$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
Rapidly scaling PayIt raises another $90M amid ‘long-overdue transformation’ of govtech
Growth and continued innovation are on the docket as Kansas City-filed PayIt closes a $90 million funding round. Led by the global firm Macquarie Capital Principal Finance, the capital injection is expected to keep fueling PayIt’s commitment to simplify the way people interact with the public sector in everyday places like the DMV and court…
Outside look from the inside: What a visiting economic fellow found in KC (rival BBQ is just a taste)
After spending his summer in Kansas City, the metro reminds Alvin Gusman a lot of his hometown, Austin, he said. The Texas A&M student is in the last two weeks of his 10-week Equity in Economic Development Fellowship with the Economic Development Corporation of Kansas City (EDCKC), reflecting on the experience. “I’ve actually really enjoyed…
55-shoe collection to online sneaker platform: How Nazr El-Scari opened a market to affordable, rare kicks
Sneakers are a distinct statement of individuality, Nazr El-Scari said, lacing up his venture’s sole purpose: to put dream shoes within reach “Growing up, I remember the excitement of opening a new pair of shoes. My older brother and his friends always had the dopest sneakers that you couldn’t find anywhere in Kansas City; it…
Fairwave adds another Minneapolis coffee company to its fresh-brewed collective alongside Messenger, Roasterie
FairWave Coffee Collective has pulled another shot of growth, serving up news Tuesday of its acquisition of a second Minneapolis-based purveyor in as many years. “We are thrilled to welcome Up Coffee Roasters to the FairWave collective,” Suzanne Gunning, vice president of marketing, said in a release. The acquisition keeps Kansas City-based FairWave on track with…