$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
In second term, Mayor Q says he’ll help get City Hall out of entrepreneurs’ way as they build a more diverse economy
Creating economic equity in Kansas City goes hand in hand with building a sustainable city, said Mayor Quinton Lucas. “We will not be the city that we need to be — we won’t have the workforce, the entrepreneurs that we need — if we’re not actually investing in equitable tools in any number of ways,”…
Sandlot Goods takes a swing at a brick and mortar; new JoCo storefront expected to be a home run with brand’s fans
Sandlot Goods — Kansas City’s only local hat manufacturer — is hoping to score big with its first, dedicated, standalone retail space. The new location at Park Place in Leawood — 11530 Ash Street — is slated for a soft opening Aug. 15 and a grand opening Sept. 16, shared Garret Prather, Sandlot vice president…
‘Oppenheimer’ actor says new Missouri tax incentives could bring investors, more film productions to KC
David Dastmalchian’s screenplays for movies set in Kansas City now have a realistic chance to be filmed in and around his hometown, said the acclaimed actor, writer, and producer who grew up in Overland Park. Recently-signed legislation paves the way for increased film production in Missouri by reauthorizing — and strengthening — tax credit incentives…
She witnessed short-staffed hospitals as a COVID patient; How her ‘Airbnb for health care workers’ could save lives like hers
After her own hospitalization with COVID-19, Shapree’ Marshall set out to make sure local hospitals have adequate staffing to care for the community, she shared. In February 2022, Marshall — now a 2023 Pipeline Pathfinder cohort member — founded A Traveled Path Homes, which she describes as Airbnb for the medical industry. She plans to…