Medtech Startups: Synchron, Endostart, Beta Bionics, & more

Posted by Life Science Intelligence on Jun 14, 2021 9:22:27 AM
Find me on:

LSI's Medtech Startup Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.

This week in medtech deals an estimated over $297.6 million in funding was raised across 10 deals, in addition to a number of other undisclosed deals that were announced. Here are some of the top deals tracked:

Start a Free Trial to Medtech Startup Tracker Today

Top Deals – Medtech Fundraising Transactions for the Week

Company

Type

Amount Raised

Round

Synchron

Neurostimulation device for limb paralysis

$40,000,000

Series B

ZenFlow

Implant for BPH treatment

$24,000,000

Series B

EndoStart

Lumbar spinal stabilization system

$10,000,000

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:

Synchron raises $40M for implantable neural device

Synchron, a clinical stage company, develops implantable neural interface technology that can be delivered via a catheter. The Stentrode device has received breakthrough device designation from the FDA for the treatment of limb paralysis. The neuroprosthesis converts thoughts into wireless Bluetooth commands to enable the use of common electronic devices. The investment, which was led by Khosla Ventures, will support ongoing clinical trials intended to obtain FDA approval for the company’s flagship product.

LSI Medtech Startup Tracker includes Synchron, Endostart, preCARDIA, Abiomed, Beta Bionics, Zenflow, & Empirical Spine

Endostart is developing solutions to simplify gastrointestinal endoscopy

The Italian-based startup goal is to reduce the difficulty of performing complex endoscopic surgeries. To do so, the company has developed Endorail, a proprietary Magnetic Balloon Anchoring Technology (MBAT) that anchors and guides endoscopes through the loops of the GI tract. The company has acquired the CE mark for the Endorail system and is currently seeking approval for the device outside of Europe. To date Endostart has raised $11M in funding, having recently raised $9.9M from a Series B round in early June 2021. There are over 75 million endoscopies performed annually in the US – of which 68% of these procedures could benefit from the use of Endostart’s technology.

preCARDIA acquired by Abiomed

Founded in 2017, preCARDIA is the developer of a minimally invasive, catheter-based system to reduce congestion in the venous system in patients with acutely decompensated heart failure (ADHF). In June 2020, preCARDIA received Breakthrough Device designation from the FDA. The strategic acquisition compliments supports Abiomed’s existing products for improving and restoring blood flow in patients suffering from heart failure. Details of the acquisition were not disclosed at the time of the announcement.

Beta Bionics – a fully automated bionic pancreas

Beta Bionics’ iLet system is a wearable medical device that autonomously regulates glucose in patients with diabetes or other metabolic disorders. The iLet bionic pancreas combines continuous glucose monitoring, pump technology, and adaptive algorithms to maintain glycemic control. A key value proposition of the iLet system is the easy-to-use user interface that eliminates many of the tedious tasks that diabetes patient must typically perform to manage their disease. The company has raised approximately $132M in funding to date. Key strategics in the diabetes devices market include DexCom, Insulet, and Medtronic.

Zenflow – an atraumatic device for the treatment of benign prostatic hyperplasia

ZenFlow is developing an atraumatic, superelastic implant for the treatment of benign prostatic hyperplasia (BPH). The company’s Spring implant is composed of shape-memory material that props open the prostatic urethra. According to the company’s current clinical data, the Spring system is already demonstrating to be safe, effective, and durable after at least 2 years. The company recently raised $24M from a Series B round. Funds from the round will finance a pivotal clinical trial to obtain FDA clearance for the Spring system. There are numerous treatments available to men who develop BPH, including implant, energy-based, and pharmacological solutions. Lumenis, OmniGuide, and Teleflex are some of the key strategics that commercialize device-based solutions for the treatment of BPH.

Empirical Spine – developing a spinal stabilization system for degenerative disc disease

The company is developing LimiFlex, a spinal stabilization system that restores range of motion in patient with degenerative spondylolisthesis and lumbar stenosis. According to Empirical, this condition results in more than 100,000 surgeries per year in the US. The LimiFlex Paraspinous Tension Band is being developed as an alternative to spinal fusion. In June 2021, Empirical raised $10M from a Series B round. Key strategics that develop solutions for the spinal surgery market include DePuy Synthes, NuVasive, and Zimmer Biomet.

Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.

Topics: Insider, Startup, Strategics, Medtech, Surgical Procedure Volumes, Medtech Innovation Weekly Update

Stay connected with our latest posts:

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