This Week in Digital Health’s Post

🏥 Big strides for SPRY Therapeutics! The SaaS platform for physical therapy professionals has raised $15 million in a new funding round led by Flourish Ventures, Together Fund, and Fidelity's Eight Roads & F-prime Capital, bringing its total funding to $25 million since its 2021 launch. Co-founded by Brijraj Bhuptani (former CTO of Ola) and Riyaz Rehman, SPRY is transforming clinic management by automating complex billing processes and enhancing patient engagement. With this new funding, SPRY is set to expand further into the US market and continue revolutionizing physical therapy management! 🚀💡 #HealthTech #SaaS #Funding #Innovation #SPRY #iAccelerate

💰 Moximed secures $91m financing to commercialise its MISHA knee system The new investors, including Cormorant Asset Management and Warren Point Capital, have participated in the financing round, along with existing investors. The existing investors include New Enterprise Associates (NEA), Future Fund, Advent Life Sciences, Gilde Healthcare, Vertex Ventures HC, GBS Venture Partners, and Morgenthaler Ventures. Moximed intends to use the proceeds from the financing round to advance the commercialisation of its MISHA Knee System in the US. Read more online: https://lnkd.in/efXVBGq2 📰 Follow Medical Device Developments to receive the latest medical device news daily and to subscribe to our weekly newsletter #MedicalDeviceDevelopments #medicaldevices #medicalmanufacturing

Toronto-based SpinaFX Medical has successfully closed its Series B funding round, raising CAD $5.3M in its final tranche. The funding, led by a strategic investor, will propel the development and regulatory approval of Triojection®, a minimally invasive therapy addressing the therapeutic gap in spinal care for contained herniated discs. Led by CEO Jeff Cambra, SpinaFX is revolutionizing back pain treatment with innovative, image-guided solutions that enhance access, reduce costs, and improve patient outcomes. Stay ahead in the startup world! 🌟 Get a weekly digest of key happenings and insights delivered to your inbox every Monday morning. Don't miss out—subscribe now: https://lnkd.in/eR7sehfi 🚀 #HealthcareInnovation #Funding #MedTech #SpinalCare

Ozone Treatment Device reaching new level

Funding News: Spry Therapeutics Raises $15 Million! Spry Therapeutics, a SaaS platform transforming physical therapy, has secured $15 million in a funding round led by Flourish Ventures, Together Fund, and Fidelity’s Eight Roads and F-Prime Capital. This brings the total funding to $25 million since its launch in 2021. 🌟 About Spry Therapeutics: # Founded: By Brijraj Bhuptani and Riyaz Rehman. # Focus: Automating clinic management for physical therapy professionals, including complex billing, patient engagement, and data management. # Growth: In just 18 months, SPRY has partnered with 105+ clinics across 30 states in the US, earning recognition as the top physical therapy software solution by G2. 💼 Expansion Plans: The fresh capital will fuel SPRY's expansion in the US market, helping clinics manage insurance reimbursements, cash flow, and improve overall operational efficiency. With a rapidly growing footprint, SPRY is set to redefine how physical therapy practices operate, offering advanced solutions compared to competitors like WebPT and Prompt Therapy Solutions Inc . At Aspirants Space (https://lnkd.in/gYkc-Ni8), we’re excited to see how SPRY is revolutionizing physical therapy. Tag someone interested in health tech or clinic management to join the journey! #AspirantsNews #SPRYTherapeutics #Funding #HealthTech #SaaS #PhysicalTherapy #Growth #TechTalent

Pulsed Field Ablation Innovator, Arga, has just raised €54 million in an oversubscribed financing round. The investors included Advent Life Sciences (UK), Earlybird Health (Germany), a new investor Gilde Healthcare (the Netherlands) as well as an undisclosed strategic investor. This start-up was founded by David Naele and Randy Werneth in 2020, to develop Coherent Sine-Burst Electroporation™ (CSE™), a next-generation cardiac ablation system for treating cardiac arrhythmias, including atrial fibrillation. Supporting Argá Medtech SA since its formation, Kellerhals Carrard advised on the Swiss contractual aspects of this round and collaborated with Wilson Sonsini Goodrich & Rosati from the US side. The Kellerhals Carrard team was led by Jean-Luc Chenaux (pictured) (Partner, M&A), and further comprised Frédéric Rochat (Partner, M&A), François Kaiser (Partner, M&A), Serge Migy (Partner, Tax) Virginie A. Rodieux (Partner, IP) as well as Cindy Liu-Ung and Joséphine Marmy (Senior Associates, M&A) and Brian Jurt (Tax advisor). Read the article >> https://lnkd.in/dJe2u5Qu #Legalcommunitych #legaladvisor #financinground

LaNua Medical, an Irish medtech device start-up, has raised €6 million in seed funding to bring its flagship Ecore solution to market

