Led by $225m venture financing of Delfi Diagnostics, total medical devices industry venture financing deals worth $2.7bn were announced in North America in Q3 2022, according to GlobalData’s deals database.
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The value marked a decrease of 0.7% over the previous quarter and a drop of 34% when compared with the last four-quarter average of $4.15bn.
North America held a 68.84% share of the global medical devices industry venture financing deal value that totalled $3.98bn in Q3 2022. With a 67.09% share and deals worth $2.67bn, the US was the top country in North America’s venture financing deal value across medical devices industry.
In terms of deal activity, North America recorded 207 deals during Q3 2022, marking a decrease of 2.36% over the previous quarter and a drop of 15.94% over the last four-quarter average. The US recorded 193 deals during the month.
North America medical devices industry venture financing deals in Q3 2022: Top deals
The top five venture financing deals accounted for 27.7% of the overall value during Q3 2022.
The combined value of the top five medical devices venture financing deals stood at $758m, against the overall value of $2.7bn recorded for the quarter.
The top five medical devices deals of Q3 2022 tracked by GlobalData were:
1) AV8 Ventures, Brown Advisory, Cowen Healthcare Investments, DFJ Growth Management, Eli Lilly and Co, Foresite Capital Management, Illumina Ventures, Initiate Ventures, Menlo Ventures, Northpond Ventures, Open Field Capital, Orbimed Advisors, Osage University Partners, Point Field Partners, Point72 Ventures, PTX Capital, Rock Springs Capital Management, Samsara BioCapital, T Rowe Price Associates and Windham Venture Partners’s $225m venture financing deal with Delfi Diagnostics
2) The $223m venture financing of Cleerly by Breyer Capital, Cigna Ventures, DigiTx Partners, Fidelity Management & Research, Heartland Healthcare Capital, LRVHealth, Mirae Asset Capital, New Leaf Ventures, Novartis, Peter Thiel, Piper Sandler Merchant Banking, Sands Capital Management, T Rowe Price Associates, T. Rowe Price Investment Management and Vensana Capital
3) Medtronic, Perceptive Advisors, RTW Investments, SternAegis Ventures and Terumo’s $110m venture financing deal with Orchestra BioMed
4) The $100m venture financing of JenaValve Technology by Andera Partners, Bain Capital Life Sciences, Cormorant Asset Management, Gimv, Innovatus Capital Partners, Peijia Medical, Pictet Alternative Advisors, Qatar Investment Authority, RMM Consulting Group, Valiance Advisors and Venture Incubator
5) Apple Tree Venture Management, Fidelity Management & Research, Gilmartin Capital and Intuitive Surgical’s $100m venture financing deal with Galvanize Therapeutics