Christopher Velis, founder of Cambridge-based Miraki Innovation and co-founder of Auris Health, last week announced $175 million in funding to build the next generation of pioneering medical technology companies.
The Medical Technology Breakthrough Fund will be used to support Miraki’s mission of using technology to pinpoint and solve pressing health challenges.
The Miraki team will use the money to build and support portfolio companies, leveraging existing and new academic and research relationships to develop and commercialize novel, market-leading medical technology.
“With global concerns like growing antibiotic resistance that continue to strain healthcare resources, it’s more critical than ever that we advance medtech investment to bring more cutting-edge research to patients,” Velis said.
Since its inception, Miraki Innovation has aided the creation of more than 15 companies. Miraki Innovation helps the companies bring ideas and research out of labs and into clinics, with the goal of building flourishing companies.
The team has experience in oncology, tissue regeneration, infectious disease, imaging and diagnostics, cardiology, trauma and robotic surgery. Miraki works with institutions such as Brown University, Columbia University and Johns Hopkins University to license intellectual property.
“Our methodology builds and brings companies to market quickly and efficiently,” Velis said. “By taking quantum leaps — not by making incremental improvements — we intend to bring returns to investors, while improving and saving lives.”
Miraki is just the latest organization putting big money behind startups traveling through the medical and health technology development pipeline.
Last month, HealthQuest Capital closed a $440 million fund to invest in companies delivering innovation across the healthcare industry to improve outcomes, enhance efficiency and reduce costs. HealthQuest Capital said it will target growth- and commercial-stage companies focused on medical technologies, diagnostics, digital health and innovative services.
HealthQuest Capital also led an $85 million funding for Ajax Health II to strategically operate and expand innovative medical device companies.
While last year saw a historic amount of funding for health technology, things have not seemed to slow down much in 2019.
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