Medtech Startups: ExsoMed, iotaMotion, BIOMODEX, & more
LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.
ExsoMed - Minimally invasive orthopedic solutions to improve surgical outcomes
The company develops orthopedic fixation devices (i.e. screws) for hand surgery. ExsoMed’s three products are commercialized. Early September, the company received FDA clearance for its Four Corner Fusion system for wrist arthritis. ExsoMed plans to sell this asset to keep the company “focused on our market-differentiating, sterile-packed, single-use business model.” Other strategics in the orthopedics market include J&J, Smith & Nephew, and Zimmer-Biomet.
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Precision robotics platform for cochlear implant insertion from iotaMotion
Iota-Soft is a robotic-assisted insertion device that allows surgeons to precisely advance cochlear implant electrodes to protect internal anatomy and prevent damage from manual insertion. iotaMotion recently received a grant from the NIH worth $1.7M, bringing the total funds raised by the startup to $8.4M.
BIOMODEX – 3D printing anatomically realistic organs for medical education and patient-specific preoperative planning
The company’s 3D printed models are intended to help reduce medical errors by allowing surgeons to plan and train for operations on realistic models, rather than patients. BIOMODEX’s technology is capable of mimicking organic textures and different human tissues using a multi-material 3D printing system. To-date, BIOMODEX has raised approximately $19M.
VitalConnect – at-home monitoring with clinical-grade measurements
VitalConnect’s real-time patient monitoring platform allows healthcare providers to continuously monitor their patients in and out of the hospital. In the COVID-19 era, health systems can free up critical resources without compromising patient monitoring. VitalConnect has raised approximately $86.7M. Livongo, Philips, and Spry Health are some of the key competitors in the remote patient monitoring market.
Kerecis raises $21M to support expansion of its wound and tissue regeneration platform
The funds will help Kerecis bring its wound and tissue healing products to the US. Kerecis’ products are developed from fish skin and fatty acids, which require less processing than other tissue-based wound management products and help to maintain the natural components of the grafted tissue. Major competitors in the wound management products market include 3M, Cardinal Health, and Integra LifeSciences.
Atia Vision is developing a modular intraocular lens for the correction of presbyopia
The device mimics the natural ability of the eye to provide a full range of vision without common visual side effects. Atia Vision’s technology is currently in the early clinical stage as a treatment for cataract patients. The company has raised approximately $35M to-date, with its most recent fundraising round closed in May 2019. Key competitors in the ophthalmology market include Alcon, Bausch & Lomb, and Lenstec.
Biorez completes seed round raising $3.5M
Biorez is developing BioBrace, a biocomposite biologic scaffold for ACL surgery that will fully resorb after the healing process has completed. To-date, the company has raised approximately $26M to support the development of its proprietary platform. Key strategics in the orthopedics and sports medicine market include Arthrex, Medtronic, and Stryker.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
