Medtech Startups: Harmonic Bionics, UltraSight, Elucid, & more

Posted by Life Science Intelligence on May 17, 2021 11:25:20 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 over $293.5 million in funding was raised across eight deals, in addition to a number of other undisclosed deals that were announced. Here are some of the top deals tracked:

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Top Deals – Medtech Fundraising Transactions for the Week

Company

Type

Amount Raised

Round

Cue Health

At-home diagnostic testing platform

$235,000,000

Private Funding

Heartbeat Health

Telehealth platform for cardiology

$20,000,000

Series B

UltraSight

Cardiac ultrasound platform

$13,000,000

Series B

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:

Harmonic Bionics – empowering patients with movement disorders through robotics

Harmonic Bionics is developing robotic exoskeletons to improve the lives of individuals suffering from movement impairments due to neurological and musculoskeletal disorders. Harmonics’ flagship product is the Harmony SHR system, a bilateral, upper-extremity exoskeleton. The company recently closed $7M in funding from a Series A round in early May 2021. Funds from the round will support clinical research and scaling of product development for the company’s Harmony SHR system. Key competitors in the robotic exoskeleton market include Ekso Bionics, Fourier, and ReWalk Robotics.

Medtech Startups: Harmonic Bionics, Ultrasight, Elucid, Vivos Therapeutics, NuShores Bioscience, Mitre Medical

UltraSight raises $13M from Series B round

According to a press release from the company, the investment will be used to support US clinical trials for its guidance platform. UltraSight is developing an artificial intelligence-powered solution to democratize point-of-care cardiac sonography. Traditionally, cardiac sonography requires routine practice for the clinician to maintain proficiency. UltraSight’s platform utilizes machine learning to automatically guide clinicians, regardless of experience through the cardiac sonography process. GE Healthcare, Mindray, and Philips are key strategics developing solutions for the cardiac ultrasound market.

 

Elucid – predictive image analysis software for future risk of major cardiovascular events

Boston-based Elucid is developing ElucidVivo, an FDA-cleared arterial analysis software solution. The non-invasive test allows clinicians to evaluate key biomarkers to stratify a patient’s risk of major adverse cardiovascular events (e.g. stroke), plan for procedure, and track response to the selected therapeutic approach. ElucidVivo integrates with DICOM images, pathology images, and eCRF solutions. The company recently raised $8M from a Series A round, bringing total funds raised to date to approximately $19.4M.

 

Vivos Therapeutics – a non-pharmaceutical treatment for obstructive sleep apnea

Vivos Therapeutics has developed the Vivos System, a biomimetic device, similar to a dental retainer, worn during sleep to reshape the upper airway over a 12 to 24 month period. The Vivos System is FDA cleared for the treatment of mild-to-moderate obstructive sleep apnea (OSA), snoring, and sleep-disordered breathing. The company’s technology differs from traditional management options for OSA, including CPAP and surgical implants, in that the Vivos System cures the cause of OSA. Vivos Therapeutics has gone public (NASDAQ:VVOS) and has raised approximately $24M in post-IPO equity.

 

NuShores Biosciences is developing solutions for bone and tissue regeneration

NuShores Biosciences was formed to commercialize regenerative technologies developed at the University of Arkansas at Little Rock. The company’s lead product, NuCress, is a scaffold-based platform embedded with small amounts of hydroxyapatite (HA) and demineralized bone matrix (DMB). NuCress addresses the limitations of current solutions for major bone injuries by promoting the healing of large segmental bone breaks (>2.5cm). The company has raised approximately $9M in grant research funding to date. The regenerative biomaterials market strategic landscape includes key competitors such as Cerapedics, Mesoblast, and Zimmer Biomet.

 

Mitre Medical is developing a less invasive surgical solution for mitral valve regurgitation

The company’s Mitral Touch epicardial ring eliminates the need for patients to be on treated without the use of a heart-lung machine (cardiopulmonary bypass). The device is placed around the external surface of the heart to reduce mitral regurgitation (MR) in patients with moderate-to-severe MR. In addition to eliminating the need for cardiopulmonary bypass, the Mitral Touch device enables surgeons to visually confirm MR reduction on a beating heart. Abbott, Edwards Lifesciences, and Medtronic are key strategics developing solutions for the treatment of TMVR.

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

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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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