🛎️ We are pleased to announce that over the summer, we retired our 2016 innovation loan from the Netherlands Enterprise Agency (RVO). This loan helped us start our business and achieve many important milestones over the past several years. Thank you, RVO!!! ✨ In June, we announced a new debt financing agreement with Runway Growth Capital, which replaces the RVO loan and gives us access to more flexible capital as we approach upcoming milestones. Here are some notable milestones since the 2016 RVO loan: Clinical ✅ Submitted a De Novo application to the US Food and Drug Administration (FDA) for our ARC-EX System ✅ Published results of our Up-LIFT pivotal trial for ARC-EX Therapy in Nature Medicine ✅ Conducted several clinical feasibility studies for our investigational ARC-IM® Therapy, exploring the use of our ARC-IM System to restore movement and autonomic function after SCI and Parkinson’s disease ✅ Initiated clinical feasibility studies with our investigational ARC-BCI™ platform, pairing our ARC-IM System with an implanted brain-computer interface (BCI) to enable thought-driven movement Technological ✅ Completed initial development of the ARC-IM Neurostimulator, which has been implanted in humans in clinical feasibility studies since May 2022 ✅ Completed initial development of the ARC-IM Lead, which has been implanted in humans in clinical feasibility studies since May 2023 ✅ Completed initial development of the ARC-BCI System, which has been implanted in humans in clinical feasibility studies since late 2023 Corporate ✅ Secured investment from the Christopher & Dana Reeve Foundation in October 2019, continuing its long-standing support for spinal cord stimulation R&D ✅ Completed the largest pre-revenue MedTech IPO in European history, raising net EUR 80M on Euronext in October 2021 on top of a EUR 30M convertible note raised in early 2021 ✅ Completed a capital raise of 20M Euros in March 2024 and a financing agreement with Runway Growth Capital in June 2024, providing up to EUR 52.5M in additional capital over the next few years to fund upcoming milestones ✅ Gained equity research coverage from Stifel Bank, Bryan, Garnier & Co, KBC Securities, Degroof Petercam, and Kepler Cheuvreux Innovation ✅ Accrued more than 270 issued patents, strengthening and protecting our first-mover advantage ✅ Awarded 10 US FDA Breakthrough Device Designations across our ARC-EX, ARC-IM, and ARC-BCI platforms ✨ We are grateful to RVO for providing the financing in 2016 which helped us get started and moved us closer toward our goal to serve the spinal cord injury (SCI) community with breakthrough solutions. RVO’s belief in our vision demonstrates the importance of investment to drive innovation. 🚀 Hartelijk dank, RVO, voor het Innovatiekrediet! 🙏 🇳🇱 #EmpoweringMovement #SCI #Innovation https://lnkd.in/gjzx4arp

We’re wrapping up 2024 with a bang with the announcement of an oversubscribed $19M financing that we closed earlier this year, bringing the total capital invested in FastWave to over $40M! 💪🏼 This major milestone, led by Epic Venture Partners and M&L Healthcare Investments, will help fuel the ongoing regulatory and clinical initiatives of our next-gen intravascular lithotripsy (#IVL) platforms. A huge thank you to our investors for believing in our team and supporting the continued development of our next-level IVL technologies. We’re pumped to study them in multiple IDE studies next year! 🎤 𝐇𝐞𝐫𝐞’𝐬 𝐰𝐡𝐚𝐭 𝐨𝐮𝐫 𝐢𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐚𝐫𝐞 𝐬𝐚𝐲𝐢𝐧𝐠 𝐚𝐛𝐨𝐮𝐭 𝐅𝐚𝐬𝐭𝐖𝐚𝐯𝐞’𝐬 𝐩𝐨𝐭𝐞𝐧𝐭𝐢𝐚𝐥: "On every metric, FastWave's pace of innovation stands out. We are excited to be a part of helping FastWave build on their impressive cadence to reach the company’s next key clinical and regulatory initiatives." Bryan Edelstein, Managing Partner of Epic Venture Partners "FastWave is moving quickly and decisively to become best-in-class in the IVL space. We are excited to support the FastWave team, as they continue to take down milestone after milestone in their mission to save lives and offer this groundbreaking technology to all who need it." Dr. Art Lee, MD, Interventional Cardiologist and Managing Partner of Epic Venture Partners "FastWave Medical has all the hallmarks of a company poised for significant growth and impact. Their commitment to evidence-based development aligns perfectly with our investment philosophy, and we’re excited to be a part of a new era of IVL innovation that addresses the gaps left by current technologies." Dr. Steven Kum, Vascular Surgeon and Chief Medical Officer of M&L Healthcare Investments 🧑🏼💻 𝐀𝐧𝐝 𝐚 𝐰𝐨𝐫𝐝 𝐟𝐫𝐨𝐦 𝐨𝐮𝐫 𝐂𝐄𝐎 Scott Nelson:   "We are beyond thrilled to partner with physician-led investors like Epic and M&L who see the clinical promise and commercial viability of both our IVL systems. This round of stage-appropriate funding is a testament to the confidence the market has in our approach and takes us one step closer to our goal of empowering interventionalists across the world with next-level IVL therapies." 📰 See the full release here: https://lnkd.in/gsST27wy

LaNua Medical, an Irish medtech device start-up, has raised €6 million in seed funding to bring its flagship Ecore solution to market. The company, which won the ‘Big Ideas Competition’ at Enterprise Ireland’s Start-Up 2024 event in Dublin Castle earlier this year, is a a spin-out from University College Dublin (UCD). It was founded in 2024 by interventional radiologist Dr Cormac Farrelly, Tom Fitzmaurice a former vice president at Medtronic, and UCD biomedical engineers Dr Eoin O'Cearbhaill and Dr Sajjad Amiri. Read more here - https://lnkd.in/gzz3DVPw