October 2009 Medtech Financings


Medical technology company financings for the month of October have reached just shy of $200 million.  Levels have dropped from the burst of $400+ million per month in July and August, as well as from the $328 million in September.  Take out the two most significant fundings in October, the $40 million for Direct Flow Medical and the $55 million for TransEnterix, and the month's total is an anemic $97 million.  If one were to offer conjecture (OK, we will), then the pending healthcare reform legislation, and its possible impact on the device industry, has placed much possible investment on hold.

October 2009 Medtech Financings

  • SyntheMed, Inc., has received $1 million funding in a private placement (anti-adhesion products and other surgical implants)
  • Cardica, Inc., has raised $10.2 million in a planned $16.1 million funding round according to a regulatory filing (vascular anastomosis)
  • TechniScan Medical Systems, Inc., has closed $1.1 million in a final tranche of its $6 million total Series E financing (ultrasound for breast imaging) 
  • Direct Flow Medical, Inc., has raised $40 million in funding according to a regulatory filing (percutaneous aortic tissue valve)
  • Medical Technologies Unlimited, Inc., has received $4 million in a private investment (diagnostic technologies for assessment of musculoskeletal conditions)
  • ALung, Inc., raises $2.5 million in a round of financing from existing investors (intravascular lung oxygenation device to replace/supplement hospital ventilators)
  • TransEnterix, Inc., has raised $55 million in a Series B financing (single-port laparoscopic surgery platform)
  • BiO2 Medical, Inc., has raised $600K in funding (vena caval filter to prevent pulmonary embolism)
  • BMEYE B.V. has raised $8.8 million (€6 million) in financing in a Series B round (non-invasive finger sensor cardiovascular monitoring)
  • Uptake Medical, Inc., has raised $1.2 million in financing toward a hoped-for $13.3 million round (minimally invasive technology for treating chronic lung disease)
  • EndoGastric Solutions, Inc., has raised $9.5 million in bridge financing as part of a Series E round (devices for treatment of GERD)
  • Cardo Medical, Inc. has raised $3 million of a planned $8 million funding round according to a regulatory filing (reconstructive orthopedic and spine surgery products)
  • Denali Medical has raised $2 million in financing according to a regulatory filing (medical technology incubator)
  • Cardium Therapeutics has raised $6 million from a select group of investors (biologic therapeutics and medical devices for cardiovascular and ischemic disease)
  • Augmenix, Inc., has raised a $6.1 million tranche in its Series B financing round (radiation oncology polymer product)
  • Embrella Cardiovascular has raised $1.6 million in Series B financing, bring the financing round total to $6.7 million (embolic protection)
  • Neuros Medical has raised $1.3 million in a financing round according to a regulatory filing (neurostimulation for pain management)
  • CivaTech Oncology, Inc., has raised $1 million in a Series B funding round (device for the treatment of prostate cancer)
  • Vertos Medical, Inc., has raised $15.5 million in a Series D round of funding (devices for treatment of degenerative spine disease)
  • ViVre Medical, Inc., has raised $1.6 million in an early stage round of funding (undisclosed medical device)
  • Keraderm Corp. has closed on a $2.5 million round of investment (phototherapy technology for treatment of nail and skin infections)
  • Mazor Surgical Technologies Ltd has raised $23 million in a (NIS 85.1 million) in a public offering (robotic imaging device for spine surgery)
  • Patton Surgical has received $3 million from Texas' CenTex RCIC (safe laparoscopic trocar)

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