$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
Farmobile lawsuit claims dismissed, CEO says ‘Truth won out and justice was served’
A more than two-year legal dispute over trade secrets has hit a milestone, Farmobile announced Friday, as a federal judge dismissed all claims against the Leawood-based farm data firm. “We welcome the court’s decision. Truth won out and justice was served,” said Jason Tatge, CEO of Farmobile. “Farmobile takes great pride in the development of…
Edcoda founder after pivot to new edtech app Boddle: ‘I wish I had failed faster’
Clarence Tan held onto his startup Edcoda longer than he should have, the founder admitted, but his pivot to a new edtech learning app, Boddle, should prove a more filling fit for users. “Boddle has a much better underlying vision and mission, as well as being better in terms of how it would work in…
New STEAM Studio ‘pop-up’ lab planned for Rockhurst library along Troost
With its quiet atmosphere and stacks of source materials, the bottom floor of the Greenlease Library at Rockhurst University is a great place to study or do research. But it doesn’t necessarily strike one as a state-of-the-art design thinking and learning lab — yet. Starting this summer, that section of the university’s library will be…
City: Best way to avoid tickets in downtown KCMO, Crossroads? Pay via ParkMobile app
Unsafe parking conditions in the city’s downtown business districts have spun out of control, prompting increased ticketing, said Matt Staub. The ParkMobile app can reduce such headaches for motorists searching for an open spot along busy Kansas City streets. “People are kind of making up their own parking spaces, parking in ‘no-parking’ zones — all…