Bone adhesive dev Launchpad Medical raises $9m | Medtech Funding Roundup

Launchpad Medical has raised $8.5 million in a new round of equity financing, according to recently posted SEC filings.

The Lowell, Mass.-based medtech company is developing the Tetranite injectable, synthetic adhesive solution intended for bone repair.

Tetranite is bioresorbable and is designed to provide instant adhesive capabilities to treat fractured bone and to stabilize metal hardware in compromised bone, according to the company’s website.

The company is looking to raise an additional $1 million in the round, which would bring the total raised to $9.5 million.

The round was joined by 71 unnamed investors, according to the filing, with the first sale date noted on December 21.

LaunchPad Medical has not yet officially commented on the funding round or how it plans to spend funds raised.

Medtech cybersecurity firm Cynerio raises $7m

Medical device cybersecurity solution developer Cynerio has raised $7 million in a new round of funding to help support its healthcare-focused cybersecurity platform.

The round was joined by Accelmed, DRC, MTIP and other global venture capital firms, the company said.

Cynerio has developed a platform intended to analyze medical workflows in an internet of medical things ecosystem, the New York-based company said.

“Cynerio is committed to protecting the future of healthcare by focusing on its weakest link – the connected medical devices and internet of medical things. We are delivering a tailor-made, healthcare driven solution for providers to ensure patient safety and data protection while maintaining operational continuity,” CEO Leon Lerman said in a press release.

Novel imaging tech dev Decision Sciences Medical raises $7m

Medical imaging tech developer Decision Sciences Medical has raised approximately $7.2 million in a new round of debt and options financing, according to a recently posted SEC filing.

Decision Medical is developing a new imaging technology it calls Acoustic Coherent Tomography. The company is currently focusing on using the system for detecting small tumors and assessing soft-tissue musculoskeletal problems.

The imaging platform is intended for emergency room use and diagnosing trauma and underlying disease, and for real-time, intra-operative imaging, according to its website.

Money in the round came from 28 unnamed investors, with the first sale dated as having occurred on October 15, 2015, according to the filing.

The company is still seeking an additional $5 million in the round, which would bring the total raised up to approximately $12.2 million, according to the SEC filing.

Philips joins $7m round for Babyscripts

Obstretics management software platform developer Babyscripts has raised $6 million in a new round of financing joined by Philips, the company said this week.

The round was also joined by StartUp Health and NueCura Partners, the San Francisco-based company said.

Babyscripts is developing a virtual care platform intended to allow OBGYNs to remotely monitor and treat pregnant patients, the company said. The platform uses internet-connected devices for remote monitoring and is intended to automate multiple elements of care.

As part of the funding round, Babyscripts said it intends to partner with Philips’ mother/baby unit to build an extensive virtual care obstetrics and pediatrics platform.

“This funding will help us continue to acquire market share while also allowing us to focus on building even more products for patients in pregnancy. We are excited to partner with a group like Philips — this is a great validation of our vision for obstetrics: a risk based model that we’ve coined ‘precision prenatal care’,” Babyscripts CEO and co-founder Anish Sebastian said in a press release.

Conventus Ortho raises $5m

Conventus Orthopaedics has raised $5 million in a new round of debt and options financing, according to a recently posted SEC filing.

The Maple Grove, Minn.-based company is developing the  Conventus Cage implant device designed for 3D fixation and fracture repair.

The Conventus Cage is designed to allow for a “less invasive” reliable 3D fixation for treating proximal humerus, distal radius and proximal radius fractures, the company said.

Money in the round came from a single unnamed investor, with the sale noted on December 31, 2018, according to the filing. The company has not yet stated how it plans to spend funds raised in the round.

ALung raises $5m

ALung Technologies has raised $5 million in a new round of debt and options financing, according to a recently posted SEC filing.

The Pittsburgh-based company is developing the Hemolung device, an extracorporeal carbon dioxide removal system that works by removing carbon dioxide and delivering oxygen directly to a patient’s blood via a small catheter inserted into the jugular or femoral vein.

Money in the round came from 61 unnamed investors, according to the filing, with the first sale noted as having occurred on December 28, 2018.

The company is not looking for anymore funds in the round, and has not yet stated how it plans to spend the funds it has raised.

BioCardia raises $4m

BioCardia (NSDQ:BCDA) has raised $4 million in a new round of equity and options financing, according to a recently posted SEC filing,

A total of three anonymous investors participated in the round, which notes its first sale as having occurred on December 24, 2018, according to the filing.

The company is not looking to raise anymore funds in the round, and has not yet stated how it plans to spend funds raised.

Pathogen detection dev Seraph Biosciences raises $2m

Pathogen detection platform developer Seraph Biosciences has raised approximately $1.5 million in a new round of equity financing, according to a recently posted SEC filing.

The company is developing the Seraspec platform, a Raman Spectroscopy system intended to provide point-of-care pathogen detection and identification, according to the company’s website.

A total of 15 anonymous investors participated in the round, with its first sale noted on December 21, 2018. The company is looking to raise an additional approximate $2.7 million, which would bring the total raised to $4.2 million, according to the filing.

Seraph Biosciences has not yet stated how it plans to spend funds raised in the round.

CoNextions Medical raises $1m

CoNextions Medical has raised approximately $1.1 million in a new round of equity financing, according to a recently posted SEC filing.

The Salt Lake City, Utah-based company is developing technologies intended to improve tending repair procedures.

The company’s flagship product is the CoNextionsTR, an alternative to traditional suture-based tendon repair techniques. The system is composed of a stainless steel and ultra-high molecular weight polyethylene implant intended to approximate tendons between 1mm and 4mm in thickness, according to the company’s website.

The company is looking to sell an additional $166,001 in the round, which would bring the total sold up to approximately $1.3 million, according to the filing.

The round has been joined by two unnamed investors, and has a minimum investment limit of $100,000, according to the filing. The first sale in the offering is dated as having occurred on December 10, 2018.

Leviticus Cardio, Jarvik Heart win $950,000 grant

Medtech developers Leviticus Cardio and Jarvik Heart have won a $950,000 grant from the Israel-U.S. Binational Industrial Research and Development Foundation.

The Israel-based medtech firms said the grant will help support the development of an implantable wireless ventricular assist device that will use both Jarvik Heart’s pump and Leviticus Cardio’s Coplanar Energy Transfer system.

“We are very grateful to the BIRD foundation for this generous grant. It comes at a crucial development phase of our wireless VAD system after we have achieved a number of very significant milestones and look towards successful human trials,” Leviticus Cardio CEO Michael Zilbershlag said in a prepared statement.

“The goal of both Jarvik Heart and Leviticus Cardio is to change the lives of heart failure patients around the world with this unique, wireless system. These funds from the BIRD foundation will help us achieve that goal,” Jarvik Heart prez & COO Peter Hinchliffe said in a press release.

 

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