May 17, 2024

Weekly Recap 5/17/24: LSI Alumni Achievements Driving Medtech and Healthtech Forward

Weekly_Recap_24

This week in medical device news, the LSI alumni community continued its string of remarkable achievements, with over $28M in capital raised, FDA Breakthrough Device Designations, and major commercial milestones. These top medical device companies continue to pave the way to LSI Europe '24 in Sintra, Portugal this September. Let's delve into the latest updates from these alumni.

4C Medical Technologies 

4C Medical Technologies announced that it has been granted FDA Breakthrough Device Designation for its AltaValve transcatheter mitral valve replacement (TMVR) device for two indications. This TMVR device is distinct due to its atrial-only fixation, which aims to preserve the native mitral valve and left ventricle, thus minimizing the challenges associated with traditional TMVR technologies.

Accelus 

Accelus made headlines with the appointment of Chris McKee as Vice President of Regulatory & Quality. The company remains committed to delivering spinal innovations that enhance the surgical experience and improve patient outcomes, reinforcing its position among leading medical technology companies.

 

Adialante 

Adialante received a translational grant from The University of Minnesota Office of Discovery & Translation. Their mission is to make MRI scans more accessible by developing low-cost, silent, and compact MRI hardware designs, aiming to revolutionize the MRI landscape.

Distalmotion 

Distalmotion surpassed a significant milestone, completing over 1,000 successful procedures with its surgical robot, Dexter. Known for its compact and modular design, Dexter is easily shared across operating rooms and is suitable for a variety of hospital settings, including ambulatory centers and outpatient surgery facilities.

Hyperfine 

Hyperfine announced agreements with three distributors to support the commercial expansion of its Swoop system into European markets. Additionally, the company strengthened its management team by appointing Enrico Barini as the international business development director, signaling its strategic growth intentions.

 

JelikaLite 

JelikaLite published promising clinical trial results for its Cognilum™ device, which significantly improves symptoms of autism spectrum disorder (ASD) in children aged 2 to 6 years. The Cognilum™ device is a therapeutic wearable that uses transcranial photobiomodulation (tPBM) to deliver near-infrared light to the brain, showcasing innovative applications of new medical technology.

May Health

May Health successfully raised $25M in a Series B funding round co-led by Bpifrance and Trill Impact. The company focuses on helping individuals with polycystic ovary syndrome (PCOS) through its innovative Ovarian Rebalancing therapy, underlining its commitment to addressing endocrine disorders.

MexBrain 

MexBrain reported positive results from preclinical trials of its oral drug, DECoRP. This novel technology aims to remove free metals from the blood, combining dialysis and nanotechnology to restore metal homeostasis in patients with Acute Kidney Injury and Wilson's disease, representing a significant advancement in medical device development.

NovaResp 

NovaResp secured a $3M Seed extension round to support the clinical testing of its cMAP™ positive airway pressure system. By leveraging AI and machine learning, cMAP™ predicts and prevents sleep apnea episodes during PAP therapy, highlighting the integration of artificial intelligence in medical device startups.

Provisio Medical

Provisio Medical completed its first commercial clinical cases using the Provisio™ SLT IVUS™ System. This system uses sound to provide accurate measurements of blood flow lumen, assisting in clinical presentation, guiding treatment decisions, and confirming strategies for therapeutic endovascular devices.

ScreenPoint Medical

ScreenPoint Medical appointed Pieter Kroese as its new CEO. The company’s Transpara system, an AI-driven solution, enhances early breast cancer detection and diagnosis, furthering the impact of AI in the medical device industry.

Stay tuned for more updates as top medtech and healthtech companies like these continue to reach new heights. Whether it's securing new funding, achieving FDA milestones, or launching new products, emerging companies in the LSI alumni network are making strides in their mission to transform healthcare.