Published on Apr 5, 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 estimated $253M in funding was raised across seven deals, in addition to a number of other undisclosed deals that were announced. Here are some of the top deals tracked:
Top Deals – Medtech Fundraising Transactions for the Week
Augmented reality for surgery navigation
Devices for the treatment of arrhythmias & cardiovascular diseases
Non-invasive brain disorder treatment
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 privately-held innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:
Vibrant – an ingestible solution for chronic constipation
Once ingested the device vibrates to stimulate the colon. The stimulation from the Vibrant capsule causes a natural evacuation method to treat constipation by mimicking peristalsis. Vibrant’s device is a more natural and controlled alternative to medication for the treatment of constipation, which In March 2021, Vibrant raised $7.5M from a Series E round. Funds from the round will be used to support bringing the device to market in the US. To-date Vibrant has raised approximately $25M.
Inflammatix closes Series D round for $102M
Funds from the round will be used to support the commercialization and development of the company’s molecular diagnostics portfolio. Inflammatix’s flagship sample-to-answer platform, Myrna, provides point-of-care results in under 30 minutes. The initial test for the platform is focused on identifying the presence, type, and severity of sepsis. In response to the COVID-19 pandemic, the company is developing a severity test for COVID-19. Key strategics in the molecular diagnostics market include BD, Illumina, and Roche.
Augmedics raises $36M in over-subscribed Series C round
The company will use the funds to drive commercialization and support the development of new products. In addition to R&D and commercialization, Augmedics plans to expand indications for use and obtain the CE mark in Europe for its augmented reality (AR) guidance system. Augmedics’ xvision system gives surgeons “X-ray” vision, allowing them to precisely navigate instruments and see the patient’s anatomy through skin and tissue. Currently the xvision system has obtained FDA clearance for use in spinal procedures. The company aims to expand indications for use beyond spinal surgery.
Audioptics Medical is dedicated to improving diagnostics for the otolaryngology
Audioptics Medical is developing its lead product, Ossiview, to help ear specialists visualize and characterize middle ear pathology. According to the company, the Ossiview system is capable of rendering 3D images of the middle ear in a higher resolution than computed tomography images. The benefits of the system include that the device is compact, does not use ionizing radiation, and is non-invasiveness. In April 2021, the company raised $1.9M from a seed round lead by Carl Zeiss and Innovacorp. Hill Rom, Welch Allyn, and Widex are some of the key strategics in this market.
Bendit – proprietary bending technology for vascular catheters
Vascular interventions, particularly in the brain, are incredibly time sensitive. To improve the speed at which doctors can treat, Bendit is developing novel catheters and microcatheters that can easily bend and navigate tortuous vasculature. The company has already received FDA 510(k)-clearance for its steerable microcatheter for use in diagnostic and therapeutic peripheral vasculature procedures. Bendit is also developing novel catheters for use in interventional cardiology and neuroradiology. Since its founding in 2013, Bendit has raised approximately $5.6M in capital. Abbott, Boston Scientific, and Merit Medical Systems are some of the key strategics in the steerable and interventional catheters market.
Kamedi – a hyperthermic device for the treatment of insect bites
German-based startup Kamedi has developed a small, energy-based device to relieve the pain and discomfort caused by insect bites. The heat_it device plugs in to the charging port of Android and Apple smartphones. Treatment is controlled and guided by a smartphone application to apply heat briefly to the nerves in the skin. The treatment temporarily disrupts the transmission of the signals associated with pain and discomfort. Kamedi’s heat_it device is a convenient and chemical-free alternative to ointments which are commonly used to provide relief from insect bites.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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