Medical Design Briefs - April 2022 - 4

FROM
THE EDITOR
2021: Medtech's 'Strongest Year
Ever' for VC Financing
Venture capital funding for health
tech innovators is " often considered
an important indicator of their
value propositions and potential for
long-term success, " notes the Deloitte
Center for Health Solutions in an
article, " Trends in Health Tech
Investments. "
And,
if that's
true, 2021 definitely
hinted at a successful future for
medtech. The year-end report from market
research firm Evaluate Vantage puts
this trend into perspective.
Biopharma and Medtech Review 2021
presents it this way: " Medical device
companies have just concluded a storming
year for both acquisitions and flotations,
and that means venture backers
felt justified in ploughing their cash into
the sector. They have done so in a big
way - medtech has had its strongest
ever year for venture financing, with a
total haul of $9.9 billion. "
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With the focus squarely on the development
of tests to address the COVID19
pandemic, it is no surprise that diagnostics
developers " have done best over
the year, with liquid biopsy and COVID
test makers represented in the top 10. "
The report notes that cancer testing
company Caris Life Sciences, which
employs the " investor catnip of artificial
intelligence in its technology, " raised the
greatest single deal of the year with an
$830 million infusion in May.
The second-largest investment went to
UK-based CMR Surgical. The robotic
surgery group closed a $600 million
series D round in June. According to
Evaluate, the combination of these two
deals helped the second quarter of 2021
set a new record at $4.4 billion. This
compares to the previous record of $2.9
billion in the first period of 2017.
Diagnostics companies were strongly
represented among the top 10 investments.
Many are liquid biopsy developers,
with Caris, Freenome, and Intervenn all
developing products in this area. The others
offer COVID tests or testing services.
The pandemic appeared to play a
major role in the blockbuster infusion of
cash. According to the report, the pandemic
was a likely driver of the funding
rounds closed by Kry and Quanta. Kry,
which operates in the UK and France
under the name of Livi, provides video
consultation technology to connect
patients with healthcare professionals,
and Quanta makes home-based dialysis
machines.
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" It seems that nearly two years after
the coronavirus emerged, VCs still see
test makers as promising investment
prospects, " says the report. " In some
ways, there are encouraging signs that
the cash is being spread around to a
greater degree than in prior years. The
top 10 rounds made up just 31 percent
of the total VC haul, a relatively low proportion,
and the year's largest round is
smaller than in either 2019 or 2020. "
The report also provides insights into
the year's medtech M&A and IPO activity
along with analyses of the biopharma
sector.
Sherrie Trigg
Editor and Director of Medical Content
For a copy of the report, go to
4
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Medical Design Briefs, April 2022
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Medical Design Briefs - April 2022

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