These medtech companies raised the most VC in 2018
These medtech companies raised the most VC in 2018

Venture capital firms invested more than $2.9 billion in medical device companies in 2018 — a slight increase from the $2.8 billion raised in 2017, according to a MoneyTree report from PricewaterhouseCoopers (PwC) and CB Insights.

Both the first and second quarters of 2018 saw an increase in investments, totaling nearly $778 million and $786 million respectively. The third and fourth quarters were slightly lower, with medtech companies raising $738 million in Q3 and nearly $641 million in Q4.

There were 218 deals in 2018, a slight decrease from the 229 deals involving medical device companies in 2017. There was 55 deals in Q1, 68 in Q2, 48 in Q3 and 47 in Q4.

The companies that are raising VC cash are doing everything from cardiac arrhythmia detection to proton therapy for cancer patients.

Read on to discover the top medtech venture capital raises of 2018.

10 (tied). InfoBionic
Lowell, Mass.

Venture capital raised: $50 million

InfoBionic raised $50 million in Q3 last year during its expansion stage of development, according to a MoneyTree report.

The digital health company is creating patient monitoring solutions for chronic disease management with a focus on cardiac arrhythmia. InfoBionic currently markets its MoMe Kardia, which is a remote cardiac arrhythmia detection and monitoring system that can mimic in-hospital telemetry data.

10 (tied). Akouos
Boston
Venture capital raised: $50 million

Akouos raised $50 million during Q3 of 2018 in its early stage of development, according to a MoneyTree report.

The company is currently developing therapies and delivery systems to prevent hearing loss while restoring hearing in genetically-defined patient populations.

9. Relievant Medsystems
Minneapolis
Venture capital raised: $58 million

Relievant Medsystems raised $58 million in Q2 of 2018 during its later stage of development, according to a MoneyTree report.

The company provides a therapy that is supposed to eliminate back pain while preserving other therapeutic options. Its Intracept System is a minimally-invasive procedure that uses radiofrequency energy delivered through a small access tube into the vertebral body to ablate the basivertebral nerve.

8. Earlens
Menlo Park, Calif.
Venture capital raised: $78 million

Earlens raised $78 million in Q4 during its later stage of development, according to a MoneyTree report. The company was also one of the top 10 companies that raised the most VC in 2017, raking in $38 million in Q2.

Earlens makes hearing aids that use light and a small lens on the eardrum to activate the body’s natural hearing system. The Earlens devices has a broader frequency range with minimal feedback.

7. Millipede
Santa Rosa, Calif.
Venture capital raised: $90 million

Millipede raised $90 million in Q1 of 2018, according to a MoneyTree report. Boston Scientific was one of its investors early last year.

The company is currently developing a percutaneous solution for mitral valve repair.

6 (tied). RefleXion Medical
Hayward, Calif.
Venture capital raised: $100 million

RefleXion Medical raised $100 million in Q2 of its expansion development stage in 2018, according to a MoneyTree report.

The company is developing a biologically-guided radiotherapy system for cancer treatment. The technology causes tumors to continuously signal their location during treatment.

6 (tied). Gossamer Bio
San Diego
Venture capital raised: $100 million

Gossamer Bio raised $100 million during Q1 of 2018, according to a MoneyTree report.

The company is developing therapeutic products that specialize in oncology, inflammation, immunology and fibrosis. Gossamer Bio currently has a number of therapies in its pipeline for a variety of conditions, including inflammatory bowel disease, chronic spontaneous urticaria and pulmonary arterial hypertension.

5. Procept BioRobotics
Redwood City, Calif.
Venture capital raised: $118 million

Procept BioRobotics raised $118 million during the first quarter of 2018, according to a MoneyTree report.

The company has developed a surgical product known as the AquaBeam for transurethral resection of prostate tissue. It is also an image-guided tissue removal system that uses heat-free, high-velocity water jet technology to resect and remove tissue.

4. Outset Medical
San Jose, Calif.
Venture capital raised: $132,000,000

Outset Medical raised $132 million during Q3 last year in its later stage of development, according to a MoneyTree report. The company was also one of the top 10 companies that raised the most VC in 2017, raising $76.5 million in its second quarter.

Outset Medical has developed a consumer dialysis machine that purifies its own water and generates dialysate when needed. The Tablo Hemodialysis System allows patients to manage treatments by themselves in a clinic or from the comfort of their home.

The company is also using new sensor technology to help move hemodialysis into the home. The company’s Tablo home hemodialysis platform features a touchscreen interface and is small in size, but its effectiveness lies in its sensors.

3. Centinel Spine
New York
Venture capital raised: $132,250,000

Centinel Spine raised $132,250,000 during the first quarter of 2018, according to a MoneyTree report.

The company specializes in spinal devices and is developing stand-alone, no-profile, integrated interbody fusion technology.

2. Mevion Medical Systems
Littleton, Mass.
Venture capital raised: 
$150 million

Mevion Medical Systems raised $150 million during the second quarter of 2018 in its later stage of development, according to a MoneyTree report.

The company has developed a proton therapy system that is used in-radiation treatment for cancer patients. Its Mevion S250 proton therapy platform is the only modular, single-room proton therapy system on the market, according to the company.

1. Auris Health
Redwood City, Calif.

Venture capital raised: $220 million

Auris Health raised $220 million in Q4 of 2018 in its later stage of development, according to a MoneyTree report.

The company is the creator of the Monarch platform for diagnostic and therapeutic bronchoscopic procedures.The platform integrates robotics, micro-instrumentation, endoscope design, sensing and data science.

Related: J&J acquires surgical robotics firm Auris Health for $3.4bn

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