AngelMD Investor Group Closes Funding Round in Sensulin, LLC

AngelMD, a platform that connects medial startups with doctors that provide guidance and investors that provide funding, today announced that a group of its physician and investor members has completed the latest funding round for Sensulin, LLC.

“Sensulin is excited to work with AngelMD again, in this Series B round. We could not have raised our Series A without them, and they helped us build momentum toward this new round, which will enable us to conduct first-in-human studies,” said Mike Moradi, CEO of Sensulin.

Sensulin’s work is focused on developing a glucose-responsive insulin to treat both Type 1 and 2 diabetes. Diabetes is overwhelmingly prevalent in America, with over 100 million americans having some form of the disease. 1.5 million Americans are diagnosed with Type 2 diabetes every year, and though less common, there are still 1.25 million Americans living with Type 1 diabetes. Since patients with Type 1 diabetes do not have a pancreas which produces regular levels of insulin, typical management includes 4-8 insulin injections a day.

Sensulin’s Agglomerated Vesicle Technology (AVT) makes the insulin stimulus-responsive, meaning that the amount of insulin released is proportional to a patient’s blood sugar, and the company aims to reduce those eight injections a day to a single daily dose.

Though Sensulin is focused on developing its insulin product, AVT is first and foremost a drug delivery system, and is not specific to insulin. The tech uses a series of liposomes which are “glued together” by a molecule that responds to a specific stimulus. This can be used to encapsulate various drugs triggered by various stimuli (inflammation, low blood oxygen, etc.), providing the opportunity for future innovative treatments. The technology has been proven to work as an injectable or inhalable formulation.

“We met Mike Moradi, Sensulin’s CEO, at the first AngelMD event we hosted at our home,” said Dr. Wendy Whittington, Regional Medical Director at AngelMD. “I was immediately struck by the passion he brings to his work and his quiet yet competent way of articulating the science. Diabetes is such a huge problem worldwide and one that needs more focus and innovation. I also loved that the science behind Sensulin can be translated to other drugs and therefore utilized in ways we haven’t yet considered.”

Sensulin will use the funds to push forward its research and development and conduct its first-in-human studies for the glucose-responsive insulin.

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AngelMD and ACC Announce Winners from the ACC.18 Innovation Challenge

Today AngelMD announced the winners of the ACC.18 Innovation Challenge pitch competition. The competition featured startups from around the country, showcasing products and services from either the digital health or medical device categories. The event was held as part of the American College of Cardiology’s (ACC) 67th annual Scientific Session & Expo. The ACC.18 Innovation Challenge debuted as part of the ACC.18 Future Hub, which featured TED-style talks and small panel discussions, as well as innovative product and service demonstrations.

The top eight finalists were selected from an initial field of over sixty applicants. The ACC used a panel of experts to narrow the field down to the top sixteen. The team at AngelMD then put each of the sixteen companies through its rigorous evaluation process which judges a company’s likelihood of success based on qualities such as the novelty of the product, the past successes of the team, and the business acumen of the startup.

The finalists, as determined by ACC and AngelMD:
Digital Health Category: Corrie HealthHealthPalsWellflixWellth
Medical Device Category: BlumioGenetesisPolyVascular Corp.ThermoMorph

Wellth was named as the winning company from the digital health category. The company allows providers to offer financial rewards when patients demonstrate adherence to their chronic disease treatment regimens.

“The companies that presented at ACC.18 represent some of the finest in cardiology,” AngelMD CEO Tobin Arthur said. “We are proud to give these AngelMD members a platform to share their accomplishments while enabling them to directly connect with experts in their field for advisement and fundraising.”

PolyVascular won the competition for the medical device category. The company has developed a polymeric heart valve for percutaneous delivery in infants diagnosed with congenital heart disease.

“Using Innovation to optimize cardiovascular care and outcomes is the vision of the American College of Cardiology,” said ACC Chief Innovation Officer John Rumsfeld, MD, PhD, FACC. “These companies are at the forefront of innovation in medicine, and we’re honored to be able to showcase their ideas and provide a foundation for them to further develop their products.”

Each winning company received a prize package that includes a $5,000 credit toward investment syndication services through AngelMD. These services include investor accreditation verification, the creation of a special purpose vehicle for angel investors, stock issue documents, the collection of digital signatures, collection of funds, and escrow service for the investment syndicate.

The two companies will also be invited back to the ACC’s 2019 conference, where they will be provided with a booth space valued at over $4,000.

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AngelMD Releases 2017 Private Investment In Healthcare Technology Report

AngelMD collated public data and proprietary data from its network to provide deep insights into capital invested in Biotechnology, Pharmaceutical and Other Healthcare startups. The result is AngelMD’s 2017 Private Investment in Healthcare Technology Report — a comprehensive view of the medical specialties receiving the most attention and capital in 2017.

“The SEC reporting lists $9.2 billion invested in ‘Other Healthcare’, with an overall private investment increase of 15.5 percent over 2016,” AngelMD CEO Tobin Arthur said. “This $25 billion figure for total investments is staggering when taken on the whole. This report provides our members, many of whom are physicians, a more detailed picture of both capital deployment and interest level broken down by medical specialty.”

