As a follow up to a thread on Twitter that took place today regarding medtech, I thought I would just briefly post the number of examples of recent financings in medtech. Despite one part of conversation, when someone trotted out the old argument about how medtech needlessly contributes to rising healthcare costs (which was abruptly cut off by reference to VC support of startups that focus on cost), the thrust of feedback and commentary was positive about medtech attracting funding.
Here is just a cursory list of medtech companies who have recently (within the last month) received financing at this less than optimum time:
- Mpex Pharmaceuticals Announces Series D Financing of Up to $40 Million
- ALung Technologies raises $1mm of potential $2.5mm financing
- SynergEyes, Inc. Raises $13.3 Million in ‘Series C’ Financing
- Arcxis Biotechnologies(R) Secures Series B Financing (undisclosed amount)
- Diagnosoft(R) Secures $4 Million in Financing
- DNA Therapeutics Closes 2.2 Million EUR Series A Financing Round
- The Foundry Announces New Partners and Completion of Series A Financing for Eleventh Company
- Medical device co SteadyMed raises $2M
- Avantis Medical Systems, Inc. Raises $10 Million in Series C Funding
- Hydra Biosciences Raises $22 Million in Series D Financing
- Alter-G Secures $8 Million in Series B Financing from Versant Ventures
- Singulex Closes $19 Million Financing Round
- InSet Technologies Completes $25 Million Financing
- Acclarent, Inc. Closes $26 Million Financing
Although this is indeed an anecdotal snapshot of the status of funding in medtech, one can at least point to the fact that roughly $150 million has been pumped into medtech in the last month. By some accounts, that’s pretty remarkable during this cash-poor economic downturn. By my accounts, however, it’s a fair reflection of the value of medtech especially during an economic downturn.
I’ll make this point again: An ebb tide lowers all boats, but medtech is still afloat while other industries have already, or ar about to, run aground.
Comments 1
Patrick–great stuff! This will ease the minds of some of the med-tech start-ups we're working with through SARTA's MedStart initiative in Sacramento.
Posted 11 Feb 2009 at 1:07 am ¶Post a Comment