$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
Manual entrepreneurship, refuge: ‘Farming is just the vehicle,’ says BoysGrow founder
“What’s the word?” “Respect!” shouted the teenage farmhands at BoysGrow, a two-year program dedicated to teaching entrepreneurship to urban youth through agriculture and farming. The 10-acre BoysGrow farm outside Grandview plays host to 30 to 40 boys, ranging in age from 15 to 17. They work, eat and learn on the nonprofit farm three days…
OP greenlights Edison District walking community envisioned by former startup executive
Less than a month after announcing the launch of a second coworking location in Johnson County, the former startup executive behind Edison Spaces revealed news of a new project: a mixed-use district that repurposes a block previously defined by its church grounds. Centered around a five-story office building that features a chef-driven food hall, the Edison…
High-growth additions: PayIt, Main Street Data earn slots in $19M KCRise Fund portfolio
Investing in Kansas City startups ultimately brings greater interest from outside funding sources, said Darcy Howe, KCRise Fund founder and managing director. “We continue to be impressed by the increasing early stage deal flow in our region,” Howe said Tuesday in announcing the additions of Kansas City-based PayIt and Main Street Data to the fund’s…
Digital Sandbox KC nabs $950K to continue regional startup impact
Already with a lasting legacy of growing the area entrepreneurial ecosystem, Digital Sandbox KC has received significant support that should fuel its program for years to come. The proof-of-concept incubator was recently awarded a combined $950,000 — $450,000 from the Ewing Marion Kauffman Foundation and $500,000 from the Missouri Technology Corporation. The two grants will…