Category: Funding Roundup
Hansen Medical says it more than doubled sales of it robot-assisted surgery systems during the 2nd quarter and exercised warrants worth some $23 million.
Medtronic-backed Proteus Digital raises $172M for sensor-enabled pills; Skyline Medical raises funds to pay corporate salaries; Augmenix raises $11M for surgical hydrogels as Varian's purchase option expires; and more top funding stories for medical device companies this week.
Cleveland-based Checkpoint Surgical secures $7.5 million so far in a quest for $10 million to support its intra-surgical nerve detection systems.
Checkpoint Surgical is looking for another $2.5 million to cap off a $10 million equity funding round originally launched in 2011, according to the company's SEC documents.
Medical device startups face significant headwinds in finding funding and getting to an exit, but at least prospective buyers are a little more willing to gamble on companies that haven't yet made it through the FDA.
The funding environment for medical device startups isn't a pretty scene, but there is a ray of sunshine through the gloom: lack of FDA approval is no longer a deal-breaker for a big exit.
In 2013 a few medtech companies managed "big exit M&A" deals (those worth $50 million or more) without having reached the FDA's brass ring, according to a new report from Silicon Valley Bank.
Proteus Digital Health, which is backed by Medtronic, Novartis and others, raises more than $172 million in a Series G funding round in support of its sensor-embedded ingestible pills.
California-based Proteus Digital Health closed a Series G funding round this week with more than $172 million pledged in support of the company's ingestible sensor-laden pills.
Varian passes on an acquisition option as Augmenix closes a Series D funding round with $10.8 million raised in support of its Space OAR hydrogel for protecting the rectum during prostate radiation therapy.
Massachusetts-based Augmenix is hoping it can make it to the U.S. market with the $10.8 million funding round it just closed, the company said this month.
Skyline Medical reveals in an SEC filing that it raised about $733,000 to help pay its officers and directors.
Minnesota device maker issued a series of updates this month on its legal and financial dealings, including that it secured more than $733,000 to help pay for its corporate expenses.