A daily newsletter summarizing recent activity & interesting startups globally
RECENT NOTABLE ACTIVITY – MEDICAL DEVICES
- Acutus Medical, developing technologies for the electrophysiology market, raises $75M in a Series C round led by Deerfield Management, Xeraya Capital and Advent Life Sciences. Link
- ImpediMed, a developer of bioimpedance spectroscopy technologies, raises $75M in an unattributed round. Link
- Proteus Digital Health, a developer of medical adherence monitoring system, raises $50M in an unattributed round. Link
- Quanterix, developing platform technology for single molecule analysis, raises $46M in a Series D round led by ARCH Overage Fund, Cormorant Asset Management and Trinitas Capital. Link
- RefleXion Medical, developing biology-guided radiotherapy system for cancer treatment, raises $46M in a Series B round led by KCK Group. Link
- Livongo Health, a developer of cloud connected glucose meter, raises $44.5M in a Series C round led by Merck Global Health Innovation Fund and Cowen Private Investments. Link
- G-Therapeutics, a developer implantable neurostimulation system (INS), raises €26M in a Series B round led by Gimv, Wellington Partners, LSP and Inkef Capital. Link
- Gauss Surgical, a developer of blood loss monitoring platform, raises $12.6M in a Series B round led by Providence Ventures. Link
- iSTAR Medical, a developer of ophthalmic implants from biomaterials, raises €10M in a Series B round led by Capricorn Venture Partners and Walloon Region Investment Fund. Link
- Fire1, a stealth mode spinout from medical device incubator The Foundry, raises $7.5M in a Series B round led by Medtronic. Link
- Touch Bionics, a developer of upper limb prosthetic solutions, was acquired by Össur, for $39 M on a debt and cash free basis. Link
- Transcatheter Technologies, a developer of implantable devices for heart valve repair and replacement, was acquired by Venus Medtech for an undisclosed amount. Link
SOME INTERESTING STARTUPS FOUND
MedicSen (2015, Madrid) – Developing an artificial pancreas system.
LEADER BOARD – MEDICAL DEVICES
THERAPEUTICS
Cardiovascular
TriVascular (1998, Santa Rosa, IPO) – Medical devices for endovascular aortic repair. Went public in 2014.
JenaValve (2006, Munich, $144M) – Transcatheter stents and delivery systems for transapical and transfemoral delivery. Backed by Atlas Venture, Edmond de Rothschild, NeoMed, Sunstone Capital, Gimv, Legend Capital, Omega Funds and Valiance.
Orthopedics
ConforMIS (2004, Bedford, IPO) – Personalized, partial knee resurfacing implants to treat knee osteoarthritis. Went public in 2015.
Small Bone Innovations (2009, Morrisville, $171M) – Suite of orthopedic products for small bones and joints. Backed by Trevi Health Ventures, Goldman Sachs, Malaysian Life Sciences Capital Fund, NGN Capital, Viscogliosi Brothers, Axiom Ventures, Khazanah Nasional Berhad, 3i Group.
Surgery
Auris Surgical Robots (2009, San Carlos, $184M) – Robotic microsurgical systems for ophthalmic surgery. Backed by NaviMed Capital, Lux Capital, Mithril Capital Management and Highland Capital Partners.
Medrobotics (2011, Raynham, $140M) – Robotic surgical devices for minimally invasive surgery. Backed by Hercules Technology Growth Capital and Pittsburgh Life Sciences Greenhouse.
Ophthalmology
TearScience (2005,
Avedro (2007, Waltham, $130M) – Corneal cross-linking technology. Backed by Interwest, OrbiMed Advisors, Prism Venture Management, DeNovo Ventures, Flagship Ventures, Aperture Venture Partners, SCP Vitalife Partners, Borealis Ventures, Abingworth, Third Point, and Prism Venture.
DIAGNOSTICS
Platform Technologies
Butterfly Network (2011, Guilford, $100M) – Medical imaging devices using a combination of deep learning and an ultrasonicdevice. Backed by Aeris Capital.
NinePoint Medical (2008, Bedford, $98M) – Optical coherence tomography based imaging system to perform volumetric laser endomicroscopy. Backed by Third Rock Ventures and Prospect Venture Partners.
Oncology
Impedimed (1999, Carlsbad, $88M) – Bioimpedance Spectroscopy technologies. Backed by Versant Venture Management, Starfish Ventures.
