Device/Diagnostics Quarterly Deal Statistics, Q3 2013

Medical device developers closed the third quarter of 2013 with $644 million in financing, a big decline compared with the previous two quarters, which each tallied both tallied over $1 billion in funding.

Early-stage venture investing saw the sharpest drop vs. Q2, decreasing 37% from $179 million to $113 million. Still there was some impressive fundraising including CeQur SA’s $27 million Series B, led by two new undisclosed investors which were joined by returning backers BMC Ventures, Endeavour Vision, Schroder & Co. Bank, and Venture Incubator. [See Deal] In Europe the Swiss company commercializes PaQ, a device worn on the abdomen that delivers subcutaneous insulin over a three-day period, specifically for Type II diabetics. CeQur will use some of the Series B money to gain US approval for the product. Adavium Medical also closed on a Series B round, raising $20 million