Medtech Startups: Virta Health, Brain Scope, RevBio, & more

Posted by Life Science Intelligence on Apr 28, 2021 8:00:13 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 over $593 million in funding was raised across ten deals, in addition to a number of other undisclosed deals that were announced. Here are some of the top deals tracked:

Top Deals – Medtech Fundraising Transactions for the Week

Company

Type

Amount Raised

Round

Proximie

Digital surgery platform

$38,000,000

Series B

Ronovo Surgical

Minimally invasive surgery solutions

Undisclosed

Series A

Vicarious Surgical

Ventral hernia repair robotic system

$425,000,000

M&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 privately-held innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:

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Virta Health closes Series E round, raising $133M

Having recently closed a Series D round for $65M, this round of equity financing will be used to support the commercialization of the company’s diabetes reversal solution. Virta develops a virtual metabolic clinic that is intended to reverse chronic metabolic conditions, including Type 2 diabetes, through intense patient monitoring and engagement. The company already partners with over 100 organizations (e.g. large employers) to help their patients manage chronic metabolic diseases. With the close of this round, Virta Health’s company valuation has been boosted to $2B.

Medtech Startups: Virta Health, Brainscope, RevBio, Sense Biodetection, NIDO, PyrAmes

BrainScope – point-of-care assessment of brain health

BrainScope has developed a point-of-care platform for the assessment of brain head injuries, including hemorrhages and concussions. The handheld device acquires EEG data from an electrode headset that is then processed by artificial intelligence to measure and determine the extent of head injuries. To-date, BrainScope has raised an estimated $52.1M in capital. The market for solutions to effectively diagnose traumatic brain injuries has recently seen significant activity, with many new startups entering the space in recent years. Other competitors in the traumatic brain injury diagnostics market include Banyan, Medicortex, and NanoDX.

 

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

RevBio – a bioresorbable, injectable solution for adhering bone

RevBio’s synthetic biomaterial is a biocompatible bone adhesive that is capable of bonding bone to bone and bone to metal. The company’s patented biomaterial, Tetranite, is being developed as a comprehensive solution for orthoregenerative procedures. RevBio is actively investigating the use of its Tetranite solution in the dental, cranial, fracture repair, and spine fusion markets. In April, the company received a $2M grant from the National Institute on Aging. The funding will allow RevBio to study the use of Tetranite in wrist fractures.

Sense Biodetection raises $50M from Series B round

The molecular diagnostics startup is redefining point-of-care with its simple, cost-effective, handheld molecular diagnostic solution. The company’s Veros platform is intended to be an alternative to lab-constrained polymerase chain reaction (PCR) testing, delivering lab-quality results within minutes with the need for traditional benchtop diagnostic equipment. Sense Biodetection is preparing to launch a COVID-19 POC test on its Veros platform, with additional tests to be added to its portfolio in the future. Other startups that have pursued the development of solutions in response to the COVID-19 pandemic include Cue Health, Luminostics, and Unima.

NIDO is developing an innovative solution for the treatment of ventricular tachycardia

NIDO’s SEPIA solution will allow surgeons to visualize the epicardial surface during ablation procedures for the treatment of ventricular tachycardia. SEPIA will improve the efficiency of ablation procedures, which currently is plagued by technological limitations which result in disease recurrence. The Boston-based startup has raised $2.7M to support the development of their solution. AtriCure and Medtronic are the two of the biggest competitors in the surgical ablation technology market.

 

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

PyrAmes raises $6M to support commercialization of continuous BP monitoring solutions

The company is currently developing products to enable continuous blood pressure monitoring in pediatrics and adults. PyrAmes lead product, Boppli, is intended for use in the neonatal intensive care unit (NICU) as an alternative to the invasive insertion of an arterial catheter. Boppli is a single-use, wireless sensor band that slips around a baby’s foot or wrist and continuously measures blood pressure. Data is streamed to a bedside device for live monitoring of vital information.

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