Veran Medical (2005, St.Louis, $66M) – Soft tissue navigation for diagnosis of lung cancer. Backed by Prolog Ventures, Versant Ventures, River Cities Capital Funds, Advantage Capital Partners, Rex Health Ventures, 3G Capital Partners and Vectis.
Infectious Disease
Accelerate Diagnostics (2004, Tucson, IPO) – In vitro diagnostics to provide solutions for the antibiotic resistant infections. Went public in 2013.
Atlas Genetics (2005, Bristol, $76M) – Platform for point-of-care testing for STDs to test for Hospital Acquired Infections. Backed by Novartis, Life Sciences Partners, BB Biotech Ventures, J&J Development Corporation, Consort Medical, YFM Private Equity, Rusnano MedInvest and Novartis Venture Fund.
MONITORING
Diabetes
Senseonics (1996, Germantown, $124M) – Implantable system for continuous glucose monitoring. Backed by NEA, HealthCare Ventures, Rho Capital Partners, Anthem Capital Management, Delphi Ventures and Greenspring Associates.
Intuity Medical (2002, SF, $120M) – Integrated all-in-one blood glucose monitoring system. Backed by Accuitive MedicalVentures, Emergent Medical Partners, Investor Growth Capital, U.S. Venture Partners, Venrock and Versant Ventures.
Cardiovascular
CardioMEMS (2001, Atlanta, $153M, Acq.) – Wireless sensor-based implants for cardiac monitoring. Acquired by St. Jude Medical in 2014.
iRhythm Technologies (2006, San Francisco, $96M) – Cardiac rhythm monitoring devices. Backed by Mohr Davidow Ventures, Synergy Life Science Partner, Novo A/S, Norwest Venture Partners, California HealthCare Foundation, Stanford University, Kaiser Permanente Ventures, New Leaf Venture Partners.
Vital Signs
Sotera Wireless (2004, San Diego, $68M) – In hospital patient monitoring device. Backed by Sanderling Ventures, Qualcomm Ventures, Intel Capital, EDB Investments, Safeguard, Delphi Ventures, Cerner Capital, West Health and Sanderling.
MC10 (2008, Cambridge, $61M) – Miniaturized embedded sensors for monitoring vital signs. Backed by North Bridge Venture Partners, BEV Capital, Osage University Partners, Terawatt Ventures, Medtronic, Braemar Energy Ventures, Aberdare Ventures and Windham Venture Partners.
PLATFORM TECHNOLOGIES
Mannkind Corporation (1991, LA, IPO) – Biopharma company focusing on the discovery, development, and commercialization of therapeutic products for diseases such as diabetes and cancer. Went public in 2004.
Intarcia Therapeutics (1997, Boston, $831M) – Osmotic pump for subcutaneous drug delivery. Backed by New Leaf Venture Partners, Venrock, New Enterprise Associates, RA Capital Management, Farallon Capital Management, Foresite Capital, Fred Alger Management, Quilvest Ventures, Alta Partners, GGV Capital, New Leaf Ventures, Quilvest and Omega Funds.
MEDICATION MANAGEMENT
Proteus Digital Health (2001, Redwood City, $404M) – Medical adherence monitoring system. Backed by Silicon Valley Bank, Oxford Finance Corporation, Asset Management Ventures, Oracle Corporation and Novartis.
CLINICAL EQUIPMENT
TransMedics (1998, Andover, $200M) – Organ transplantation technology. Backed by Excel VM, Tudor Funds, Flagship Ventures, Kleiner Perkins, Foundation Capital, Sherbrooke Partners LLC, Alta Partners, VantagePoint Capital Partners, i Group plc.
Inogen (2001, Goleta, $52M) – Portable Oxygen Concentrator for Oxygen Therapy. Backed by Versant Venture Management, Novo A/S, Avalon Ventures, Arboretum Ventures, Novo, Accuitive Medical Ventures.
SUPPORT SYSTEMS
Ekso Bionics (2005, Richmond, IPO) – Bionic exoskeleton for people with paralysis. Went public in 2014.
BionX Medical (2007, Bedford, $75M) – Prosthetic device to aid movement of lower-limb amputees. Backed by Sigma Partners, General Catalyst, WFD Ventures and Gilde Healthcare.
Leaderboard includes all the top funded, IPO and successfully running bootstrapped companies along with their location, founding year and funding amount.
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