Category Archives: medtech

topic is about medical technology of different types, describing specific products under development, the market for them or their impact on healthcare

New Medical Technology Fundings, September 2014

Fundings in medical technology for the month of September 2014 stand at $421 million, led by the $46 million funding of Vital Therapies. Below are the top fundings for the month thus far.

Company, funding Product/technology
Vital Therapies, Inc., has raised $46 million in a public stock offering according to press reports Technologies for the regeneration of liver tissue
Fractyl Laboratories, Inc., has raised $40 million in a Series C round of funding according to a regulatory filing Endoscopic device to aid in type 2 diabetes glucose management
Corindus Vascular Robotics, Inc., has raised $26.67 million in a round of funding according to a regulatory filing Robotic system to assist interventional cardiologists with stent placement
Acutus Medical, Inc., has raised $26.2 million in a Series B round of funding, according to press reports Minimally invasive, 3D cardiac imaging/mapping technology
iHealth Lab has raised $25 million from Xiaomi Ventures, according to press reports Wireless blood-pressure and blood-glucose monitoring
Ivantis, Inc., has raised $25 million adding to its existing Series B round of funding according to press reports Device for the treatment of glaucoma
Minerva Surgical, Inc., has raised $25 million in a round of funding according to a regulatory filing Ablation device for the treatment of menorrhagia
REVA Medical, Inc., has raised $25 million in new funding according to the company Bioresorbable scaffold for use in vascular stents

For the complete list of medtech fundings in September 2014, see link. For a historical list of the fundings in medtech, by month, since 2009, see link.

New Technologies Under Development at Medtech Startups, August 2014

Below is a list of the technologies under development at newly identified medtech startups and included in the Medtech Startups Database.

  • Technology for the repair of rotator cuff tears.
  • Technologies for intravenous cannulation and phlebotomy, and an otorhinoscope.
  • Implant for the treatment of urinary incontinence.
  • LED (light) treatment of acute, dry macular degeneration.
  • Esophageal cooling device to manage patient temperature.
  • Surgical robotics.
  • Patient positioning system for orthopedic surgery.
  • Device to treat macular degeneration by delivering microcurrent to the eye.

For a historical listing of medtech startup technologies included in the database, see link.

Medtech fundings in August 2014

Fundings in medical technology for the month of August 2014 totaled a tepid $199 million, the largest of which are the $55 million funding of Civitas Therapeutics and the $30 million funding of OptiNose. Below were the top fundings for the month.

Company, funding Product/technology
Civitas Therapeutics, inc. has raised $55.25 million in a round of funding according to a regulatory filing Respiratory drug delivery
OptiNose, Inc., has raised $30 million of a planned $35 million round of funding according to a regulatory filing Powered intranasal drug delivery
Claret Medical, Inc., has raised up to $18 million in a Series B round of funding according to press reports Catheter for cerebral protection during transcatheter aortic valve implantation
Silk Road Medical, Inc., has raised $15 million of a planned $22.5 million round of funding according to a regulatory filing Transcarotid stent for treatment of neurovascular disorders
ViaCyte, Inc., has raised $15 million in a round of funding according to a regulatory filing Cell therapy-based artificial pancreas for diabetes
Seventh Sense Biosystems, Inc., has raised $10.47 million of a planned $16.47 million round of funding according to a regulatory filing Phlebotomy technologies

For the complete list of medtech fundings in August 2014, see link. For a historical list of the fundings in medtech, by month, since 2009, see link.

Medical technologies at startups, July 2014

Below is a list of technologies under development at medical technology startups identified in July 2014 and included in the Medtech Startups Database.

  • thrombectomyInstrumentation for electrophysiology diagnosis and treatment.
  • Products for the treatment of hypertension and other chronic disease by interventional cardiologists
  • Surgical stapling device for use during natural orifice transluminal endoscopic surgery.
  • Low cost medical technologies to improve patient management in emerging markets.
  • Heart valve for the treatment of mitral valve regurgitation
  • Thrombectomy catheter
  • Microstaple bandage for wound closure.
  • Whole-body cryotherapy chambers as well as devices for local cryotherapy and cryosurgery.
  • Minimally invasive surgical device for the treatment of glaucoma
  • Electrical muscle stimulation.

For a historical listing of medical technologies at startups, see link.

Effective technologies for wound hemostasis, sealing and closure

See the pending 2014 Report #S192, “Worldwide Surgical Sealants, Glues, Wound Closure and Anti-Adhesion Markets, 2013-2020″.

Tourniquet, pressure and sutures have been used for controlling excessive bleeding during surgical procedures for many hundreds of years. Fibrin sealants represented a revolution in local hemostatic measures for both bleeding and nonbleeding disorders. Fibrin sealant has the potential to provide life-saving control of excessive bleeding in many critical surgical operations and during a number of elective procedures. The terms “sealant” and “glue” are frequently used interchangeably in the surgical context, but there is actually a difference in adhesive strength between sealants, pioneered by fibrin products (sometimes homemade) and the later, stronger glues of which cyanoacrylate-based products are the most common.

