Medtech Startups: Lark, X-trodes, Oshi Health & more

Posted by Life Science Intelligence on Oct 19, 2021 12:32:38 PM
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For the last week in medtech deals approximately $181.6M in funding was raised across 10 deals, in addition to other undisclosed deals that were announced. 55% of this week’s funding is attributable to a $100M Series D round closed by Lark.

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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

Lark

Digital health platform for chronic disease management

$100,000,000

Series D

Oshi Health

Telehealth platform for digestive conditions

$23,000,000

Series A

OneProjects

4D cardiac imaging platform

$17,000,000

Grant + 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:

Lark announces $100M Series D investment

The Mountain View digital health startup will use the investment to support research & development for its chronic disease management platform and expand integration of its platform with additional payers. Lark’s disease management platform utilizes artificial intelligence (AI) to personalize cognitive behavioral therapy to empower patients to manage and/or prevent diabetes and hypertension. To date, the company’s digital health platform has been used by nearly 2 million people. The excitement and interest in digital health startups refuses to dissipate. Last week, Twin Health, another digital health startup using data to create personalized therapies for chronic disease management, closed a $140M Series C round.

Medtechstartup.10.19.21LI 

X-trodes is developing wearable technology for electrophysiological monitoring

X-trodes' Smart Skin platform uses a dry, multi-electrode array system and wireless technology to capture electrophysiological data during everyday activity. The company’s proprietary technology has been implemented into two products – a medical-grade sleep monitoring system and a flexible wearable for muscle recovery in athletes. In October 2021, the company raised $4.5M from a seed funding round.

 

Oshi Health raises $23M from Series A round

Oshi Health is a specialty virtual clinic dedicated to helping people manage their gastroenterology (GI) conditions. The platform offers users 24/7 access to a team of health coaches and care coordinators, in addition to dietitians and mental health professionals. Oshi Health’s mission is to offer users a holistic, integrated care team approach to diagnose and manage GI disease. The October investment will be used to help Oshi scale is platform. Top competitors in the telemedicine market include Doctor On Demand, MDLive, and Teladoc Health.

 

Imbed Biosciences – imbedding bioactive into next-gen wound care solutions

Imbed Biosciences is a biotechnology startup with a portfolio of products to prevent infections in complex wounds. The company’s lead product, Microlyte, is an ultrathin hydrogel sheet that contains gallium and silver to kill bacteria within the wound bed. The dressing is designed to overcome a key problem with traditional wound dressings, stiffness, which allows some bacteria to thrive within fissures and bumps found in wounds. The company received a Commercialization Readiness Pilot grant from the National Institutes of Health in October 2021. Key strategics in the wound management solutions market include 3M, Baxter, and Smith & Nephew.

 

Synaps Dx completes $10M Series A round

According to Synaps, the investment will be used to scale-up production for the company’s diagnostic test, DISCERN. Synaps’ DISCERN is an autopsy-validated test to diagnose Alzheimer’s disease with 95% certainty. DISCERN tests for the presence of 3 biomarkers unique to Alzheimer’s disease to help physicians rule out the presence of the disease versus other forms neurodegenerative diseases, such as dementia. The test only requires a small skin sample to be performed. Biomarker-based methods for diagnosing Alzheimer’s disease are still limited; however, diagnostic testing is emerging as another resource available to clinicians to help them identify the disease earlier and initiate preventative treatment measures to preserve cognitive function.

 

Intelligent Implants receives $5.2M European Innovation Council grant

The company is developing smart implants which incorporate electrotherapeutics to stimulate the healing process of bone and tissue in patients undergoing spinal surgery. In addition to improving the recovery process, Intelligent Implants SmartFuse technology will allow physicians to remotely monitor the post-operative recovery process. This grant will support the continued research and development of the company’s SmartFuse platform. DePuy Synthes, Medtronic, and NuVasive are some of the key strategics in the spinal surgery market.

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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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.

Contact LSI here, via phone 714 847 3540, or email info@lsintel.com