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Medical Alley Q3 Breakdown: All Major Sectors in Medical Alley Break $100 Million Raised for First Time

November 12, 2018

MINNEAPOLIS--(BUSINESS WIRE)--Nov 12, 2018--Medical Alley’s third quarter ended with new industry records and new milestones set across the board. 27 Medical Alley-based companies raised $176,089,457 in Q3, the second-best Q3 in the last five years.

“Medical Alley’s portfolio of growing companies across the healthcare spectrum continues to demonstrate that this region is the best place to solve healthcare’s biggest challenges, regardless of what sector you are in,” said Shaye Mandle, President and CEO, Medical Alley Association.

Medical Alley device companies raised $90 million this quarter, continuing a steady growth trend that began in 2009. Biotech companies also set new milestones in Medical Alley, breaking $100 million in capital raised in a year for the first time in Medical Alley history. Digital Health investment continued its strong run with $32 million raised in the third quarter for a year-to-date total of $116 million.

Most noteworthy in Q3 is that all major sectors in Medical Alley broke $100 million in year-to-date funds raised for the first time.

The top-raising companies included Recombinetics with $34M in Series A funding, Urotronic Inc. with $20M in Series B funding, 4C Medical Technologies with $17M in Series A funding, and Vireo Health LLC and Cardialen each raising $16M.

To see the full report click here.

About The Medical Alley Association

Founded in 1984, the Medical Alley Association supports and advances the global leadership of Medical Alley’s healthcare industry, and its connectivity around the world. MAA delivers the collective influence, intelligence and interactions that support Medical Alley.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181112005526/en/

CONTACT: Medical Alley Association

Julia Coleman, 952-746-3813

JColeman@medicalalley.org

KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY CLINICAL TRIALS MEDICAL DEVICES PHARMACEUTICAL MANUFACTURING ENGINEERING PROFESSIONAL SERVICES FINANCE OTHER SCIENCE MEDICAL SUPPLIES SCIENCE

SOURCE: Medical Alley Association

Copyright Business Wire 2018.

PUB: 11/12/2018 10:41 AM/DISC: 11/12/2018 10:41 AM

http://www.businesswire.com/news/home/20181112005526/en

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