In order for a sealant to be effective, the product should meet several parameters, depending upon the application. Among these are:

  • Ability to close the wound
  • Strength of bond
  • Speed of curing
  • Protection of the wound from infection
  • Low surface friction
  • Breathability in order to aid healing
  • Lack of adverse side effects to skin and internal tissues
  • Cost-effectiveness
  • Ease of handling

Fibrin and other sealant products have been approved and used outside the United States for many years and their use has created strong awareness of their surgical and economic benefits in Europe, Latin America and Asia. As a result, many such products have been marketed in these regions for 20 years or more, and have been developed for a variety of surgical uses. In the U.S., these products were initially approved as hemostatic adjuncts to suturing. They are increasingly being used for sealing of tissues, but their use beyond simple hemostasis (i.e., as sealants and low-strength glues) lags that of markets outside the U.S.

Despite the development of novel sutures (e.g., resorbable), endoscopically applied clips and other innovations, fibrin sealants will remain a versatile option available to surgeons to achieve hemostasis and sealing of wounds (alone or adjunctively with sutures/staples). Their clinical track record, biocompatibility and ready availability match high demand. Their limitation in adhesive strength, however, does put some limit on their sales potential, since significant demand exists for tight sealing and strong bonding of tissues under stress, such as in lung and bowel resections, cardiovascular and other anastomoses and adhesion of muscle, that go beyond what fibrin sealants can achieve. For this reason, other naturally-occuring “bioglues” are under development that will achieve tighter tissue bonds than fibrin sealants, but without the toxic effects of cyanoacrylates (“superglues”).

There are more than 30 companies worldwide developing fibrin sealants and driving a market that will exceed $2.2 billion by 2017.

sealants-regional-forecast

 Source: MedMarket Diligence, LLC; Report #S190. (This report is being updated by the pending 2014 Report #S192.)

For complete analysis of the global market for fibrin sealants, see the MedMarket Diligence Report #S190, “Worldwide Surgical Sealants, Glues, Wound Closure and Anti-Adhesion Markets, 2010-2017.”

Wound technologies being adopted at varying rates globally

The success of specific wound management products in the market ensues from their ability to produce clinical outcome in environments where there are clinical, economic and other incentives for that success.  The different technologies are used in different healthcare systems/countries/markets with different patient demographics, practice patterns and other variables, resulting in widely variable levels of market success.

Gauze dressings, bioengineered skin, alginates, negative pressure devices, cellular growth factors, hydrogels, antimicrobial dressings — all of these products (and more) represent the practice of wound management for the entire spectrum of wound types and severities.

Practice patterns, regulatory requirements, price pressures, healthcare delivery system gatekeepers, demographics, cultural sensitivities — the net effect of these forces and others dictate the size and outlook of the markets for different wound management products in global markets.

Screen Shot 2014-05-13 at 9.20.35 AM

It’s no surprise, then, that product sales are growing (or declining) at different rates in different regions of the world, but the data is clear on this. MedMarket Diligence researched and published this data in its global wound management market Report #S249, which details the clinical practice of wound management, the products on the market and in development, the current and forecast markets for each worldwide and regionally and the competitors vying for market presence now and in the future.  Research from primary and secondary sources, the global wound market data illustrated above (which is also detailed by country) and presented in Report #S249 is a compelling read for market participants.

Sealants, Glues, Hemostats, Anti-Adhesion: An Evolved Market

In a forthcoming report on advanced technologies associated with the acute phase of wound management — specifically, hemostasis, closure and sealing — MedMarket Diligence will be revealing the state of the art and the industry for fibrin and other surgical sealants; cyanoacrylate and other synthetic and naturally-occurring high strength glues; a wide range of products providing hemostasis; products that prevent the formation of post-surgical adhesions; and the increasingly varied types of physical wound closure, including sutures, staples, clips, tapes, and other mechanical wound closure types.

Our analysis in 2012 illustrated the scope and depth to which these advanced wound closure products had penetrated the realm of many areas of clinical practice that, up to a scan decade ago, had been dominated for a millennia by simple physical methods to manage acute wounds — sutures and tapes. Below is an illustration of the size and growth in e sales of these products, showing that the advanced products are being adopted at accelerated rates, yet a sizable volume of wound closure remains in the hands of very traditional closure (sutures/staples).

Size and Growth of Surgical Securement Product Segments Worldwide 2010-2019

Source: “Worldwide Surgical Sealants, Glues, Wound Closure and Anti-Adhesion Markets, 2008-2015.”  Published by MedMarket Diligence, LLC. See updated Report S192.

Of course, the field of sutures and staples is not exactly stagnant, devoid of innovation. Sutures, staples and clips innovation have been driven by the commensurate innovation in surgical technique. Traditional surgery via laparotomy has long since been revolutionized by laparoscopy, and endoscopic procedures in general have become the standard for minimizing surgical trauma and faster recovery. The endoscopic format has demanded new suturing and stapling technologies, and industry stalwarts like Ethicon, Covidien and others have been happy to provide the solutions.  And even more recently, natural orifice transluminal endoscopic surgery (NOTES) procedures are pushing the minimally invasive principle to a greater extreme.