The report details not only a breakdown of offerings within medical specialties, but also highlights trends that appear in specific offering sizes. For example, Oncology is somewhat overrepresented at $7.4 billion in total investments, leading all other specialties by a wide margin. By refining the scope to the common startup size of $50 million and under, we see Ear, Nose & Throat-related investment at the top of average money raised, followed then by Gastroenterology. Cancer-related funding falls to ninth place in this subset.

“When you look at ‘seed-stage’ investments — total funding under $2 million — the picture changes again with a significant percentage invested in infectious diseases and pathology,” said Arthur.

The report also gives geographic insight to investing. For instance, California-based healthcare startups dominated in 2017 at $7.16 billion; as much as the next five states combined.

AngelMD reviewed over 2,500 Form D submissions filed in 2017 as part of this report. The report first assesses the type of innovation (medical device, digital health, etc.). Just over 20 percent of the companies had a focus that was very broad — such as Health IT or Practice Management. Overall, AngelMD was able to identify a specific clinical application and speciality addressed in 66 percent of the companies.

The full report is available to AngelMD members, but an infographic summarizing the data can be found online here.

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AngelMD Catalyst I LP Invests In Transformative Scoliosis Treatment

Today, AngelMD’s Catalyst I LP (“the Fund”) announced it has invested in Green Sun Medical, LLC (“the Company”). Green Sun Medical is a Colorado-based medical device company that has developed the first substantial change to Adolescent Scoliosis bracing treatment in over 50 years. The Fund’s investment of $500,000 represents the amount needed by the Company to close its current round of financing which, along with an earlier investment by an AngelMD Syndicate, will make AngelMD Green Sun Medical’s largest investor.

Even after decades of research, scoliosis is still a mystery to the medical community since most cases are idiopathic, meaning they have no known cause. What we do know is that, when detected early and treated appropriately, the spinal curve progression can be halted; and the debilitating effects of scoliosis can be greatly mitigated.

Static bracing, the current standard of care, only saves one in three patients from spinal fusion surgery. Green Sun Medical’s approach is to use its comfortable dynamic brace to provide continuous corrective pressure while allowing the patients to move and function as normal teenagers. Pressure sensors in the brace allow the physicians to monitor remotely the performance of the brace to ensure that their patients are receiving the best possible treatment.

The problem with the current braces on the market is that they’re only designed to prevent the scoliosis curve from getting worse. They are made from rigid plastic, which leads to patient discomfort and low compliance. Green Sun Medical’s solution addresses both issues, which leads to improved compliance and continuous corrective pressure on the patient’s spine.

“Green Sun has compiled a world-class development team, including some of the world’s thought leaders in scoliosis treatment,” said Charlie Emley, Managing Partner of the Catalyst I Fund. Mr. Emley will join the Company’s Board of Directors as a Board Observer. “The leadership team is an ideal mix of healthcare, technical and marketing professionals who will guide Green Sun’s commercialization, the likes of which we don’t often see. We know that pediatric experts agreed with our opinion when Green Sun Medical received the top award at the 5th Annual Pediatric Device Innovation Symposium sponsored by the National Capital Consortium for Pediatric Device Innovation (NCC-PDI)”

“We know that AngelMD is always seeking out companies that not only have a novel approach, but also the team to build a successful company,” said Jamie Haggard, Cofounder and CEO of Green Sun Medical. “We’re excited to have AngelMD physician network as a partner in our success, and we’re proud to have Catalyst I LP be our largest investor.”

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AngelMD’s Catalyst Fund Invests in Six Startups During Alpha Conference

Today AngelMD announced that its Catalyst LP I Fund will invest in six companies selected from a pool of over 150 applicants. The funding announcement comes in conjunction with the company’s Alpha Conference, on January 5th and 6th in Napa, California. Conference attendees and AngelMD members will be given the opportunity to invest in the startups after their presentations.

“This is a unique opportunity for startups. Not only do they get an investment from our Catalyst Fund, but they get a syndicate of investors from our network at the same time.” said Charles Emley Jr., Managing Partner, Catalyst I, LP.

The winning companies are:

Beta Cat Pharmaceuticals
Noninvasix
Otomagnetics
Pharmajet
Seal Rock Therapeutics
Sensulin

“We are always impressed with the high quality of startups that register on AngelMD. When we host events such as Alpha, we are able to draw from a very deep pool of strong companies. This process has not only created efficient new capital investment and visibility for the startups, it ensures our conference attendees and members are getting access to high quality, curated deal flow,” said Jens Francis, Chief Investment Officer, AngelMD

About AngelMD
AngelMD is an investment and networking platform connecting innovative medical startups, physicians, investors, and industry partners. Leading physicians from all over the US have joined AngelMD to help source, evaluate and advise companies in biotechnology, medical device, and healthcare technology. For more information visit http://www.angelmd.co.

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