Medtech Startups: Nephrodite, ForSight Robotics, Sana Health, & more

Posted by Life Science Intelligence on Mar 15, 2021 9:23:58 AM
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The second week of March saw a decrease in fundraising activity for medtech startups. An estimated $98M in funding was raised in the second week of March across seven deals. Here are some of the top deals tracked:

Top Deals – Medtech Fundraising Transactions for the Week

Company

Type

Amount Raised

Round

CorVista

 

Cardiovascular diagnostic system

$65,000,000

Series C

Halo Diagnostics

 

Cancer diagnostics company

$19,000,000

Series A

ForSight Robotics

 

Microsurgery robotic system

$10,000,000

Seed

LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:

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Nephrodite is developing a next-generation dialysis device to improve quality of life for patients on dialysis

The Holly is Nephrodite’s fully implantable continuous dialysis device. The company’s technology will ideally eliminate the need for “in-center” dialysis, which will decrease the annual costs of managing dialysis patients and improve their quality of life. The Holly system is still in the development stage, but Nephrodite states that they have cleared several hurdles in development that prove that their device can clear waste products from blood and prevent blood clotting. Key strategics in the dialysis market include Baxter, Fresenius, and Nipro. 

Nephrodite is a presenting company at Life Science Intelligence’s 2021 Emerging Medtech Summit.

LSI Startup Tracker includes: next-gen dialysis device, microsurgery robotic system, wearables, spinal fusion, non-invasive point-of-care device, & more.

ForSight Robotics raises $10M in Seed round

The company is developing a microsurgery robotic system for ophthalmic surgery. The system will be capable of performing complex surgical operations to prevent loss of vision and blindness in eligible patients. The team at Foresight Robotics is driven to address the need for access to top-tier medical techniques throughout the world. The technology will be particularly valuable in the field of ophthalmology, where the number of ophthalmic surgeons per million people continues to dwindle in both affluent and low-income countries.

Sana Health is utilizing audio visual stimulation to manage pain and fatigue

Sana Health has developed a wearable device that delivers coordinated pulses and light and sound that guide a user towards a more relaxed state of mind. The effect of this stimulation has been shown to resemble the effects of long-term mediation practices by increasing the balance between the left and right side of the user’s brain. Sana’s device is extremely portable – consisting of a mask (which resembles a virtual reality headset) and headphones. The mask features aa heart rate variability sensor, which is key to measuring the user’s state of relaxation and influences the device’s neurofeedback algorithm. To-date, the company has raised an estimated $12.6M in funding.

Sana Health is a presenting company at Life Science Intelligence’s 2021 Emerging Medtech Summit.

ZygoFix – achieving spinal fusion without the need for screws

In March 2021, the company completed a Seed round of fundraising for $2M. According to ZygoFix, the investment will be utilized to conduct clinical trials, further research and development, and fund regulatory clearance. ZygoFix is developing zLOCK, a proprietary, miniature, screwless implant for spinal fusion. The technology is being developed as a replacement to screw stabilization, which is the current gold standard for spinal fusion. Aesculap, Globus Medical, and NuVasive are some of the key strategics in the spinal solutions market.

CorVista Health raises $65M in Series C fundraising

Funds from the round will stimulate research and development and commercialization efforts for the companies CorVista System. The company is developing a non-invasive point-of-care diagnostic device that utilizes machine learning to rapidly diagnose and treat patients with cardiovascular disease. The technology is being developed as an alternative to contrast agents, injections, and radiation which are currently required to diagnose and monitor more severe forms of cardiovascular disease. Key strategics in the cardiovascular diagnostic devices market include GE Healthcare, Philips, and Welch Allyn.

Nucryo Vascular – cryoplasty for the treatment of peripheral vessels

The company commercializes the PolarCath Peripheral Dilation System, which combines familiar balloon angioplasty with nitrous oxide. A nitrous oxide cartridge inflates the balloon in the diseased vessel, cooling the balloon to -10 C. The addition of cryotherapy to traditional angioplasty allows interventional cardiologists to reduce dissections, restenosis, and recoil and simultaneously dilate the targeted vessel in a uniform fashion. The leading strategics in the interventional cardiology market are Abbott, Boston Scientific, and Medtronic.

Nucryo Vascular is a presenting company at Life Science Intelligence’s 2021 Emerging Medtech Summit.

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 Venture Capital, 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