Med Device Company Longeviti raising up to $12.6M Growth Capital
July 23, 2019
Longeviti, a neuro-technology company with a focus on innovative surgical solutions for complex brain surgeries, is raising up to $12.6M according to a recent announcement.
Based on laser technology from Johns Hopkins, Longevity was launched in 2015 with early commercialization support from TEDCO’s Maryland Innovation Initiative (MII) program. Co-founder and CEO, Jesse Christopher, a veteran industry executive formerly with Fortune 500 medical tech company Stryker Corp raised the company’s first $2M in equity financing within the first year of launch.
Several medical device firms in the BioHealth Capital Region with ties to Baltimore-based universities have seen success in recent years. JHU spin-out, Sonavex, has rapidly commercialized its medical technology achieving two FDA clearances in the past year. The most notable exit in recent years though was by Harpoon Medical. The UMB spin-out, lead by CEO Bill Niland, was purchased by Edwards Lifesciences in 2017 for an initial $100 million, with a total deal value of up to $250 million over the next 10 years.
Longeviti is focused on providing innovative functional neurosurgery, neuro-reconstruction, and neuro-plastic surgery solutions to improve patient outcomes and reduce associated complications. Longeviti’s patented Low-profile Intracranial Devices (L.I.D.) platform has already led to two recently commercialized and FDA-cleared neuro surgical implants – the ClearFit and the InvisiShunt (both Launched Q3 2018).
Complication rates as high as 40-60% (InvisiShunt First In-Human Publication) are associated with the nonanatomic placement of hardware that exists with current technologies. Longeviti seeks to reduce those complications and address this growing unmet clinical need for patients receiving complex brain surgeries.
ClearFit was launched to correct and/or restore bony voids or defects of the cranium. This clear, patient-specific implant enables neurosurgeons to see neuroanatomy and critical functional components beneath the ClearFit once it is implanted.
“The real advantage to this system is the ability to see what’s underneath the cranioplasty,” said Dr. Justin Caplan, assistant professor of neurosurgery with Johns Hopkins School of Medicine, in a statement from Longeviti. “Now instead of having to worry if there is blood accumulating putting pressure on the brain, the surgeon can see this directly right up until the wound is closed.” (Medical Design and Outsourcing)
InvisiShunt, a neurosurgical implant that is surgically placed in the cranium to restore its natural contour while maintaining its proper position, launched in June of 2018. Here is a video on InvisiShunt technology.
Longeviti is already viewed as a local university technology success story having achieved two commercial products. With this new round of growth capital, the company can continue its growth and may one day become the next Harpoon Medical.
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