$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
The Lean Lab partners with 4.0 Schools to innovate KC education
More than 100 years ago, our education system was designed and built to prepare an early-1900s workforce for the industrial age. Today, children are learning with iPads and Youtube, but the bones of the traditional liberal arts structure remain similar to what our great-grandparents experienced. Local education innovation incubator The Lean Lab hopes to change…
Google Fiber nixes free Internet offering in Kansas City
It’s often said there’s no such thing as a free lunch. And in Google’s case, there’s no such thing a free fiber connection — at least anymore. The tech titan last week nixed its free Internet offering, which dished out download speeds of 5 megabits-per-second and upload speeds of 1 mbps. Google has offered the…
When your tech becomes an expensive paperweight
Here’s this week’s dish on expensive paperweights, company culture and bootstrapping. Check out more in this series here. The Verge: Nest is permanently disabling the Revolv smart home hub In a shot across the bows of any early-adopter interested in startup tech, Nest announced that it’s shutting down Revolv’s IoT smart home hub. Google-owned…
QM Power snags $9M round for high-tech electric motor
Kansas City-based QM Power recently raised significant capital to accelerate development of its electric motor that the company says will transform its industry. The tech firm raised $9.06 million from undisclosed investors to boost development of the “Q-Sync Smart Synchronous Motor.” QM Power says the motor is as much as 80 percent more efficient…