Many lungs being transported for transplant arrive in such bad shape that they cannot be used. Paragonix Technologies aims to change that with SherpaLung, a specialized cooler that keeps lungs properly inflated and at the right temperature to survive an airplane trip. Paragonix Technologies just landed support from the Lung Transplant Foundation to continue developing and commercializing
Minnesota digital health companies are raking in the big bucks
April 17, 2018 By Leave a Comment
Minnesota-based medtech companies raised $112 million in venture capital during the first quarter of this year, according to a report from Medical Alley Association. More than half of the companies that raised VC were consumer-focused healthcare and digital health, a change for the region that is known for its implantable cardio devices and neuromodulation. Investors
Medtech companies raised more than $839 million in Q1
April 16, 2018 By Leave a Comment
Venture capital firms invested more than $839 million in medical devices and equipment companies during the first quarter of 2018, an increase of more than $338 million from the last quarter of 2017, according to the MoneyTree Report from PricewaterhouseCoopers (PwC) and CB Insights. There was a total of 48 deals during Q1 this year,
Optum CEO Renfro steps down to lead expanded investment fund
March 16, 2018 By Leave a Comment
In a major personnel shift, UnitedHealth Group announced this week that Larry Renfro, CEO of its subsidiary Optum, will step away from the corner office to become managing partner of Optum Ventures and its expanded $600 million investment fund. Ex-GlaxoSmithKline chief executive, Andrew Witty, will take Renfro’s place as CEO of Optum on July 1,
These medtech companies raised the most VC last year
January 19, 2018 By Leave a Comment
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
Promaxo closes $3.5 million Series A for office-based, high-res MRI
September 29, 2017 By Leave a Comment
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
September 29, 2017 By Leave a Comment
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
July 7, 2017 By Leave a Comment
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,
MobileODT raises $7m for portable cervical cancer detection device
July 6, 2017 By Leave a Comment
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
June 27, 2017 By Leave a Comment
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
June 26, 2017 By Leave a Comment
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
June 20, 2017 By Leave a Comment
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
April 10, 2017 By Leave a Comment
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
March 20, 2017 By 1 Comment
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
March 16, 2017 By Leave a Comment
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
