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10 Medtech Startups on Fire in Q3 2016

  • A diverse array of medical device technologies top the list when it came to getting attention from venture capitalists during the third quarter.

    Chris Newmarker

    Cutting edge wearables, an implantable stimulation device to treat hypertension, and genetic testing for cancer risk—those are but some of the wide array of medical technologies garnering the largest venture capital raises during the third quarter of 2016, according the MoneyTree Report from by PricewaterhouseCoopers, based on data from Thomson Reuters.

    Overall, the medical device industry continues to increase deal numbers and size each quarter this year. Medtech companies raised nearly $663 million during the third quarter, up a fifth from the roughly $550 million raised during the second quarter. There were a total 69 deals, up from 64 the previous quarter.

    This year, however, is still lagging behind 2015. For the first nine months of 2016, there were 192 venture capital deals worth a total $1.7 billion in the medical device industry, down from 247 deals worth $2.2 billion during the first nine months of 2015.

    Still, there was much cheer for the 10 medtech companies bringing in the most venture capital during the third quarter. Read on to find out more about them.

    Continue>>

     

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    Chris Newmarker is senior editor of Qmed. Follow him on Twitter at @newmarker.

    Like what you're reading? Subscribe to our daily e-newsletter.

    [image courtesy of IDEA GO/FREEDIGITALPHOTOS.NET]

  • Name: Veniti

    Location: St. Louis, MO

    Technology: Veniti’s VICI venous stent was uniquely designed to treat the millions of people suffering from chronic venous disease associated with venous outflow obstruction, according to the 6-year-old company. The stent received CE marking in October 2013 and was implanted in its thousandth patient over the summer. The stent is an investigational device in the United States.

    Money Raised: $25 million

    Investors: Boston Scientific

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of Veniti. Venture capital data from MoneyTree Report.]

  • Name: Element Science

    Location: San Francisco

    Technology: Element Science is seeking to develop a therapeutic wearable device to re-define treatment of people who are temporarily at risk of sudden cardiac death, providing them a potentially life-saving therapy.

    Money Raised: $25 million

    Investors: Undisclosed Investor

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of Element Science. Venture capital data from MoneyTree Report.]

  • Location: Shoreview, MN

    Technology: Torax Medical has a device-based treatment for both gastroesophageal reflux disease (GERD) and fecal incontinence. The technology draws on specialized magnets to precisely restore the barrier function of sphincters. In the case of both the implantable Linx device for treating reflux and the implantable Fenix device for restoring continence, the attraction between interlinked titanium beads with magnetic cores helps bolster the sphincter barrier. Tora is presently marketing the devices in both the U.S. and Europe.

    Money Raised: $25 million

    Investors: Shoreview

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of Torax Medical. Venture capital data from MoneyTree Report]

  • Name: RefleXion Medical

    Location: Hayward, CA

    Technology: RefleXion says that its patented cancer treatment technology leverages positron emission tomography (PET) in a novel way, causing tumors to continuously signal their location and activity levels during radiation treatment. A radio-labeled tracer called FDG causes tumors to “light up” under PET based on metabolic activity, and RefleXion says alternative tracers can be used to pinpoint other tumor characteristics such as hypoxia and cellular proliferation.

    Money Raised: $29 million

    Investors: Sofinnova Ventures Inc, Venrock Inc, Johnson & Johnson Innovation-JJDC, Pfizer Venture Investments, Undisclosed Firm

     

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of RefleXion Medical. Venture capital data from MoneyTree Report.]

  • Name: VytronUS

    Location: Sunnyvale, CA

    Technology: VytronUS is developing an integrated imaging and ablation platform for the treatment of cardiac arrhythmias. The system via catheter delivers a device to the interior of the heart. The device uses ultrasound to create a high-resolution image of the heart’s interior for procedure planning. Physicians are able to simply draw a desired treatment pattern on the workstation image. Money is going toward technology refinements and clinical trials.

    Money Raised: $30 million

    Investors: Biostar Ventures II, Windham Venture Partners, Apple Tree Partners, New Enterprise Associates

     

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of VytronUS. Venture capital data from MoneyTree Report]

  • Name: SentreHEART

    Location: Redwood City, CA

    Technology: SentreHEART officials boast that the Lariat suture delivery device could enable certain surgical procedures to be moved from the operating room to the catheterization lab, with only a small piece of suture left behind. Doctors are able to deliver a 40 mm pre-tied suture loop for immediate and complete soft tissue closure, with access as small as 4.3 mm.

