$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
Conner Hazelrigg’s Sunshine Box lights up the dark in Haiti
Conner Hazelrigg, 23, never considered herself an entrepreneur. A few years ago, she was a student at William Jewell College, keeping herself busy playing tennis and basketball, and working towards a double major in physics and math. “I always wanted to do something with engineering and architecture — I loved science,” Hazelrigg said. “But I…
KC Crew Riverfront project casts Millenial net with sand volleyball, kickball
A new recreation sports complex is part of a series of developments along Berkley Riverfront Park that hope to attract more Millennials to downtown Kansas City. Kansas City-based rec sports league KC Crew has partnered with Port KC to open six sand volleyball courts and two kickball fields toward the east end of the park,…
What the Flokk? Startup to connect residents with area events
For Trey Rhedrick, the alarm sounds at 5 a.m. He rises before the sun to work at Black & Veatch as a chemical engineer project manager. When finished at 5 p.m., Rhedrick conducts a couple meetings for his other gig before heading home to snarf down dinner. For the next six to eight hours —…
Sprint Accelerator graduate acquired by medical giant
A large California-based health care provider recently announced that it acquired Medicast, a graduate of the Kansas City-based Sprint Mobile Health Accelerator program. Providence St. Joseph Health purchased the firm for an undisclosed amount for its logistics and management platform that automates remote care delivery. In 2014, Medicast participated in the inaugural, three-month program at…