46 Most Promising Healthcare Startups of 2017 Spanning Four Key Sectors, with Health IT Firms Gaining Strongest Investor Interest

In May, the MedCity INVEST conference (Best Investment Competition) held in Chicago, USA, showcased a wide array of innovative medical products, signaling an optimistic future for the healthcare industry.

MedCity INVEST is the premier healthcare investment conference in the U.S. Midwest, dedicated to identifying promising startups. For over a decade, companies in biotechnology, medical devices, digital health, diagnostics, and pharmaceuticals have engaged with investors at this event. Prominent investment firms participating include AbbVie, Qualcomm Ventures, Mayo Clinic Ventures, Baxter, and Venture Investors.

This event was co-hosted by MedCity and the “China-US Healthcare Investment Network.” From November 2016 to January 2017, 46 startups selected from the initial application round were concentrated in four sectors: biopharmaceuticals, medical devices, diagnostic instruments, and healthcare information technology. All of these companies had completed one round of financing prior to their participation.

Each selected startup representative will have three minutes to present during the MedCity Invest conference, followed by a rapid-fire Q&A session with the venture capital jury on the company’s strategy and business plan. Finally, the same judge will determine the winner in each category and select the overall champion.

To accommodate the numerous participants in the field of healthcare information technology, competitors were divided into two categories: the first category comprises companies that have raised more than $2 million in funding, with this track sponsored by OSF Healthcare; the second category includes companies with less than $2 million in funding, sponsored by the Cedars-Sinai Accelerator, part of TechStars. VCBeat (WeChat ID: vcbeat) has compiled an overview of these companies.

1. NuvOx Pharma (Biopharmaceuticals)

Under the leadership of Evan Unger, NuvOx Pharma is developing a revolutionary nanotechnology product platform capable of treating life-threatening diseases through simple intravenous oxygen infusion. To date, NuvOx has completed Phase Ib/II oncology clinical trials and filed an Investigational New Drug (IND) application for a Phase II randomized clinical trial. The company has key clinical programs focused on stroke and sickle cell disease. Recently, NuvOx began collaborating with a former U.S. company to study perioperative blood loss.

2. Neocis (Medical Device)

Neocis has developed Yomi, a robotic navigation system targeting the dental implant market to facilitate easier and more precise implant procedures. Alon Mozes, the company’s co-founder and CEO, brings 15 years of experience working with startups in image-guided navigation applications and medical device companies. Yomi received approval from the U.S. Food and Drug Administration (FDA) this March.

3. Sandstone Diagnostics (Diagnostic Instruments)

Sandstone Diagnostics has developed a counting device to help men assess and track their sperm counts, thereby improving their fertility. The FDA-approved Trak Male Fertility Testing System is an over-the-counter testing protocol designed to challenge the notion that the reproductive health market focuses solely on women. Greg Sommer is the Chief Scientific Officer and co-founder.

4. Quantitative Radiology Solutions (Information Technology)

Quantitative Radiology Solutions has developed a clinical decision support tool for radiotherapy planning—the Automated Anatomy Recognition System—leveraging medical imaging technologies. Their product is designed to reduce the time required for analyzing and identifying anatomical structures and lesions in medical images from CT, MRI, and PET/CT scans, cutting recognition time from several hours down to 15 minutes. The company is led by CEO Joe Camaratta.

5. Cricket Health (Information Technology)

Cricket Health aims to enter the chronic kidney disease (CKD) treatment market by focusing on educational programs for patients at high risk of progressing to end-stage renal disease (ESRD). This support program is designed to help patients understand their treatment options, thereby enabling them to make informed decisions about their care more easily and in a timely manner. Arvind Rajan serves as the company’s CEO and co-founder.

Furthermore, investors have highly commended the outstanding performance and growth potential of 41 other startups. VCBeat provides brief introductions to these companies across four categories:

1、ClostraBio

ClostraBio is dedicated to alleviating the burden and anxiety associated with food allergies. As a preclinical-stage pharmaceutical R&D company, it aims to develop clinically effective and safe therapies for patients whose quality of life is limited by life-threatening food allergies. Inspired by microbiome discoveries at the University of Chicago, the company is pioneering treatments designed to prevent life-threatening allergic reactions to peanuts and milk. ClostraBio’s goal is to establish a new standard of care.

