Metactive announces nearly $3M combined in funding round, government grant
March 8, 2018 | Bobby Burch
Fairway-based Metactive has raised a $1.2 million round to accelerate the development of its products for the treatment of neurovascular, peripheral vascular and structural heart diseases.
Dr. Nick Franano
The round included Kansas City-based Mid-America Angels, as well as Serra Ventures. Founded by CEO Nick Franano, Metactive has raised more than $10 million to date.
In addition to the round, Metactive announced Thursday it was awarded a $1.5 million SBIR (Small Business Innovation Research) grant from the National Heart, Lung, and Blood Institute of the National Institutes of Health to commercialize its embolic device for the occlusion of peripheral arteries and veins.
“This new investment capital and grant funding will be used to continue the development of our novel platform of embolic products,” Franano said in a release, “which we believe will provide physicians with devices that are exceptionally deliverable, can be placed with a high level of precision, are resistant to migration, and provide immediate, complete, and lasting occlusion.”
Embolization is a treatment that blocks the flow of blood in specific segments of arteries and veins, enabling doctors to divert blood away from cancerous tumors and other abnormal tissues. More than 150,000 peripheral vascular embolization procedures are performed each year around the world using coils and vascular plugs, which can be difficult to use and often result in incomplete treatment.
Franano also is the CEO of Flow Forward Medical.
Featured Business
2018 Startups to Watch
stats here
Related Posts on Startland News
A St. Joe CEO handed him a franchise after graduation; two years later, the risk is paying off
Spencer Engelman’s expectations for his post-college career were shredded by an offer he couldn’t refuse. The Northwest Missouri State University graduate was awarded a business of his own — minus the franchise fee — by a veteran entrepreneur who had visited one of his classes. “It’s a crazy opportunity,” said Engelman, who now operates a DocuLock…
What a catch: Kansas City fandom creates custom appeal for taco-loving cartoonist vibe
Drawing from Kansas City’s spotlight moments — whether trendy and new or iconic and timeless — W. Dave Keith balances a quirky aesthetic with a practical focus on what will actually sell. “I’ve slowly learned that if I want to make money off this business, I need to make stuff that people want to buy,”…
Power through purpose: How a winding journey led this eco devo steward to deep-rooted impact
Editor’s note: The following story was written and first published by the Economic Development Corporation of Kansas City, Missouri (EDCKC). Click here to read the original story. [divide] Going behind the scenes of CCED with the people who make it happen Some people are drawn to city-building because of the bricks and steel, the architecture, the skyline, the…
Missouri’s weapon in the AI race with China: KC tech companies, says GOP lawmaker
As artificial intelligence reshapes the way Kansas City works, civic and elected leaders want to ensure small businesses and the region’s tech community have seats at the table. Federal regulation could help, said Eric Schmitt. “For me, [it’s about] making sure that the big tech companies don’t block out a lot of the innovators, say…