$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
Spanish-language business law class targets KC resource gap
¡Llamando a todos los emprendedores! Language isn’t a barrier to entrepreneurial spirit, Adrienne Haynes said, and it shouldn’t prevent Kansas Citians from finding business success just because they don’t understand the nuances of startup lingo or legal processes. “Whether you’re a black- or brown-owned company, whether you’re woman-owned, whether Spanish is your primary language, or…
Tech startup TVWIZZ puts channel choice in consumers’ hands
You’ve heard it before: Millennials are killing the cable TV industry. With millions of young people “cord cutting” in lieu of streaming services like Netflix and Hulu, traditional cable viewership has dropped by more than 40 percent, according to Nielson. For many, it comes down to price, said Michael Hockey, founder of TVWIZZ, a free,…
KCultivator Q&A: Diana Kander on Pitbull, honey badgers, stand-up material
Editor’s note: KCultivators is a lighthearted profile series to highlight people who are meaningfully enriching Kansas City’s entrepreneurial ecosystem. Check out our features on Victor & Penny’s Erin McGrane, SEED Law’s Adrienne Haynes, Code Koalas’ Robert Manigold, Prep-KC CEO Susan Wally and community builder Donald Carter. Early in her career as an innovation coach, Diana…
Startup transforms students into teachers for educators’ diversity training
Conversations about race, power, privilege and oppression are being had across the country every day. And Kiara Butler believes there is no better group to lead these discussions than young people, she said. “Students are already having these conversations every day,” said Butler, co-founder and CEO of Diversity Talks. “It’s the adults that don’t necessarily…