Medtech Startups: Trice Medical, Nutromics, Venstra Medical, & more

Posted by Life Science Intelligence on Aug 31, 2021 11:00:22 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 approximately $110M in funding was raised across 9 deals, in addition to other undisclosed deals that were announced. This represents a slight uptick in total weekly fundraising after 3 weeks of declining volumes. The majority of the fundraising for the week was attributable to startups in the digital health sector.

 

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

Better Therapeutics

Prescription digital therapeutics

$50,000,000

Debt Facility

Seer Medical

Epilepsy monitoring and management system

$25,000,000

Series A

Recuro Health

Holistic digital health platform

$15,000,000

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:

 

Trice Medical closes Series D round and partners with Bioventus

The company received a strategic investment for an undisclosed amount from Bioventus. As part of the investment, Bioventus has obtained exclusive sales and distribution rights to Trice Medical’s products outside of the US. Trice Medical is focused on the development and commercialization of minimally invasive orthopedic imaging solutions, including it’s single-use arthroscope mi-eye 3, mi-ultra ultrasound system, and Seg-WAY endoscopic release system. In addition to the undisclosed Series D investment, Trice Medical has raised $60.9M in total funding.

 Medtech Startup Tracker: Trice Medical, Nutromics, Venstra Medical, Revolve Surgical, Better Therapeutics, Abtrace

Nutromics raises $4.2M for continuous molecular monitoring platform

The investment will allow Nutromics to start manufacturing and begin its first-in-human clinical trial for the company’s biosensor platform. According to Nutromics, the wearable device will provide clinicians and patients with real-time molecular-level insights for multiple biomarkers. Nutromics initial focus for their technology will be the therapeutic drug monitoring for vancomycin for the prevention of acute kidney injury complications. With the completion of this recent fundraising round, Nutromics has raised an estimated $7.1M in capital.

 

Venstra Medical raises $2M in Seed funding

Venstra Medical is developing a catheter-based heart pump to provide cardiac support to patients in need of cardiopulmonary support. According to Venstra Medical, the temporary device will allow cardiologists to provide patients in need of cardiac support a treatment option that does not require surgical intervention. Hemodynamic support systems that are commercially available today include percutaneous cardiopulmonary bypass (pCPB), intraluminal axial support (Abiomed’s Impella), and left atrium-to-femoral artery bypass (TandemHeart).  Abbott, Abiomed, and LivaNova are some of the leading competitors in the cardiac support systems market.

 

Revolve Surgical – an accessible robotics system for every operating room

The Toronto-based startup is developing a surgical robotics platform that the company claims will be 1% of the cost and size of competitive platforms. Revolve’s platform will offer a hybrid manual-robotic approach that aims to limit the cost, size, and training required by current systems. This month the company announced that they have joined Y Combinator’s S21 cohort. The surgical robotics market, which is part of the larger digital surgery market, continues to attract the interest of strategics and startups, as companies like Asensus, Galen, and Intuitive develop new means to improve surgical outcomes.

 

Better Therapeutics – a prescription digital therapeutic for Type 2 diabetes

Better Therapeutics is developing BT-001, a digital therapeutic that uses a proprietary form of cognitive-behavioral therapy (CBT) for the treatment of patients with uncontrolled Type 2 diabetes. In addition to treating patients with Type 2 Diabetes, the company has initiated 4 pilot studies evaluating digital therapeutics for the treatment of hyperlipidemia, hypertension, and Type 2 diabetes with hypertension. In late August 2021, Better Therapeutics secured a loan from Hercules Capital worth up to $50M. The company announced in April 2021 that it would go public through a SPAC merger with Mountain Crest Acquisition Corp. II that will value the company at $187M.

 

Abtrace is developing an artificial intelligence “plugin” for EHRs

Abtrace’s mission is deliver personalized patient insights leveraging the wealth of information stored by electronic health records (EHRs). The company’s AI will offer healthcare providers proactive monitoring and patient-specific predictive care using machine learning algorithms that recognize patterns from de-identified medical datasets and medical notes. Abtrace has developed their platform in partnership with UK clinicians and the National Health Service (NHS). Anthem, Cerner, and Epic are some of the leading EHR companies where Abtrace’s AI software can yield time-saving, patient-benefitting health insights.

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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