Published on Nov 23, 2020
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
Subtle Medical raises $12.2M in Series A round
Subtle Medical develop solutions to improve medical imaging using artificial intelligence. The company’s proprietary algorithms are currently being applied to the FDA-cleared SubtlePET for AI-analysis of PET images and SubtleMR platform for the analysis MRI images. Competitors in the AI medical image analysis market include Arterys, Behold.ai, and Zebra Medical Vision.Common Sensing is developing smart devices to improve drug delivery
The flagship product from the company, Gocap, is a portable dose sensing device that utilizes a smart cap to transmit drug-delivery data from disposable pen-injectors to an application. The technology is intended to help healthcare providers improve care delivery and monitor patient compliance. The company has raised $13.9M to-date. Key strategics include Eli Lilly, Novo Nordisk, and Ypsomed.
Decibel Therapeutics is using a comprehensive drug discovery and research platform to protect and restore hearing
The company researches the genomic components of hearing disorders to develop multi-modality approaches to treat balance disorders and hearing loss. The biotechnology company is actively engaged in advancing 6 programs consisting of gene replacement treatments, regenerative therapies, and therapeutic agents. In November, the company completed a Series D round in which the company raised $82M. To-date, the company has raised approximately $189M.
Clinical trial optimization platform developer, Medable, raises $91M
Medable has developed a modular platform that improves the clinical trial experience, from reducing enrollment and recruitment times, maintaining patient engagement, and the capture and analysis of clinical trial data. The platform digitizes the clinical trial process to improve patient access to effective therapies and drive innovation. In November, the company completed its largest funding round to-date – a $91M Series C round. This latest round brings the total funds raised by the company to approximately $124.6M.
Evanostics – developing rapid point-of-care diagnostics for multiple indications
Evanostics diagnostic platform is designed to detect multiple antigens and produce lab-quality results within 15 minutes. The platform requires only a small sample of blood or saliva to perform respiratory health (e.g. COVID-19) and drug testing. Evanostics completed its first round of funding in November, a Seed round worth $600,000. Some of the key strategics in the point-of-care diagnostics market include Abbott, Qiagen, and Roche.
AliveCor completes Series E round valued at $65M
According to a company press release, the funds will be used to accelerate domestic and international growth of the company’s remote cardiology platform. AliveCor’s FDA-cleared KardiaMobile device is a cost-effective, portable EKG system capable of conducting a medical-grade EKG in 30 seconds. The closing of this most recent fundraising rounds brings the total funds raised to-date by the company to approximately $154.3M. Major strategics for this market include Draeger, Medtronic, and Omron.
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