$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
Sharing economy hits agriculture with FarmLink service
A new-age economic model is entering the world’s oldest industry. Kansas City-based FarmLink introduced this week its Web-based farm equipment sharing community MachineryLink Sharing, which the company says will enable farmers to save money and generate revenue. “Agriculture is in the midst of its next big transformation, where new thinking and business models that have revolutionized…
Metactive lands $224K for nonclinical studies
Olathe-based Metactive Medical recently secured a grant that will continue the development of its embolization device that fights cancer. The National Institutes of Health awarded Metactive $224,000 that will fund nonclinical studies on the performance of the company’s Blockstent Microcatheter embolic devices for the occlusion — or blockage — of peripheral arteries and veins. “We believe…
Mighty Handle grips massive market with Walmart deal
A Kansas City startup recently grabbed a retail deal that will put its product in front of millions of customers. Mighty Handle last week signed a deal with Walmart stores that will roll out its product to help users carry multiple shopping bags at about 3,500 stores nationwide. So what’s it mean for Mighty Handle…
High-tech car showroom parks in Crossroads
The days of pushy, plaid-suited car salesmen is over at a new dealership teeming with technology in Kansas City’s Crossroads Arts District. Luxury car dealer Pure Pursuit Automotive recently set up shop in one of Kansas City’s trendiest districts, incorporating such technology as holographic attendants and personal tablets. Those technologies and others aim to create…