$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
Thai Orchid opens Northland location with homey street food set to wow its new neighbors
Even though the new Thai Orchid restaurant in Kansas City’s Northland proudly pays homage to the Rojjanasrirat family’s culinary legacy in Mission, its second-generation owner wants to shock the taste buds of diners who are unfamiliar with the business’ story. “I want the reaction of the people who try our food to be, ‘Wow! That’s…
C2FO accesses $30M investment with World Bank-backed IFC to expand KC firm’s working capital platform
A just-announced capital infusion for Leawood-built C2FO reflects a shared commitment with global partners to boosting jobs and strengthening economic opportunities — notably for micro, small and medium enterprises in emerging markets worldwide. The $30 million funding round features investment from the International Finance Corporation (IFC), a member of the World Bank Group, and existing…
Park capping I-670 gets an official name: South Loop project to honor longtime Republican bridge-builder
Kansas City’s high-profile South Loop Project — a proposed sustainable urban park capping a portion of I-670 — now has a name that pays homage to a leader who played a key role in launching the project: Roy Blunt Luminary Park. “As a working title, the South Loop Project has served us well,” said Jeff…
Not just a pet project: Why this KC e-commerce team adopted a dog supplement brand as its own
The Morgans — the family behind Marknology, a bootstrapped digital marketing firm specializing in Amazon sales — are taking a dog supplement brand that they built as a client to the next level now as owners, they shared. Waggedy — veterinarian-formulated supplements to keep dogs healthy and active, launched by Ben Bellinson in 2015 in…