Published on Dec 28, 2021
Last week, medtech startups raised approximately $144M in funding across 6 deals, in addition to other undisclosed deals that were announced. 69.4% of the funding tracked this is attributed to a $100M Series E round closed by Vero Biotechnology.
Below are some of the top deals tracked over the past week:
Top Deals – Medtech Fundraising Transactions for the Week
Nitric oxide delivery products
Precision molecular diagnostics equipment
Biotechnology for organ preservation & regenerative medicine
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:
Vero Biotechnology closes $100M Series E funding round
Vero Biotechnology develops and markets GENOSYL DS, a tankless inhaled nitric oxide (NO) delivery system for the treatment of patients with cardiovascular and pulmonary diseases. The device is indicated for the dilation of blood vessels in neonates experiencing severe pulmonary hypertension. The advantage of the GENOSYL system simplifies the clinical workflow and eliminates the need for hospital systems to manage NO tanks. The $100M investment brings Vero Biotechnology’s total funding to an estimated $205M. According to Vero, the investment will support the commercialization of GENOSYL DS.
Keyron – implantable devices for the treatment of obesity and diabetes
London-based Keyron is developing two implantable medical devices that build upon the successes of current bariatric procedures, without the drawbacks. The devices will be implantable through an endoscopic procedure that mimics common bariatric procedures, such as gastric bypass and sleeve gastrectomy. Apollo Endosurgery, Reshape Lifesciences (EnteroMedics), and Johnson & Johnson are leading competitors in the bariatric surgery market.
Rhaeos raises $2.2M from oversubscribed Seed round
The investment will be used to support the commercial launch of the company’s first product, FlowSense, in 2022. The FlowSense platform is a wireless, non-invasive sensor to monitor thermal flow to monitor cerebrospinal fluid in patients with hydrocephalus with shunts. The device is intended to reduce the amount of imaging and other costs associated with managing patients with implanted shunts. Rhaeos has raised over $8M in funding to date. Key strategics in the neurological shunts market include B. Braun, Integra LifeSciences, and Medtronic.
Skinive is using artificial intelligence to assess skin conditions
Skinive’s has developed an artificial intelligence (AI) algorithm that harnesses real time ComputerVision imaging and physician experience to assess skin conditions from patient uploaded images. The application serves as a second opinion for dermatologists, in addition to allowing patients to perform regular skin examinations from home to monitor the risk of blemishes, freckles, and moles. Skinive recently raised $283,000 from a December 2021 Pre-Seed round, bringing the company’s total funding to $566,000. Other startups utilizing AI to support dermatologists include Kahu, PathologyWatch, and Vita Imaging.
Invent Medical – respiratory care devices for home and healthcare settings
Invent Medical designs, manufactures, and commercializes respiratory care devices for patients suffering from respiratory distress and limited oxygen saturation. The HFT 150 is a portable, high flow oxygen therapy system that allows for independent control of oxygen flow, temperature, and fraction of inspired oxygen (FiO2). In response to the COVID-19 pandemic, Invent Medical received Emergency Use Authorization (EUA) in October 2020 to sell the HFT 150. The device is also intended to reduce the maintenance and cleaning associated with conventional devices, allowing the device to be rapidly deployed in high utilization scenarios. In December 2021, the company raised $258,000 in Seed funding.
KelaHealth – proactively predicting patient complication risks during surgery
The average rate of surgical complications per year is approximately 15%, which translates to nearly 8 million complications in the US alone. KelaHealth has developed a cloud-based software-as-a-service (SaaS) that offers providers, surgeons, and hospital systems patient specific insights and recommendations for interventions to reduce surgical complications and the costs associated with them. At the heart of the company’s platform is an AI algorithm that assesses individual patient risks across nine major complication categories. The company has raised $2.9M in total funding, with an additional $10M investment available to the company linked to milestone achievements.
Life Science Intelligence is proud to announce that KelaHealth will be a presenting company at the Emerging Medtech Summit in March 2022.
Learn more about these medtech startups and other innovative funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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