$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
Recreational golf can be lonely without community; this Olathe-built app brings players together on the green
He set out to create an all-encompassing, tech-enabled golf platform that would make his favorite sport more fun, accessible, convenient, and transparent — but Somanath Chilukuri already knew the hazards of the crowded course ahead of him. “Today there is so much app overload on people,” said Chilukuri, an Olathe IT professional and the founder…
$2M federal grant boosts K-State efforts to expand region’s digital manufacturing capabilities
Startland News’ Startup Road Trip series explores innovative and uncommon ideas finding success in rural America and Midwestern startup hubs outside the Kansas City metro. This series is possible thanks to the Ewing Marion Kauffman Foundation, which leads a collaborative, nationwide effort to identify and remove large and small barriers to new business creation. MANHATTAN,…
Yardball Kickstarter ends with six-figure funding (and rapid hiring for production)
When Sandlot Goods took to Kickstarter to crowdfund what it called “the perfect ball for the game of catch,” the world listened. More than 2,200 backers from across the globe pledged funds to secure their own Yardball — lighter than a baseball and sewn by hand with soft, premium leather. “We are absolutely thrilled with…
Allyship means mistakes plus action: New project draws parallels between innovation, DEIB
It’s time for coworkers to move beyond best intentions, said Ghadeer Garcia and Mark Logan, announcing the launch of a new project aimed at pushing allies in the workplace to action. The co-founders created the Ally Lab project through Idealect, an equity-centered social innovation company in Kansas City. The Ally Lab will offer knowledge and…