A daily newsletter summarizing recent activity & interesting startups globally
RECENT NOTABLE ACTIVITY – MEDICAL DEVICES
- Abbott received FDA approval for its FreeStyle Libre Pro continuous glucose monitoring system. Link
- Medtronic received FDA approval for its MiniMed 670G hybrid closed looped system. Link
- Edwards Lifesciences received CE mark approval for its Sapien 3 TAVR to cover aortic stenosis patients at intermediate risk for open-heart surgery. Link
- ViewRay received CE Mark approval for its MRIdian Linac next-gen linear accelerator-based MRI-guided radiation therapy system. Link
- Obalon Therapeutics registered for an IPO worth $75M and received PMA from the FDA for its ingestible, gas-filled weight-loss balloon. Link
- Allergan received FDA approval for its Natrelle Inspira cohesive breast implants for women undergoing breast reconstruction, augmentation or revision surgery. Link
- GI-View received FDA 510(k) clearance for its Aer-O-Scope colonoscopy device. Link
- Johnson & Johnson to acquire Abbott’s eye surgery unit for $4.33B. Link
- ConvaTec plans to raise about $1.8B in an initial public offering on the London Stock Exchange. Link
- Terumo is reportedly eyeing a $1.5B deal for Abbott‘s cardiovascular device business. Link
- Intarcia Therapeutics, a developer of drug delivery system for the treatment of type 2 diabetes, raised $215M in a funding round led by institutional investors and existing investors. Link
- Chrono Therapeutics, a developer of transdermal nicotine replacement therapy for smoking cessation, raised $48M in a Series B round led by Kaiser Permanente. Link
- T2 Biosystems, a developer of diagnostic products to improve patient health, raised $40M funding from Canon in a private placement. Link
- Spineart, a developer of orthopedic implants and instruments, raised €30M in a funding round from Gimv. Link
SOME INTERESTING STARTUPS FOUND
Theranica (2016, Netanya) – Develops chip-based wearable patch for neuromodulation therapy.
NIMD (2015, Jerusalem) – Develops noninvasive microwave heating technology for cancer treatment.
LEADER BOARD – MEDICAL DEVICES
THERAPEUTICS
Cardiovascular
TriVascular (1998, Santa Rosa, IPO) – Medical devices for endovascular aortic repair. Went public in 2014.
CVRx (2001, Minneapolis, $390M) – Implantable technology for hypertension and heart failure. Backed by DaVita Healthcare Partners, Piper Jaffray, Ysios Capital, JJDC, InterWest Partners, Silicon Valley Bank, SightLine Partners, NEA, Kearny Venture Partners, Frazier Healthcare Partners, ABS Ventures.
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, Morrisville, $151M) – Diagnosis and Treatment of Evaporative Dry Eye. Backed by Spray Venture Partners, Essex Woodlands Health Ventures, eneralcatalyst.com, HealthCare Royalty Partners, Investor Growth Capital, DeNovo Ventures and Quaker BioVentures.
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
Neusoft Medical System (1998, Shenyang, $410M) – Medical imaging device and software developer. Backed by China Everbright Group AG, Goldman Sachs, Hony Capital.
Butterfly Network (2011, Guilford, $100M) – Medical imaging devices usin
Oncology
Veran Medical (2005, St.Louis, $83M) – 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.
SuperDimension (1995, Minneapo
Infectious Disease
Accelerate Diagnostics (2004, Tucson, IPO) – In vitro diagnostics to provide solutions for the antibiotic resistant infections. Went public in 2013.
Curetis (2007, Holzgerlingen, $85M) – Molecular diagnostics POC device for infectious diseases. Backed by Forbion, KfW Bankengruppe, HBM Partners, BioMedPartners, CD-Venture GmbH, Roche, Qiagen, Life Sciences Partners, Aeris Capital.
MONITORING
Diabetes
OptiScan Biomedical (1994, Hayward, $156M) – Glucose monitoring systems for ICUs/CCUs. Backed by yet2Ventures, Mitsui, Medven, Lightstone Ventures, Oakwood Medical, Ascension Ventures, NGN Capital, Signet Healthcare Partners, Mitsui, Hercules Technology Growth Capital, Prism Venture, EGS Healthcare Capital Partners, Morgenthaler.
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.
Cardiovascular
CardioMEMS (2001, Atlanta, $153M, Acq.) – Wireless sensor-based implants for cardiac monitoring. Acquired by St. Jude Medical in 2014.
iRhythm Technologies (2006, SF, $95M) – 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 and New Leaf Ventures.
Vital Signs
EarlySense (2004, Ramat Gan, $85M) – Contact free patient monitoring solution. Backed by Noaber, Bridge Investment Fund, Samsung Venture Investment Corporation, Docor, ProSeed, Pitango VC, Israel, Mitsui & Co, JK&B Capital, Bank Hapoalim, Welch Allyn, Challenge.
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.
CLINICAL EQUIPMENT
TransMedics (1998, Andover, $264M) – Organ transplantation technology. Backed by Tudor Funds, Abrams Capital, Flagship Ventures, Kleiner Perkins, Foundation Capital, Sagamore, Hercules Technology Growth Capital, Alta Partners, Sherbrooke Capital, VantagePoint Capital Partners and i Group plc.
Caesarea Medical Electronics (
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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