Medtech Startups: Gauss Surgical, Swift Health Systems, RareCyte, & more

Posted by Life Science Intelligence on Sep 14, 2021 11:16:42 AM
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LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.

This week in medtech deals approximately $146M in funding was raised across 4 deals, in addition to other undisclosed deals that were announced. Approximately 70% of the funding deals tracked this week are attributed to a Series G round closed by Swift Health Systems.

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

Swift Health Systems

Discrete orthodontic correction system

$102,000,000

Series D

RareCyte

Rare single cell blood analysis platform

$24,000,000

Series G

Nectero Medical

Endovascular aneurysm stabilization platform

$19,500,000

Series C

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:

Gauss Surgical acquired by Stryker

Gauss Surgical commercializes the Triton System, an image-based real-time monitoring system for blood loss during surgery. The FDA 510(k) platform integrates artificial intelligence (AI) into an application that is iPhone compatible to acquire images of sponges and canisters to estimate blood loss during surgical procedures, particularly in the labor and delivery procedures. The amount of the acquisition was not disclosed.

Medtech Startups: Gauss Surgical, Swift Health Systems, Lyra Therapeutics, RareCyte, contextflow, AMF Medical

Swift Health Systems closes $102M Series D round

Swift Medical Systems, also known as InBrace, has developed a discrete teeth-straightening technology that can be personalized to each patient’s orthodontic needs. InBrace’s Smartwire device is installed behind the teeth using a series of loops that apply gentle, continuous force to move a patient’s teeth into the correct position. In September 2021, the company announced that it had completed a Series D round that raised $102M. Direct-to-consumer dental startups, such as Byte and SmileDirectClub, have generated massive amounts of attention in recent years due. Byte was acquired by Dentsply Sirona for $1B in 2020. SmileDirectClub, which raised $400M in funding, is now valued at $9B.

 

Lyra Therapeutics – drug delivery scaffold for chronic rhinosinusitis

Lyra Therapeutics is a clinical-stage company developing its proprietary XTreo platform, a drug delivery platform for diseases of the ear, nose, and throat. The XTreo platform consists of a biocompatible mesh scaffold that dynamically adapts to target anatomy to precisely deliver sustained medications for up to 6 months. Lyra’s pipeline consists of two corticosteroid candidates for patients who have and have not undergone sinus surgery for chronic rhinosinusitis, respectively. The company recently published outcomes data supporting the use of the XTREO platform for the treatment of chronic rhinosinusitis.

 

RareCyte raises $24M for rare cell analysis platform

The funding will be used to accelerate the development of new applications for the company’s Orion spatial biology platform and support existing global commercialization efforts. RareCyte specializes in multiplexed analysis of cells and tissue for clinical and research diagnostics using the company’s Orion platform. The company offers an end-to-end platform for the analysis of rare, single cells from whole blood samples or fresh, frozen tissue. Applications for the company’s platform include infectious disease, maternal-fetal health, and immuno-oncology. The strategic landscape for molecular diagnostics includes key players such as BD, Danaher, and Roche Diagnostics.

 

contextflow is using AI to improve the radiology workflow

The company is developing software-based solutions powered by AI to improve the clinical workflow of radiologists. contextflow’s lead product is a 3D image-based search engine called SEARCH, which compares CT & MRI images to a database of images to identify 19 different disease patterns. In September 2021, contextflow announced the closing of a $8M Series A funding round. Funds from the round will be used to obtain FDA clearance for SEARCH in the US, as well as support commercialization in Europe and the US. Arterys, Philips, and Nanox are key strategics in the advanced image analysis market.

 

AMF Medical is developing a next-gen insulin pump system

AMF Medical’s Sigi is a patch-based insulin pump that is designed to simplify insulin delivery. The components of the Sigi platform include a patch with a flexible cannula that is applied to the skin for up to three days. The pump is attached to the patch to deliver insulin via prefilled cartridges. The bubble-free pumping mechanism eliminates the need for warming insulin or filling reservoirs via a syringe. The Swiss-based company has raised approximately $12.6M in funding to date. Major competitors in the insulin management market include Abbott, Dexcom, 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, 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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