September 24, 2014 by Brad Perriello
It’s a hard world out there for those looking to turn their cutting edge medical device ideas into commercial products, with investors shying away from early-stage companies in favor of more established medtech enterprises.
In fact, less capital went into medical device companies last year than in any year since 2001, according to a report from Silicon Valley Bank, accounting for only 7% of overall venture capital investment in 2013. Read more
September 22, 2014 by Arezu Sarvestani
California mobile devices maker iHealth is undergoing a major shift, fueled by a $25 million investment from Xiaomi Ventures, the company’s 1st institutional round of funding.
The company shortened its name (formerly iHealth Labs) and is expanding into 3 operating divisions: the Americas (based in Mountain View, Calif.), Europe (based in Paris, France) and Asia Pacific (based in Hong Kong). Read more
September 23, 2014 by Alexander Soule
Ivantis today said it added a $25 million tranche to its now $71 million Series B round as the Irvine, Calif.-based company looks to bring its miniature glaucoma scaffold to the U.S. market.
The new funding should be sufficient to take it through the FDA approval process for the Hydrus micro-stent Ivantis is developing for what it estimates to be a 700,000-patient market. The device is already being used in some international markets; in the U.S., Ivantis is staging Phase 3 trials with a projected enrollment of 800 patients age 45 or older, under the direction of a principal investigator with the Eye Institute of Utah and a target completion date in 2016, according to the National Institutes of Health. Read more
September 24, 2014 by Arezu Sarvestani
California women’s health company Minerva Surgical is just a stone’s throw from wrapping up an equity funding round slated to bring in $25.6 million.
Minerva is looking for just $5,840 more, according to an SEC filing dated Sept. 22. The round has brought in 26 unnamed investors so far. Read more
September 24, 2014 by Alexander Soule
Palmaz Scientific recorded $1.3 million of a planned $4.2 million funding round for the prosthetic implant technology it’s developing in Dallas.
Coronary stent pioneer Dr. Julio Palmaz started the company in 2008 (in an interesting side note, he also owns Palmaz Vineyards, which boasts the largest underground winemaking facility in the U.S.). Palmaz, a 2006 inductee of the National Inventors Hall of Fame, helped develop the 1st generation of coronary stents, tapped as 1 of “10 inventions that changed the world” in a 2002 edition of IP Worldwide. Read more