$12M capital infusion pumps Prairie Village-based Artio Medical to $46M in funding
April 29, 2021 | Startland News Staff
A Johnson County medical device company announced Thursday the closing of an additional $12 million tranche of Series A financing — advancing the startup’s tech toward clinical study and commercialization with the backing of a leading Kansas City real estate developer.
“We are thrilled to close this round of financing with strong support from existing investors who share our mission to provide better patient outcomes,” said Dr. F. Nicholas Franano, president and CEO of Artio. “The Artio team is focused on the road ahead as we advance multiple development programs and prepare for commercialization of our first product.”
The funding brings Artio’s total capital raised to $46 million, Franano said.
Click here to see why Artio Medical, formerly also known as Metactive, was named one of Startland News’ Kansas City Startups to Watch in 2019.
Led by existing investors Sarah Hagedorn and Nathaniel Hagedorn — founder and CEO of Northpoint Development — the deal announced Thursday will be used to accelerate the development of Artio’s peripheral vascular product pipeline, which is highly complementary with significant overlap in call points and procedures, the company said.
The Amplifi Vein Dilation System, which aims to prepare hemodialysis patients for successful vascular access site creation, has shown promising results in initial clinical testing, Artio said in a press release. And the Solus Gold Embolization Device comprises a low-profile, flexible catheter assembly and a non-porous, gold balloon-like implant and is designed for precise placement and immediate vessel occlusion. The device has shown exceptional performance in preclinical testing, the company said.
“Nick has built a broad, diverse portfolio of highly innovative products at Artio and is assembling a world-class team to develop and commercialize them,” said Nathaniel Hagedorn. “We were pleased to have the opportunity to lead this round of financing and to invest additional capital to move the company and its mission forward.”
Just over a year ago, Artio announced its rebranding from “Metactive” and a fresh $8.8 million round to help boost its best-in-class products for the peripheral vascular and neurovascular markets.
Click here to learn more about Artio Medical.
Featured Business
2021 Startups to Watch
stats here
Related Posts on Startland News
Women investors create intentional connections with female founders
Female entrepreneurs receive only about 2 percent of all venture capital but own 38 percent of businesses in the United States, the Harvard Business Review reports. That’s in part why a group of women investors in Kansas City is planning to meet with women entrepreneurs to foster better relationships. Investors from the KCRise Fund, Royal…
Not just for students: MCPL expands digital tool set for entrepreneurs
Editor’s note: The following content is sponsored by Mid-Continent Public Library but independently produced by Startland News. Dusty books. Tedious silence. Cranky shushers. Many stereotypes come to mind when one thinks of a library. But for those who haven’t recently visited these sanctums of knowledge, you might be surprised to see their transformations from canvas…
Children’s book turns KC’s Mayor Sly into time-traveling history buff
Kansas City’s colorful mayor was made for the pages of a children’s book, Audrey Masoner said. He gets his hand-drawn debut in “Mayor Sly and the Magic Bow Tie,” a project co-authored by Masoner and Mayor Sly James’ daughter, Aja James. The book is featured in Startland News’ 2017 Made in Kansas City Gift Guide.…
Storyteller sketches path from former Soviet Union to KC-based Sibukop
The teeth marks on Jasur Rakhimov’s Apple Pencil aren’t his own. They belong to his young daughter, Jasmira, who — despite a new protective pencil box — still loves to chew on the tools of his trade, he said. “Everybody and everything has its own story,” reflected Rakhimov, running his fingers across the indentions from…