Published on Nov 9, 2020
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Neuros Medical is raising $42.8M in equity
Currently the company has completed the sale of $37M in equity from 24 investors. Neuros Medical is a developer of proprietary neuromodulation technology for the treatment of chronic pain. Neuros’ Altius System uses an implantable generator to deliver electrical signals in the peripheral nervous system to block pain signals. Major competitors in the neuromodulation market include Abbott, Boston Scientific, and LivaNova.
Robocath and MicroPort Scientific initiate a joint venture partnership
According to Robocath, the partnership will allow for the commercialization of the company’s R-One robotic-assisted platform in China. The R-One system is design to assist with percutaneous coronary intervention procedures. To date, Robocath has raised approximately $61.1M in capital. Intuitive Surgical, Medtronic, and Stryker are some of the key strategics in the robotic surgery market.
Koa Health is developing digital health solutions for the management of mental health
The company is currently developing four digital health solutions for specific mental health conditions. These solutions use evidence-based activities and practical tools designed by mental health experts to help individuals manage their wellbeing. In November 2020, Koa Health completed a Series A round valued at approximately $16.5M. Other competitors in the digital health market include Livongo, Omron, and Pear Therapeutics.
Contraline – an implantable solution for male contraception
Contraline is developing ADAM, a hydrogel device that is implanted via a minimally invasive procedure and can be easily reversed. In October 2020, Contraline completed a Series A round valued at approximately $6M. With the completion of this recent fundraising round, the company has raised an estimated $11.9M. Bimek SLV is one of the few competitors in the male contraceptive device market.
Nurami Medical raises $6M to support regulatory approval for its nanofiber soft tissue repair technology
The recently completed Series B round will finance ongoing clinical trials for the company’s flagship product, ArtiFascia. Nurami Medical uses electrospun nanofiber scaffolds to create a biodegradable scaffold ideal for tissue engineering and regeneration. Key strategics in the advanced wound care market include 3M, Johnson & Johnson, and Smith & Nephew.
Mesa Biotech receives BARDA grant to develop a rapid COVID/flu test
The Biomedical Advanced Research and Development Authority (BARDA) granted Mesa Biotech a $13M grant to support the development of its molecular diagnostic platform. Mesa Biotech’s Accula system has received FDA Emergency Use Authorization for SARS-CoV-2. Illumina, Qiagen, and Roche are some of the key strategics in the molecular diagnostics market.
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