    Money Raised: $35 million

    Investors: Decheng Capital, Prospect Venture Partners, U.S. Venture Partners, Deerfield Management Company, Vivo Capital

     

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of SentreHEART. Venture capital data from MoneyTree Report]

  • Name: Color Genomics

    Location: Burlingame, CA

    Technology: For the present price of $224, Color’s physician-ordered genetic testing covers 30 genes and helps people understand their risk for eight common hereditary cancers—including breast, ovarian, colon, and pancreatic cancer.

    Money Raised: $38.5 million

    Investors: 8VC, Undisclosed Firm, General Catalyst Partners, Undisclosed Firm, Undisclosed Firm, Khosla Ventures

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of Color Genomics. Venture capital data from MoneyTree Report]

  • Name: Rox Medical

    Location: San Clemente, CA

    Technology: Rox is touting an innovative interventional vascular therapy for uncontrolled hypertension. The Rox Coupler and Flow procedure opens a passage between an artery and a vein in the upper thigh, redirecting a measured amount of arterial blood to the veins.

    Money Raised: $40 million

    Investors: Novartis Venture Funds, Versant Venture Management, Domain Associates, Apple Tree Partners

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of Rox Medical. Venture capital data from MoneyTree report]

  • Name: Chrono Therapeutics

    Location: Hayward, CA

    Technology: Chrono’s smoking cessation wearable is programmed to proactively delivers transdermal nicotine when cravings are strongest. For example, the system is programmed to the user’s waking time so that it starts delivering nicotine before they wake up, reducing the chance of morning cravings. The device is connected via Bluetooth to the user’s smartphone. Chrono is presently in Phase 2 clinical trials and pending submission to FDA.

    Money Raised: $43.6 million

    Investors: Mission Bay Capital, 5AM Ventures, Emergent Medical Partners, Endeavour Vision, Mayo Medical Ventures, Xeraya Capital, Undisclosed Firm, GE Ventures, Cota Capital, Hikma Ventures, Kaiser Permanente Ventures, Canaan Partners, Undisclosed Firm

     

    Continue>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of Chrono Therapeutics. Venture capital data from MoneyTree Report.]

  • Name: CVRx

    Location: Minneapolis

    Technology: CVRx’s  implantable Barostim System “triggers the body’s own natural blood flow regulation system” to treat high blood pressure and heart failure, according to the company. It achieves this by electrically activating the baroreflex, which is the body’s natural mechanism for cardiovascular function regulation. The device has the CE Mark and may be sold in Europe but is limited to investigational use in the United States, although it has received Expedited Access Pathway from FDA. The $46.5 million raised during the third quarter of 2016 comes on top of another $46.5 million that the company brought in during the second quarter, according to MoneyTree.

    Money Raised: $46.5 million

    Investors: New Enterprise Associates, Johnson & Johnson Innovation-JJDC, Action Potential Venture Capital, Gilde Healthcare Partners BV, Ysios Capital Partners SGECR SA, Windham Venture Partners

    Find out which medtech startups raised the most in Q2 2016>>

    And here are the 10 best-performing medical device companies of the year>>

    Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

    [Image courtesy of CVRx. Venture capital data from MoneyTree Report.]

A diverse array of medical device technologies top the list when it came to getting attention from venture capitalists during the third quarter.

Chris Newmarker

Cutting edge wearables, an implantable stimulation device to treat hypertension, and genetic testing for cancer risk—those are but some of the wide array of medical technologies garnering the largest venture capital raises during the third quarter of 2016, according the MoneyTree Report from by PricewaterhouseCoopers, based on data from Thomson Reuters.

Overall, the medical device industry continues to increase deal numbers and size each quarter this year. Medtech companies raised nearly $663 million during the third quarter, up a fifth from the roughly $550 million raised during the second quarter. There were a total 69 deals, up from 64 the previous quarter.

This year, however, is still lagging behind 2015. For the first nine months of 2016, there were 192 venture capital deals worth a total $1.7 billion in the medical device industry, down from 247 deals worth $2.2 billion during the first nine months of 2015.

Still, there was much cheer for the 10 medtech companies bringing in the most venture capital during the third quarter. Read on to find out more about them.

Continue>>

 

Discover more innovative medical device companies at BIOMEDevice San Jose, December 7–8, 2016

Chris Newmarker is senior editor of Qmed. Follow him on Twitter at @newmarker.

Like what you're reading? Subscribe to our daily e-newsletter.

[image courtesy of IDEA GO/FREEDIGITALPHOTOS.NET]

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