s virtual wound platform has allowed healthcare providers to manage vulnerable chronic wound patients remotely. On July 15th, the company announced that it had completed a Series B investment round which raised approximately $34.9M. To-date, the company has raised approximately $48.3M in capital.
IntuiTap raises $5.5M for spinal tap positioning system
The investment will be used to take IntuiTap’s technology through a pivotal clinical trial and the FDA submission process. IntuiTap is developing VerTouch, a guidance system which simplifies the spinal tap procedure for physicians and reduces the guesswork associated with how spinal taps are traditionally performed (via tactile, blind insertion). VerTouch can be utilized bedside, boasts a >90% single-insertion success rate, and reduces the need for radiological intervention. The completion of this latest round of funding brings the total amount raised by IntuiTap to $6.3M.
AccurKardia – an artificial intelligence-powered platform for the early detection of arrhythmias
AccurKardia is utilizing artificial intelligence to give providers clinical-grade analytics that will enable the early detection and diagnosis of arrhythmias. According to the company, the platform will be device agnostic and will support automated detection and diagnosis for ambulatory, in-patient telemetry, and consumer ECG devices. The company has completed three Seed rounds, with the most recent round close on July 13, 2021. As the prevalence of arrhythmia increases in proportion with the growing elderly population, easy-to-use solutions for the detection and diagnostic will become an essential tool to slow the progression of this chronic condition. Acutus Medical, BardyDx, and Welch Allyn are key competitors in the arrhythmia management market.
Dopavision is developing a digital therapeutic for the treatment of pediatric myopia
The company is developing a gamified treatment for myopia in children. The solution, known as MyopiaX, combines a smartphone-based application and a virtual reality headset to deliver targeted light stimulus to certain cells in the retina. Stimulation of these cells has been shown to slow the progression of myopia. Therapy through the MyopiaX application can be personalized by healthcare providers to deliver more precise treatment. Dopavision has raised an estimated $1.5M in funding from investors at Boehringer Ingelheim and Novartis.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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