2、Corvida Medical

Corvida is designed to optimize the safe handling of hazardous drugs. The U.S. Occupational Safety and Health Administration (OSHA), the National Institute for Occupational Safety and Health (NIOSH), and The Joint Commission have confirmed that more than 8 million U.S. workers are exposed to chemotherapy agents or other hazardous drugs each year, significantly increasing the risks of cancer, reproductive toxicity, and genetic mutations. Current equipment suffers from drawbacks such as an inability to eliminate risks, susceptibility to errors, low efficiency, high costs, and difficult usability. The company is committed to developing affordable solutions that ensure safety and enhance productivity.

3、Essential Biotechnology

Essential Biotech Discovers New Approach to Cancer TreatmentEssential Biotech has developed a novel therapeutic approach using a proprietary antibody that inhibits CRR9, a protein found on cancer cells that is hijacked to enable survival under cellular stress and confer resistance to therapy. This breakthrough offers new hope for cancer patients. Although its initial application targeting ovarian cancer failed to meet demand, the company believes it can rapidly demonstrate safety and efficacy in clinical trials.

4、Great Lakes Neuroscience

Great Lakes Neuroscience is a pharmaceutical R&D company dedicated to developing treatments for primary progressive multiple sclerosis and amyotrophic lateral sclerosis (ALS), conditions that affect more than 75,000 people in the United States alone. One of the underlying mechanisms of these diseases is the hyperactivation of an enzyme in the brain called Cdk5, which leads to neuronal death. TP5 is a novel therapeutic agent that helps restore normal Cdk5 activity, thereby alleviating disease symptoms.

5、Novalex Therapeutics

Novalex Therapeutics is a startup pharmaceutical company developing novel anti-infective drugs to address emerging drug resistance issues. The company possesses a novel antibiotic scaffold that is significantly different from current antibiotics. This scaffold is being developed for Staphylococcus, including MRSA as monotherapy, and for Acinetobacter baumannii in combination therapy with colistin, an antibiotic currently serving as the last line of defense. This research and development is funded by federal government grants.

6、PepVax

PepVax is a biotechnology startup dedicated to developing novel immunotherapeutic biologics for the treatment of various cancers. Its proprietary development approach and innovative smartmid™ technology are designed with public benefit in mind, aiming to enhance efficacy, reduce side effects, and lower costs. The company focuses on advancing immunotherapies that are not only more effective but also safer and more affordable, with the ultimate goal of curing diseases.

7、ResQ Pharma

RESQ Pharma is a research and development company. Its flagship project, LipidRescue Therapy (LRT), is a treatment regimen for various non-opioid drug overdoses and poisonings, including all local anesthetics (such as lidocaine and bupivacaine), benzodiazepines, and psychotropic medications (all antidepressants). The company is committed to advancing the commercialization of LRT, an updated lipid emulsion approved by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) as a nutritional supplement. RESQ Pharma plans to submit applications for marketing authorization in both the U.S. and European markets.

8、RMD SCIENCES INC

The company’s product, RMD-101, demonstrates antitumor activity with near-zero side effects and toxicity. The anticancer efficacy of RMD-101 is at least five times greater than that of existing anticancer drugs, such as 5-FU and cisplatin used in the treatment of colon and breast cancer. Its potent anticancer activity has also been confirmed in other types of cancer cells, including melanoma and prostate cancer. Combining RMD-101 with existing chemotherapy agents will expand market opportunities.

9、SpineThera

SpineThera has designed and developed sustained-release agents, which are injectable medications administered in the spine or adjacent areas. This patented drug provides patients and physicians with a novel therapeutic option that can improve treatment outcomes, reduce risks, and lower overall treatment costs within niche or off-label medication markets. Its primary candidate product is a long-acting injectable micro-suspension of corticosteroids, designed to reduce the number and frequency of epidural steroid injections used for alleviating back pain.

10、Third Coast Therapeutics

Third Coast Therapeutics has discovered and developed novel molecules that inhibit the spread of cancer cells. With 90% of cancer deaths attributable to metastatic disease, the company aims to alter this statistic so that cancer is no longer a dreaded diagnosis.

