These medtech companies raised the most VC last year

Perhaps there’s a ray of hope that venture capital funding is recovering a bit for the medical device industry. VC firms invested more than $2.8 billion in 2017, an increase of more than $647 million from 2016, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and CB Insights. There were a total 229 deals involving

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Promaxo closes $3.5 million Series A for office-based, high-res MRI

Promaxo said today that it closed a $3.5 million Series A round to fund its clinical validation and regulatory efforts for the company’s office-based, high-resolution MRI. MicroPort Scientific led the round and in connection with its investment, MicroPort was given exclusive manufacturing and distribution rights for Promaxo’s MRI tech in China. Get the full story at

Humacyte lands $14 million to expand uses for human acellular vessel

Humacyte said today that it landed a $14.1 million award from the California Institute for Regenerative Medicine to support a clinical trial comparing its human acellular vessel, Humacyl, to arteriovenous fistulas – the traditional way to create vascular access in patients who need hemodialysis. The Research Triangle Park, N.C.–based company said it plans to evaluate Humacyl

5 medtech funding insights you need to know

Venture capital funding isn’t what it used to be for medical device startups, but there are actually reasons to feel optimistic about medtech funding. That was the big takeaway from a four-expert panel at DeviceTalks Minnesota last month. (The next DeviceTalks is Oct. 2 in Boston.) Charlie Whelan, director of transformational health consulting at Frost & Sullivan,

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MobileODT raises $7m for portable cervical cancer detection device

MobileODT said today that it raised $6.8 million in a Series B financing round. OrbiMed Advisors led the financing and was joined by a previous investor, Tristel. To date, the Israeli cancer diagnostic company has raised more than $13 million. Get the full story at our sister site, MassDevice.

LabConnect receives $24.5M in Series A funding

LabConnect announced that it has received a $24.5M Series A investment from ABS Capital Partners, Pablo Capital and BroadOak Capital. The funding will go toward growth initiatives like building out the technology platform, product and service enhancements and sales team expansions while also giving liquidity to early shareholders. John Stobo, a managing general partner at

Acessa Health closes bankruptcy buyout of Halt Medical, raises $30M

Acessa Health said today that it closed the bankruptcy buyout of Halt Medical and promptly raised a Series A round worth $30 million. The Acessa device is designed to treat uterine fibroids using radiofrequency ablation. Its successor namesake emerged after a Delaware federal bankruptcy judge earlier this month approved the bankruptcy sale, which was designed to keep the

Slips Technologies raises $9m for coatings tech

Slips Technologies said today that it raised nearly $9 million for the super-slippery coating it’s developing, including a $3 million grant from a U.S. Energy Dept. agency. Named for its technology, “slippery liquid-infused porous surfaces,” the Cambridge, Mass.-based company’s coating is designed to create a self-healing liquid layer that’s too slippery for other fluids to adhere

Wellness entrepreneur explains his vision – and surviving a deadly brain tumor

Avi Yaron is no ordinary entrepreneur, but he is definitely an engineer. When diagnosed with an inoperable brain tumor, he met the challenge by inventing the solution to his own illness. Instead of optic mechanics, he used small silicon chips that mimic an insect eye. These enabled a camera to provide access to both the right and

MedLumics secures 34.4M Euros in Series B funding

MedLumics, a cardiac device company specializing in optically guided minimally invasive instruments, announced that it has raised 34.4M Euros in financing that will be used to help advance the product and clinical development of the company’s AblaView catheter, intended for the treatment of atrial fibrillation (AF) and other arrhythmias. This financing is the largest in

eGenesis raises $38m for CRISPR-powered xenotransplantation

A Cambridge, MA.-based firm got a $38 million boost towards it goal of harvesting animal organs to give to humans in dire need of a transplant. eGenesis, a spin-out from Harvard University, hopes to improve the supply of organs for patients that are stuck on the transplant waiting list. While the seemingly science-fiction field of xenotransplantation

Cryo tech for microscope samples wins funding

CryoCapCell (Paris) said Tuesday that it has raised €1.5 Million ($1.6 million) from Seventure Partners’s Quadrivium 1 seed capital fund. The money will go toward CryoCapCell’s technology to freeze living tissue samples through ultra-rapid, high-pressure vitrification (or cryogenisation), preventing the alteration of biological structures. The goal is to initially use the technology for cancer research

Medical isotope producer Shine Medical raises $27.2m

Shine Medical Technologies said last week in an SEC filing that it raised $27.2 million in a round of debt financing. Over 200 investors have contributed to the $29 million offering, which made its 1st sale on October 11, 2013. Monona, Wis.-based Shine Medical makes radioactive isotopes for medical diagnostic purposes such as detecting and treating cancer, according to the

Cohero raises $9m Series A for smart inhalers

Cohero Health said today that it closed a $9 million Series A round for its BreatheSmart patient monitoring platform, which can track medication adherence and measure lung functioning. The funds are also earmarked for commercial development efforts and expanding Cohero’s clinical trial program. The round was led by Three Leaf Ventures with participation by Zaffre Investments and BioAdvance, Cohero