Medtech Startups: Blackrock Neurotech, Aptihealth, AppliedVR & more

Posted by Life Science Intelligence on Nov 23, 2021 1:51:46 PM
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Last week, medtech startups raised approximately $320.6M in funding across 13 deals, in addition to other undisclosed deals that were announced.

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Below are some of the top deals tracked over the past week:

 

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Top Deals – Medtech Fundraising Transactions for the Week

Company

Type

Amount Raised

Round

Geneoscopy

RNA-based diagnostic for cancer diagnosis

$105,000,000

Series B

Aptihealth

Mental health-focused telemedicine platform

$50,000,000

Series B

MedArrive

Telemedicine platform for emergency medical services

$25,000,000

Series A

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 innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:

 

Blackrock Neurotech is developing a brain-computer interface

Salt Lake City-based neurotech startup Blackrock neurotech is developing the NeuroPort array – a miniaturized brain-computer interface (BCI) for a wide range of applications. In November 2021, the company received Breakthrough Device Designation from the FDA for its BCI that enables immobile patients to operate certain electronics, prosthetics, and wheelchairs. Other indications that the company is evaluating include restoring vision and hearing, treating chronic pain, and reducing the impact of neurological conditions, such as Parkinson’s disease and stroke.

 Medtech Startups: Blackrock Neurotech, Aptihealth, Sense Biodetection, AppliedVR, Clarapath, Filterlex Medical

Aptihealth – telehealth platform focused on behavioral health

Aptihealth’s platform offers patients easy-to-access video therapy that focuses on personalized care plans and convenient video therapy appointments. Care coordination between mental healthcare professionals, physicians, and patients is all managed through the company’s digital platform. The company is focused on providing health plans and health systems with a seamless platform to expand mental health services available to patients. In November 2021, the company completed a Series B round which raised $50M. MDLive, Teladoc, and ZocDoc are some of the leading companies in the telemedicine and telehealth market.

 

Sense Biodetection closes Series B round, raises an additional $15M

The company markets an easy-to-use, affordable, disposable molecular diagnostic testing device that can be used at the point-of-care (POC). The recent investment will be used to support the commercialization of its Veros POC diagnostic. The company anticipates that they will obtain regulatory approval to begin commercialization of its Veros COVID-19 test in the US and EU in the near future. Following this extension in Series B financing, the company has now raised an estimated $82.5M in funding.

 

AppliedVR – VR-based digital therapeutic

AppliedVR’s platform uses immersive virtual reality (VR) programming to help patients change the way their mind processes pain and develop other positive habits to improve quality of life. The company’s EaseVRx solution recently became the first VR digital therapeutic to receive de novo approval from the FDA for the treatment of chronic lower back pain. Beyond the treatment of chronic pain, AppliedVR is evaluating digital solutions for the treatment of cancer related anxiety, rheumatoid arthritis pain, and post-surgical pain from total knee replacement. Last week, AppliedVR closed a Series B round which raised $36M, bringing the total amount of funding raised by the company to $71M.

 

Clarapath receives $16M in additional Series B funding

The investment follows a Series B round that Clarapath closed in April of this year, from which the company received $16M in funding. Clarapath, a robotics company developing an automated pathology system, will use the funding to develop and commercialize its SectionStar system. Clarapath’s SectionStar is a fully automated tissue sectioning and transfer system designed to minimize the need for skilled histopathologists and expediate sample analysis. The company plans to commercialize SectionStar in clinical (i.e. diagnostic) and non-clinical (i.e. pharmaceutical research) markets. Key strategics in the diagnostics market today include BD, Illumina, and Roche.  

 

Filterlex Medical raises $6M for embolic protection system

Filtelex is developing CAPTIS, a next-generation, full-body embolic protection device. CAPTIS is being designed to reduce the risk of stroke and other embolic complications during catheter-based structural heart procedures, such as transcatheter aortic valve implantation (TAVI). The company announced that the funds from the completed Series A round will support the ongoing first-in-human study of the CAPTIS device. With the close of this round, Filterlex Medical has raised a total of $12.3M in capital. Leading strategics in the structural heart devices market include Abbott, Edwards, and Medtronic.

 

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

Topics: Insider, Startup, Strategics, Medtech

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About the Author

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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