Life Science Intelligence Blog

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Neuros Medical is raising $42.8M in equity

Currently the company has completed the sale of $37M in equity from 24 investors. Neuros Medical is a developer of proprietary neuromodulation technology for the treatment of chronic pain. Neuros’ Altius System uses an implantable generator to deliver electrical signals in the peripheral nervous system to block pain signals. Major competitors in the neuromodulation market include Abbott, Boston Scientific, and LivaNova.

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Venari Medical completes $5.3M Seed round

The company is developing BioVena, a catheter-based therapy for chronic venous disease. BioVena disrupts the inner vessel lining, which causes natural scarring and vessel closure that diverts blood away from the diseased vessels. Abbott, Boston Scientific, and Edwards are some of the key strategics in the competitive landscape.

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Diality – bringing dialysis into the patient’s home

Diality is developing a portable home hemodialysis machine intended to help improve the quality of life of patient’s with kidney disease. The company’s product is currently pending CE Mark in the EU and FDA clearance in the US. Diality has raised $30.5M in capital as of October 2020. Key strategics in the hemodialysis market include Baxter, Fresenius, and Nipro.

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Instylla – liquid embolization using hydrogel technology

Instylla is developing liquid embolics for interventional oncology and peripheral hemostasis. In October 2020, Instylla announced that it had completed a Series B round of financing in which the company raised $25.4M. The company intends to use these funds to finance clinical trials, including a pivotal clinical trial in the US. Key strategics that offer liquid embolization products include Johnson & Johnson and Medtronic.

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Rhaeos – developing a non-invasive, wearable shunt monitor

The company is currently developing FlowSense, a wireless, non-invasive wearable that is placed over a patient’s shunt to monitor the buildup of cerebrospinal fluid and prevent hydrocephalus. The device is intended to help healthcare providers monitor shunt function and reduce unnecessary healthcare expenditures (e.g. readmission costs, hospital length of stay). Key strategics in the shunt therapy market include Aesculap, Integra LifeSciences, and Medtronic.

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

MIT spin-off Encora Therapeutics raises $1.5M

Encora Therapeutics is developing wearable technology that will provide patients with personalized and non-invasive remedies for the management of neurological movement disorders. Other competitors developing wearables for the monitoring and rehabilitation of neurological movement disorders include Great Lakes NeuroTechnologies and ADPM Wearable Technologies.

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BioProtect - biodegradable balloons for a variety of clinical applications

The company develops and commercializes biodegradable balloons for aesthetics, general surgery, and spacing for radiation oncology protection. In September, the company raised $25M in a Series D round. To-date, BioProtect has raised approximately $43.9M. Key strategics in the market include Accuray, Brainlab, and Varian.

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Artificial intelligence image analysis developer RapidAI completes Series B round

RapidAI announced that it has raised $25M in the Series B round. The funds will be used towards recognizing strategic growth initiatives around the world. The company develops software solutions to help healthcare providers diagnose and identify cerebrovascular disorders more effectively. Key strategics include GE Healthcare, Philips, and Siemens.

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ExsoMed - Minimally invasive orthopedic solutions to improve surgical outcomes

The company develops orthopedic fixation devices (i.e. screws) for hand surgery. ExsoMed’s three products are commercialized. Early September, the company received FDA clearance for its Four Corner Fusion system for wrist arthritis. ExsoMed plans to sell this asset to keep the company “focused on our market-differentiating, sterile-packed, single-use business model.” Other strategics in the orthopedics market include J&J, Smith & Nephew, and Zimmer-Biomet.

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Evolution Devices – using artificial intelligence to personalize mobility rehabilitation

The company is developing EvoWalk, a functional electronic stimulation device that monitors and personalizes electrical stimulation to support mobility rehabilitation in patients suffering mobility impairments caused by stroke, ALS, and multiple sclerosis. Key strategics in the neuromodulation devices market include Boston Scientific, LivaNova, and Medtronic.

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