Investors pump another $8.8M into KC medical device startup, bringing funding total to $20M+
March 31, 2020 | Startland News Staff
A Fairway-based medical device company is getting to the heart of its entrepreneurial journey, securing a fresh $8.8 million in Series A financing, Dr. Nicholas Franano announced Tuesday.
The additional influx to Artio — rebranded from “Metactive” earlier this winter — brings the startup’s total capital raised to more than $20 million. The company has spent years developing groundbreaking, best-in-class products for the peripheral vascular and neurovascular markets, said Franano, founder, president and CEO of Artio.
“We appreciate the strong support from our new and existing investors,” he said. “Our team is looking forward to making our innovative products available to physicians and patients.”
Click here to see why Artio/Metactive was named one of Startland News’ Kansas City Startups to Watch in 2019.
Funds from the latest round are expected to help Artio obtain 510(k) marketing clearance from the U.S. Food and Drug Administration (FDA) to market its Solus Gold Embolization Device in the United States.
Solus Gold Embolization Device
The Solus Gold is the first metal implant to provide a solid barrier to blood flow, and is developed for peripheral vascular embolization — a minimally invasive procedure that blocks or reduces blood flow in blood vessels for patients experiencing life-threatening bleeding and other serious medical conditions.
The combination of a low-profile, flexible delivery system and a detachable gold metal implant is designed for passage through tortuous blood vessels, precision placement, and immediate vessel occlusion after placement of a single device, according to the company.
Franano’s team also has revealed two other next-gen embolization products, the Solus Flex device and Aneura system.
Click here to learn more about these peripheral vascular solutions.
“Artio is developing a strong portfolio of disruptive, next-generation peripheral vascular and neurovascular embolization products, and we were thrilled to help lead the latest round of funding,” said Nathaniel Hagedorn, founder and CEO of Northpoint Development. “I have been incredibly fortunate to have so many people help me build my business and am happy to ‘pay it forward’ to a fellow entrepreneur with a clear vision and accomplished team.”
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