1、BrainCheck

BrainCheck is the culmination of 20 years of research by the Eagleman Lab for Perception and Action at Baylor College of Medicine. Dr. David Eagleman has been dedicated to developing and validating reliable, non-invasive methods that leverage innovative neurocognitive tests to elucidate internal brain mechanisms and assess brain function. BrainCheck is designed to help patients gain insight into their brain’s internal status.

2、Geneticure

The Geneticure team, funded by the National Institutes of Health (NIH), has developed and secured patents for post-diagnostic non-invasive testing, which is poised to become the new standard of care for hypertension—the most prevalent and lethal non-communicable disease in the United States. This new standard will significantly reduce fatal incidents resulting from prolonged trial-and-error treatment approaches, potentially saving millions of lives worldwide each year.

3、Intuitive Biosciences

Employees at Intuitive Biosciences believe that society can achieve significant progress when efficient and powerful tools become easy to use. Inventions such as the personal computer, the steam engine, and the printing press have all profoundly transformed society due to their ease of use. The company provides clinical diagnostic and laboratory analysis tools and products for healthcare and research, which will revolutionize diagnostics through their power, efficiency, and accessibility.

4、Isomark

Isomark’s proprietary breakthrough technology leverages exhaled breath to provide non-invasive, rapid detection and monitoring of infections. In clinical studies, Isomark has tracked patients’ individualized responses to treatment, validating standard methods within the first three days of infection. Isomark enables early detection and timely intervention while reducing costs associated with false-positive results, thereby helping to determine when to allocate resources for specific diagnostic tests and treatments.

5、MBio Diagnostics

MBio Diagnostics aligns with the trend toward decentralized testing and point-of-care diagnostic results. MBio’s technology enhances the efficiency of on-site clinical diagnostics. Its compact instruments and disposable cartridges deliver quantitative results within minutes. The technology has been validated through clinical evaluations, publications, patents, and announced partnerships in food safety testing. MBio is poised to become the platform of choice for point-of-care testing.

6、NanoBio Systems

NanoBio Systems (NBS) is a point-of-care salivary diagnostics company. The company is currently developing two non-invasive screening devices for diabetes and lead poisoning, and seeks to transform the paradigm of personal health self-management by creating non-invasive devices that correlate salivary biomarker levels with disease diagnosis. Its rapid sensors are based on a novel combination of nanotechnologies, enabling low limits of detection for salivary assays.

7、PhotoniCare

PhotoniCare is a medical device company dedicated to fundamentally transforming how physicians manage middle ear infections. By leveraging the ClearView device, clinicians can now non-invasively and safely visualize middle ear conditions directly through the tympanic membrane. This technology enables rapid determination of whether patients require antibiotic therapy or surgical intervention. The company has reported positive preliminary results from a clinical study involving 100 patients and anticipates receiving FDA 510(k) clearance by the end of 2017.

1、Deton

Due to issues with relevant care sample standards, millions of patients with lower respiratory tract infections often do not receive appropriate treatment. Samples are difficult to obtain and are frequently contaminated. When analyzing droplets from coughs, the Deton collector can capture aerosols containing infectious droplets from coughs. Contaminants are separated, and bacteria are concentrated on a disc within a sealed container that is ejected, facilitating rapid and reliable diagnosis.

2、Dock Technologies

To help medical professionals manage time and establish standardized workflows, Dock has developed a meditation timer. The meditation timer consists of flexible wristbands and stickers that provide instantly readable, continuous visual reminders, helping care teams navigate complex procedures more efficiently. By keeping time changes within clinicians’ line of sight, it offers a simple, auditable tool that enhances care coordination. Timer data can also be aggregated into automated, precise documentation.

3、EDGe Surgical

EDGe Surgical is a medical device startup that leverages disposable electronic depth calipers to enable more accurate and safe placement of screws in plastic surgery and spinal procedures. The company’s patent-protected device, invented by surgeons at Northwestern Memorial Hospital, is set to establish a new standard of care in plastic surgery:

(1) Improve accuracy when selecting screw fixation for fracture fusion.

(2) Reducing the risk of microbial contamination—the primary cause of surgical site infections (SSIs).

4、Genetesis

Genetesis is a medical device startup that has developed a non-invasive imaging method to visualize cardiac electrical currents. This platform technology is designed to provide clinical decision support for a wide range of cardiovascular diseases and is protected by proprietary methods that enable three-dimensional visualization of electrical currents in organs that generate measurable magnetic fields, such as the heart, brain, and intestines. Headquartered in Cincinnati, Ohio, the company recently completed a $1.2 million seed funding round.

