Published on Dec 14, 2020
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Pear Therapeutics raises $80M in Series D round
Pear Therapeutics develops prescription digital therapeutics for the treatment of opioid use and substance use disorder. The company recently received FDA clearance for a third digital therapeutic for the treatment of chronic insomnia. According to a press release from the company, funds from the round will be invested in the commercialization of these three digital therapeutics, including the acceleration of reimbursement coverage.
Attest Laboratories – non-invasive point-of-care-testing
The company’s myScan Lab uses magnetic resonance spectroscopy (MRS) to rapidly test for small molecule metabolites, without the need for an invasive measurement (e.g. blood glucose stick testing). Applications for the diagnostic include diabetes screening, monitoring of kidney function, and sepsis diagnosis and detection. The benchtop device is designed with a unique magnet array to enable a portable form factor that does not compromise measurement sensitivity. Abbott, BD, and Quidel are some of the key strategics in the point-of-care diagnostics market.
Noctrix Health – therapeutic wearables for chronic medical conditions
Noctrix Health’s mission is to develop the next generation of wearables that are intended to be an alternative to pharmaceuticals for patients and providers. These wearable devices will provide patients with an efficacious and cost-effective means to manage their chronic medical conditions. Since its founding in September 2018, the company has completed two funding rounds which have raised an undisclosed amount of capital. One of the company’s key supporters is global medtech company LivaNova.
Freespira raises $10M for its panic disorder & PTSD digital therapeutic
The company, formerly known as Palo Alto Health Sciences, is the maker of the first FDA-cleared digital therapeutic for the management of symptoms associated with panic attacks, panic disorder, and post-traumatic stress disorder. The Freespira digital therapeutic can reduce or eliminate symptoms within a month by training users to manage respiratory irregularities associated with panic attacks, panic disorder, and PTSD. Other players in the digital therapeutics market include Omada Health, Kaia Health, and Click Therapeutics.
PONS is developing a cost-effective ultrasound for use outside of traditional healthcare locations
The company intends for the device to be used in locations such as pharmacies, the home, or in the field. As a pre-diagnostic, the device will help reduce the number of patients being taken to a hospital for less severe injuries and identify patients requiring more substantiative medical attention. The mobile ultrasound platform is being developed for the imaging of brain and spine injuries. Key strategics in the ultrasound market include GE Healthcare, Philips, and Siemens.
Brainsgate is using electrical stimulation to develop a novel treatment for ischemic stroke patients
The company has developed a miniature electrical implant, called the ISS, which is implanted at the roof of the mouth via a minimally invasive procedure. The device uses stimulates the Spheno-Palatine Ganglion (SPG), which has been shown to increase cerebral blood flow. In December 2020, the company raised $14M. To-date, the company has raised approximately $99M. Some key investors in the company include Boston Scientific and Johnson & Johnson.
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