Medtech Startups: ProVerum, BrainSpace, Chronus Health & more

Posted by Life Science Intelligence on Jan 20, 2022 12:03:23 PM
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Last week, medtech startups raised approximately $82.6M in funding across 6 deals, in addition to other undisclosed deals that were announced. 

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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

ProVerum Medical

Implant for the treatment of symptomatic BPH

$34,000,000

Series A

Chronus Health

Portable, point-of-care diagnostic system

$22,000,000

Series A

Aulisa

Continuous monitoring solutions for patient vitals

$13,000,000

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:

 

ProVerum Medical receives $34M Series A investment

ProVerum is developing alternatives to pharmaceutical therapy for the treatment of symptomatic benign prostatic hyperplasia (BPH). The company’s first product, ProVee, is a self-expanding implant designed to reduce symptoms in patients with symptomatic BPH. ProVee distinguishes itself from other surgical treatments for BPH as an outpatient procedure which can be performed under local anesthesia in approximately 5 minutes. The ProVee device is delivered via a low-profile system similar to endoscopes which are routinely used to diagnose BPH. The Series A investment will be used to fund clinical studies to obtain regulatory approval in the US and Europe. Key strategics in the BPH treatment market include Boston Scientific, Olympus, and Teleflex.

 Medtech Startup Tracker: ProVerum Medical, BrainSpace, Chronus Health, GrayMatters Health, Aulisa, Bluegrass Vascular Technologies

BrainSpace is simplifying care of neurocritical patients

External ventricular drains (EVDs) are commonly used in neurocritical patients to reduce pressure on the brain and preserve brain function. However, these devices are extremely time-consuming for nurses and healthcare professionals to manage – often requiring constant supervision to prevent injury to the patient. BrainSpace's mission is to develop solutions to improve the management of patients recovering from stroke, traumatic brain injury, and neurosurgery. 

 

Chronus Health raises $22M in Series A funding

The investment will allow Chronus to increase its data science, engineering, and research teams, as well as fund product and technology development. Chronus is developing a truly portable point-of-care diagnostic that acquires lab results within minutes using common blood panels. The company’s system will purportedly be a low-cost, compact system that utilizes microfluidic and semiconductor technologies to enable rapid results in multiple clinical settings. Major strategics in the diagnostic testing market include Abbott, BD, and Roche.

 

GrayMatters Health – digital therapeutics for mental health disorders

The digital therapeutics company is using electroencephalogram (EEG) neurofeedback to train patients to regulate patient-specific biomarkers for the treatment of mental health conditions. A patient specific biomarker for training is developed using a combination of functional MRI and EEG data that is analyzed using the company’s proprietary machine learning model. GrayMatters is initially developing its technology for the treatment of post-traumatic stress disorder. Other conditions that the company is exploring for its Prism technology include major depression disorder, borderline personality disorder, and ADHD. The company has raised $13.5M to date, having recently completed a Series A investment of $10M in January 2022.

 

Aulisa closes Series A round, raises $13M

According to Aulisa, the funds will be used to scale the company’s sales and marketing efforts to support continued growth of the business. Aulisa develops FDA-cleared systems that continuously measure vital signs. The company is focused on analyzing data from vital signs to provide early detection and alerts of health incidents. Aulisa’s Guardian Angel system is a wireless, wearable platform that has been adapted for local (i.e. within clinical settings) and remote use. The Guardian Angel platform is available in configurations for infant, pediatric, and adult use.

 

Bluegrass Vascular Technologies – innovating vascular access procedures

The company’s lead product, Surfacer, allows physicians to perform the Inside-Out procedure to obtain right-sided central venous access as an alternative to using femoral catheter access to establish permanent arteriovenous access in patients requiring the placement of a central venous catheter. The device is designed to facilitate central venous access in patients with venous obstruction. The Surfacer system has received De Novo clearance from the US FDA and the CE mark in Europe.   Bluegrass is partnered with Merit Medical to distribute its Surfacer system in Europe and North America.

Life Science Intelligence is proud to announce Bluegrass Vascular Technologies & BrainSpace will be presenting companies at the Emerging Medtech Summit in March 2022.

 

Learn more about these medtech startups and other innovative funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.

Topics: Insider, Startup, 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