5、Harmonus

By enabling precise and safe tumor localization, user-friendly navigation software, and image-based documentation, the Harmonus System—featuring MRI-guided biopsy and on-site fabrication of personalized guide needles—significantly enhances the diagnosis and treatment of prostate cancer and other malignancies. Conventional prostate fluid sampling often leads to repeat biopsies, inaccurate tumor staging, overtreatment, and severe complications; the Harmonus System effectively addresses these limitations associated with standard biopsy procedures for prostate fluid sampling.

6、Simergent

Simergent is pioneering a new model for home peritoneal dialysis systems. Its system produces sterile dialysate directly in the patient’s home, eliminating the need to transport bulky and heavy bags across China, which contain up to 98% water by weight. Adopting this system significantly reduces treatment costs and greatly alleviates the burden on patients of storing 30–90 or more large boxes in their living rooms or bedrooms.

7、TheraB Medical Products

TheraB Medical is a startup that has launched its flagship product, SnugLit—a wearable, portable solution for infant jaundice designed to promote mother-infant bonding and breastfeeding. SnugLit is designed to be worn by infants, enhancing closeness and facilitating maternal holding, breastfeeding, and the mother-baby relationship. It delivers 360-degree blue light therapy through an all-in-one device that simplifies treatment. Hospitals currently utilize two types of devices provided by SnugLit to achieve therapeutic coverage.

1、BacterioScan

BacterioScan has developed a proprietary, automated clinical microbiology platform that provides rapid detection of infections and antimicrobial susceptibility testing (AST). These in vitro diagnostic (IVD) products can guide effective treatment of infectious diseases in an era of increasing antibiotic resistance, reducing the time to results by more than 90% for most patients.

2、Biofourmis

Biofourmis is a Singapore-headquartered company and a pioneer in human-centric healthcare analytics. The company aims to analyze patient medical data, enabling patients to gain continuous physiological insights anytime, anywhere. Biofourmis’ analytics engine, Biovitals, is recognized as a world leader. It is the most sophisticated personalized physiological data analytics engine based on human physiology, capable of simulating the interplay among various physiological parameters to predict health deterioration, health improvement, and drug effects.

3、CareBand

CareBand is a wearable technology platform designed for dementia patients living in assisted living communities, ensuring their safety and well-being to the greatest extent possible. Leveraging an intelligent IoT platform, CareBand provides real-time indoor and outdoor location tracking, nurse call buttons, and behavioral analytics to assist caregivers in making critical decisions. CareBand enables seniors to live safely and independently, offering peace of mind to their caregivers.

4、ExplORer Surgical

Disruptions, distractions, and errors in team collaboration are extremely common in the operating room, leading to delays in treatment, unnecessary costs, and even compromising the quality of patient care. While technology has begun to permeate preoperative and postoperative settings, the operating room itself—the largest revenue center—remains largely untapped. ExplORer is an interactive digital technology that facilitates optimal teamwork in the operating room and enables administrators to access granular intraoperative data.

5、Faros Healthcare

Faros addresses the real-world challenges in healthcare analytics that providers and payers seek to resolve—not only identifying “who” is at risk, but also determining how to deliver optimal patient care at the lowest cost. Its patent-pending artificial intelligence platform provides prescriptive analytics by leveraging clients’ own data and insights to recommend the most cost-effective interventions for high-risk patients. This technology is designed to provide optimal treatment plans for patients with mental health conditions.

6、Intellivisit

Intellivisit is a startup funded by Wisconsin-based entrepreneurs. Intellivisit aims to improve consumer access to primary care consultations with healthcare providers. The company leverages a cloud-based mobile platform, an artificial intelligence engine, and asynchronous communication to facilitate virtual visits. The product has been in use for one year; its first two customers have renewed their contracts and plan to expand their usage. Intellivisit is currently seeking strategic partners and investors.

7、iRxReminder

For patients managing their conditions, iRxReminder is a platform that enables high adherence and connectivity between patients and healthcare teams. It employs a three-component system to address critical situations: a cloud-based control center for deploying care plans and acquiring real-time data. Patients can use its mobile application to access medication support, symptom reporting, and patient education resources. The company’s patent-pending iLidRx pill dispenser will handle both medication dispensing and monitoring.

