5 More Private Medtech Companies to Keep Tabs On
MedTech analysts continue to keep a watchful eye on the private sector. Needham & Co.’s […]
MedTech analysts continue to keep a watchful eye on the private sector. Needham & Co.’s Mike Matson recently called attention to five private medical device companies he finds interesting, adding to three previous lists the analyst published earlier this year.
Matson was not the only medtech analyst keeping tabs on up and coming private companies in 2019. In January, Canaccord Genuity’s Jason Mills highlighted 16 potentially disruptive medtech companies in the private sector.
Here are the five companies Matson most recently highlighted.
Here are the five companies Matson most recently highlighted.
- 7D Surgical: Based in Ontario, Canada, 7D has developed a navigation system that uses machine vision, eliminates the need for intraoperative radiation associated with navigation, and can reduce the navigation component of surgical procedure times by 75% to 95%. Matson noted that the company’s total addressable market is currently about $2.4 billion globally.
- Ablative Solutions: This Kalamazoo, MI-based company has developed a renal denervation system for hypertension treatment. The company’s Peregrine System delivers dehydrated alcohol in small doses directly to the space outside of the renal artery to block the overactive signaling of the nerves around the kidney in order to reduce systemic blood pressure. Earlier this year the company raised $77 million to support its regulatory trials.
- Intrinsic Therapeutics: Based in Boston, MA, this company has a device designed to prevent disc material from extruding through large defects that remain in the outer rim of the disc after routine discectomy procedures. The Barricaid device is designed to seal the hole in the annulus to allow the surgeon to avoid aggressive removal of the soft portion of the disc during the procedure without concern of repeat disc herniations. Intrinsic raised $52 million this year to support its U.S. commercialization efforts.
- Orchestra BioMed: Earlier this year, FDA granted a breakthrough device designation for Orchestra BioMed’s Virtue sirolimus-eluting balloon (SEB) in the treatment of below-the-knee peripheral artery disease. The designation came just a few months after the New Hope, PA-based company announced its partnership with Terumo. The agreement included a $30 million up-front payment to Orchestra plus an equity commitment of $5 million. Virtue SEB is a novel, first-in-class drug/device combination product that delivers a sustained-release sirolimus formulation directly to the artery during balloon angioplasty without the need for a coating.
- Stimwave: Traditional spinal cord stimulation (SCS) systems incorporate leads that connect to an implantable pulse generator, Matson noted. But Stimwave’s Freedom SCS System incorporates a lead with a micro-receiver in it so only the lead needs to be implanted. “Management believes its product expands the SCS market which, in our view, could reignite growth,” Matson said.
Original Article: (https://www.mddionline.com/5-more-private-medtech-companies-keep-tabs)
