Medtech fundings in March 2015

Fundings for medical technologies thus far in March 2015 stand at $542 million, led by the $57 million funding of EndoChoice, Inc.

Below are the top fundings for the month.

Company, funding Product/technology
EndoChoice, Inc., has raised $57 million in a round of funding, according to the company Endoscopes and other instrumentation in gastroenterology
Apollo Endosurgery, Inc., has closed a $50 million secured term loan according to the company Minimally invasive endoscopic surgical products for bariatric and gastrointestinal procedures
Semma Therapeutics has raised $44 million in a Series A round of funding according to the company Cell therapy for type I diabetes
Svelte Medical Systems, Inc., has raised $38.01 million of a planned $48.74 million round of funding according to a regulatory filing Drug eluting and other coronary stents
Auxogyn, Inc., has raised $34.32 million of a planned $40 million round of funding according to a regulatory filing Diagnostic and other technologies focused on women’s reproductive health
SteadyMed Therapeutics, Inc., has raised $39.95 million in its IPO according to press reports Patch-pump drug delivery technology
Hansen Medical, Inc., has raised $35 million in a round of funding according to a regulatory filing Intravascular robotics

For the complete list of medtech fundings in March 2015, see link.

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

Ablation technologies to reach $16.8 billion

In 2013, energy-based tissue ablation tools and techniques were used in hundreds of millions of procedures required, generating an estimated $12.4 billion in cumulative global sales. These total sales are projected to register a healthy growth over the forecast to the year 2020, reaching $16.8 billion by that time.

A new report published by Smithers Apex covers the global market for energy-based tissue ablation products. See link.

New medical technologies at startups, February 2015

Below is a select list of the medical technologies under development at startups recently identified and included in the MedMarket Diligence startups database:

  • Intra-thoracic surgical access technologies
  • Surgical drill guidance system
  • Heart valve replacement technology
  • Devices and biologics for use in foot and ankle fixation
  • Minimally invasive spine procedures and implantables

For a historical listing of technology under development at these starups, see link.

Medtech Financings, February 2015

Fundings for medical technologies in February 2015 stand at $227 million, led by the $38.3 million funding of K2M Group, followed by the $36 million funding of HeartFlow.

Below are the top fundings for the month.

Company, funding Product/technology
K2M Group has raised $38.3 million in a round of funding according to press reports Minimally invasive spine surgery technologies
HeartFlow has raised $36 million in a round of funding according to press reports Non-invasive diagnosis of coronary artery disease
Invuity, Inc., has raised $20 million in a round of funding according to press reports Technologies to improve access and visualization in minimally invasive surgeries

For the complete list of medtech fundings in February 2015, see link.

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

Wound Closure Technologies Fragmented, But Growing through 2018

Wounds have been closed and secured through the use of sutures and bandages since ancient times, using equipment ranging from threads made of a variety of organic materials, to tight wrappings. In the modern medical age, suture materials have evolved through a succession of stages from non-resorbable, to resorbable, to stapling devices. Surgeons still primarily use sutures for wound closure and securement—sutures are cheap, familiar and work most of the time. However, it is important to discuss this class of products and their relationship with adjunctive measures, and with newer products under development.

There are six major device markets in the field of wound closure:

  • Sutures and Staples
  • Vascular Closure Devices
  • Surgical Sealants and Glues
  • Surgical Hemostats
  • Cyanoacrylate Glues for External Closure
  • External Closure Tapes and Strips

The markets for some segments in wound closure, especially sutures and staples, surgical tape, hemostats, and sealants and glues, are highly fragmented. There are literally hundreds of companies with products that fall into the wound closure arena. Barriers to entry are low for some segments, such as medical tapes, sutures and staples, and high for others, such as fibrin and others. In addition, many companies purchase from the original equipment manufacturers (OEM), and rebrand the products to sell under their own name. While this may obscure who the market leaders are, there no little doubt, however, that the overall market leader for the products in wound closure is Johnson & Johnson (JNJ), which markets devices that fall under six of the seven product categories. JNJ is followed by Covidien and B. Braun/Aesculap, which together make up the three largest players in this space.

Global Market Shares in Wound Closure 2014

Screen Shot 2015-02-23 at 4.02.15 PM

Source: MedMarket Diligence, LLC; Report #S192.

Growth in this market is still driven by new technologies with potential to not only penetrate well-established wound closure technologies but also gain procedure volume in novel applications. Below is illustrated the relative compound annual growth rates in sales of each of the major types of wound closure technologies.

Sales Growth in Wound Closure Types, 2014-2018

Screen Shot 2015-02-23 at 4.08.14 PM

Source: MedMarket Diligence, LLC; Report #S192.

Technologies at Medtech Startups, December/January

Below is a list of the medical technologies under development at startups identified in December 2014 and January 2015 and included in the Medtech Startups Database:

  • Device to enable office-based placement of tympanostomy tubes.
  • Surgical wound closure device technology
  • Pelvic neuromodulation for urinary incontinence, fecal incontinence, chronic pelvic pain, others.
  • Device designed to treat blood plasma to improve its ability to remove lipids from atherosclerotic plaque.
  • Regenerative medicine
  • Patient-specific surgical instruments for treatment of joint injuries.
  • Surgical sensors/probes, including gamma probe for use during radiosurgically-guided procedures.
  • Biodegradable medical implants.
  • Novel device to monitor inflammation of the gastrointestinal tract.
  • Surgical instrumentation including surgical perforation guide.
  • Technology for improved treatment of atrial fibrillation.

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

Medtech fundings for January 2015

Fundings for medical technologies in January 2015 stand at $361 million, led by the $78.3 million IPO by Entellus Medical, followed by the $49.76 million funding of Humacyte, and the $31.65 million funding of CardioFocus.

Below are the top fundings for the month thus far:

Company, funding Product/technology
Entellus Medical, Inc., has raised $78.3 million in an initial public offering according to press reports Minimally invasive devices for the treatment of chronic and recurring sinusitis
Humacyte, Inc., has raised $49.76 million of a planned $73.76 million round of funding according to a regulatory filing Vascular grafts and other tissue-engineered grafts based on acellular extracellular matrices
CardioFocus, Inc., has raised $31.65 million of a planned $33.2 million round of funding according to a regulatory filing Endoscopic ablation for the treatment of atrial fibrillation
Transcend Medical, Inc., has raised $29.27 million in a round of funding according to a regulatory filing Devices for the treatment of glaucoma
EarlySense Ltd has rasied $20 million in funding from Samsung Electronics according to press reports Non-contact vital signs monitoring
Vascular Dynamics, Inc., has raised $16.85 million in a Series B round of funding according to the company Minimally invasive treatment of refractive or resistant hypertension

For the complete list of medtech fundings in January 2015, see link.

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