8、Lucro

Lucro is a digital platform that helps healthcare institutions evaluate and select suitable supplier partners. Created and supported by distinguished leaders from hospitals and health systems, the Lucro platform possesses an in-depth understanding of hospital procurement cycles. It accelerates decision-making by recommending processes to leaders for defining organizational priorities, aligning internal stakeholders, gathering peer input, and enabling better, faster decisions.

9、MedTek21

MedTek21 is a real-time population and medication risk management platform that provides patients with convenient access to personalized pharmacogenetic monitoring. Working in conjunction with existing systems, MedTek21 is dedicated to the continuous monitoring and proactive identification of potential medication risks for patients. MedTek21 can help reduce costs, impact thousands of patients with home care and long-term care backgrounds, and positively affect pharmacy benefit managers, accountable care organizations, and self-insured enterprises.

10、MetaLogics Corporation

More than 95% of weight loss attempts end in failure. The problem is that no one truly knows how many calories they consume or burn, and people cannot manage what they cannot measure. MetaLogics offers an affordable, scientifically validated wearable calorie monitor whose algorithmic system can more accurately inform dieters of their caloric intake. Meanwhile, as a mobile weight-loss application, it guides users on how to achieve their goals.

11、MI7

MI7 is a tool for health data release and selection, designed for top-tier healthcare applications. The company has established a universal platform for medical software companies to exchange clinical data with hospitals and physicians. MI7’s Q product connects directly to patient information within electronic health record (EHR) systems. Its clients can reduce their integration development costs by 90% while significantly accelerating time-to-market.

12、NovaScan

NovaScan has developed a potentially disruptive platform for cancer detection that is interoperable and provides instantaneous results. NovaScan measures the Cole frequency of cells, which increases 1,000-fold as cancer progresses. In clinical trials involving over 350 patients with breast and skin conditions, NovaScan demonstrated an accuracy rate exceeding 99%. The company’s first product will enhance skin cancer screening procedures, and management is actively discussing application prospects with leaders across other industries.

13、Opternative

Opternative’s online eye exam is the most convenient way to obtain prescriptions for contact lenses and eyeglasses. With just a computer and a smartphone, the exam can be completed anytime, anywhere, and the doctor-issued prescription is valid at any retailer.

14、Pathfinder Health Innovations

Pathfinder leverages technology to enhance the efficiency of therapeutic and behavioral healthcare, thereby improving the lives of individuals with autism. As a Software-as-a-Service (SaaS) solution, Pathfinder’s data collection, scheduling, and insurance reimbursement software ensures that required claim documentation is generated efficiently and accurately. This makes data collected during treatment easy to record, access, and act upon, while ensuring that administrative procedures do not impede patient care.

15、Physician Software Systems

Physician Software Systems, a spin-off of Mayo Clinic, has developed PhySoft AMS™, an innovative and user-friendly software-as-a-service (SaaS) application for medical devices that improves anemia management in dialysis patients. The use of PhySoft AMS™ can significantly enhance patient treatment outcomes, reduce healthcare costs, and improve operational efficiency. Adopting PhySoft AMS™ also enables dialysis service providers to save billions of dollars annually while improving patients’ quality of life.

16、Ride RoundTrip

RoundTrip is a HIPAA-compliant software solution designed for non-emergency medical transportation (NEMT) in hospitals. Its mobile application, featuring high-quality feedback mechanisms, enables direct communication with drivers through an online care management portal, providing on-demand trip scheduling and monitoring to enhance network efficiency and improve the quality of patient care. RoundTrip directly connects medical facilities with experienced drivers and reliable medical transportation providers.

17、Tissue Analytics

8.5 million Americans suffer from chronic non-healing wounds. Management of these conditions largely relies on guesswork and rough estimates, necessitating ongoing treatments that are both costly and ineffective. Tissue Analytics transforms smartphones into sophisticated imaging platforms. The company has developed proprietary image analysis algorithms that standardize wound assessment data, enabling clinicians to make more informed decisions and accelerate patient healing.

References:

http://events.medcitynews.com/invest/2017-startup-content/

http://medcitynews.com/2017/05/medical-imaging-dental-robotics-medcitys-best-invest-pitch-perfect-contest-2017/