Medtech Start-Ups: DeepSpin, Biodirection, CVRx, Positrigo, & more

Posted by Life Science Intelligence on Aug 13, 2020 8:15:00 AM
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LSI's Medtech Start-Up Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.  

MRI innovators DeepSpin complete Seed Round to fund development of its helium-free system

The July Seed round was valued at $679,000. DeepSpin’s MRI system is being touted as being cost-effective, portable, and helium-free. The German-based company enters a market with many key strategics, including Canon, Philips, and Siemens Healthineers, among others.

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A point-of-care solution for the diagnosis and monitoring brain injury is in development at Biodirection

In 2019, the company received a Breakthrough Device Designation for its Tbit System. The point-of-care diagnostic is capable of detecting protein biomarkers associated with head trauma within 90 seconds. To-date, the company has raised$35.6M. Other competitors with solutions for the diagnosis of traumatic brain injury include ABCDx, BrainScope, and Natus Medical.

MRI, Barostim Therapy, & Early Detection Dementia Startups in Medtech

CVRx raises $50M in recent venture round to facilitate commercialization of Barostim NEO in the US

The company’s Barostim NEO device is an implantable neuromodulation device for the treatment of heart failure and hypertension. The device was approved by the FDA in August 2019. As of this latest round, the company has raised $390.6M. The larger neuromodulation market is dominated by major medtech companies, including Abbott, Boston Scientific, and Medtronic.

Positrigo is developing an affordable PET scanner with a small footprint

In a recent Series A round, the company raised $4.2M to support the development of its next-generation positron emission tomography system. The system will initially be focused on providing accessible early detection for dementia. Key strategics in the diagnostic imaging market include GE Healthcare, Philips, and Siemens Healthineers.

LumiThera raises $14M to support pursuing US regulatory approval for its Valeda System

Valeda is a photobiomodulation treatment for dry Age-related Macular Degeneration (AMD). The device has been granted the CE Mark. To-date, the company has raised $29.8M. Other competitors include Pixium Vision and Vielight, in addition to the pharmaceutical companies developing and marketing drugs for the treatment of dry AMD. 

Artificial intelligence pathology platform developer Paige AI continues to expand its business 

Having recently completed a Series B round worth $70M, the company will utilize the capital to continue clinical investigations, hiring, and seeking partnerships with biopharmaceutical companies. The AI-powered platform provides pathologists with a digital pathology ecosystem to improve the diagnosis and treatment of cancer. With the completion of this most recent round, the company has raised over $95M.

SpeechVive is developing an assistive device to help Parkinson’s patient communicate more effectively

The company recently raised $1.5M to assist with the scaling of their business. SpeechVive’s technology fits behind a patient’s ear and stimulates clearer and louder speech through a reflex known as the Lombard Effect. Neuromodulation devices are recognized as alternative treatment for the management of symptoms and disabilities associated with Parkinson’s disease.

Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Start-Up Tracker.

Topics: Startup, Strategics, Medtech, Medtech Innovation Weekly Update, Medtech Unicorn

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Life Science Intelligence (LSI) helps medtech executives make better strategic decisions by delivering unique market data and business insights. For over 13 years LSI has been working with industry giants – Johnson & Johnson, Medtronic, Abbott, Stryker, Cardinal, Boston Scientific, and Becton Dickinson, among others. LSI products are also leveraged by the most successful start-ups, innovators, investors, and service companies that compete in medtech. LSI is the organizer of The Emerging Medtech Summit held annually in Southern California.

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