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Investments and financings in medical technology reach $388 million for August 2009

For the month of August 2009, financings at medical technology companies totaled $388 million.  Below, see the individual financings:

  • Ultrasound Medical Devices, LLC, has raised $1.2 million in an undisclosed financing round (ultrasound for diagnosis of coronary heart disease)
  • Freedom Meditech has added $250K to its Series A financing round (glucose measurement device)
  • SmartCells, Inc., has raised $1.15 million from an insider funding round, and has received $850K in an NIH grant (insulin bound to a "polymer-therapeutic" to produce glucose-concentration-specific insulin release)
  • Acrobot Co., has received an undisclosed amount of financing from existing shareholders (computer-assisted orthopedic surgery device)
  • Micell Technologies has raised $5 million in a Series B financing (device surface modification technologies)
  • SurgiQuest, Inc., has raised $3.33 million in new equity financing (surgical technologies)
  • ForSight Vision4 (vision technology spinout from ForSight Labs) has raised $6 million in venture capital funding (advanced eye care)
  • Cardiorobotics, Inc., has raised $11.6 million in financing (remote operated articulating device for use in cardiac surgery, others)
  • HeartWare International, Inc., has raised $55 million in private placement funding (miniature left ventricular assist devices/pumps)
  • NiTi Surgical Solutions has raised $18.5 million in a Series F round of financing (nitinol-based devices for anastomoses)
  • Flex Biomedical, Inc., has raised $985K in equity ($835K) and debt ($150K); (polymer-based alternatives to hyaluronic acid for treatment of osteoarthritis)
  • ArthroCare Corp. has received $75 million in Series A funding from the equity investment arm of JPMorgan Chase (Coblation surgical technology for removing and treating tissue in arthroscopy, spine and ENT)
  • Embrella Cardiovascular has added $1.6 million to its Series B financing round, bringing the total to $6.7 million (embolic protection devices)
  • M2 Group Holdings has raised $6 million of an anticipated $10 million round of funding (disposable insulin delivery devices)
  • BridgePoint Medical, Inc., has raised $6.1 million according to a regulatory filing (devices for treatment of chronic total occlusions)
  • Coherex Medical Closes $16.5 Million Series B Preferred Stock Financing (technology for closure of patent foramen ovale)
  • Neuronetics, Inc., has raised $30 million according to a regulatory filing (pulsed magnetic field system for treatment of depression)
  • Benvenue Medical, Inc., has raised $4 million in a debt and equity financing according to a regulatory filing (minimally invasive therapy to treat orthopedic diseases)
  • CardioMEMS, Inc., has raised $22 million in a new round of funding (implantable technology for management of cardiovascular disease)
  • MAKO Surgical Corp. has raised $58.36 million in a public offering of common stock (orthopedic minimally invasive joint market)
  • Barosense, Inc., has raised $30 million in a Series D financing according to a regulatory filing (minimally invasive device for treatment of obesity)
  • ProFibrix Raises US $11 Million in Series B Financing (dry powder topical tissue sealant)
  • BrainStorm Cell Therapeutics Secures $450K Funding to Reach Clinical Trials for ALS (adult stem cell treatment for amyotropic lateral sclerosis)
  • Integrated Medical Systems Receives $1.1 Million From the U.S. Department of Defense for Critical Enhancements of the World’s First ‘Suitcase’ Intensive Care Unit (portable unit for providing adult and pediatric intensive care unit functionality)
  • BioSyntech, Inc., has raised raised $1.4 million in a private placement (biotherapeutic thermogels for use in regenerative medicine)
  • Pivot Medical, Inc., has raised $6 million in new funding according to a regulatory filing (stealth company pursuing non-spine orthopedic technologies)
  • Veran Medical Technologies, Inc., has raised $1.4 million of a planned $2 million financing round, according to a regulatory filing (image guided surgical navigation)
  • iWalk Inc. has raised $20 million in a Series B financing (self-contained robotic prosthetic ankle)

 

Editor’s note:  With the addition of the iWalk financing at the end of August 2009, total financings in medtech for the month rose to $408 million.

Investments and financings in medical technology reach $388 million for August 2009
  • The $20 million financing by iWalk pushed August 2009 medtech financings over $400 million. Of course, there is no particular significance in round numbers like "400", but as I look back over the challenges of financing in the last 8-10 months, it is clearly an advance in total financings when the number crosses $400 million.
  • It appears that the financing from Endosense, a $36 million Series B, just missed the Aug. 31 cutoff. Otherwise August medtech financings would have been in excess of $400 million.
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