Torax Medical
Founded Year
2002Stage
Acquired | AcquiredTotal Raised
$104.2MAbout Torax Medical
Torax Medical is a medical device company that develops and markets products designed to treat chronic diseases related to defective sphincter muscles. The company's technology platform, Magnetic Sphincter Augmentation (MSA), employs a small implant comprised of interlinked titanium beads with magnetic cores. The magnetic attraction between the beads augments the existing sphincter's barrier function to prevent reflux or incontinence. The devices are implanted with standard minimally invasive laparoscopic or surgical procedures.
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Torax Medical Patents
Torax Medical has filed 21 patents.
The 3 most popular patent topics include:
- Digestive system
- Esophagus disorders
- Implants (medicine)
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
11/20/2020 | 7/4/2023 | Annular solar eclipses, Digestive system, Implants (medicine), Esophagus disorders, Psychiatric diagnosis | Grant |
Application Date | 11/20/2020 |
|---|---|
Grant Date | 7/4/2023 |
Title | |
Related Topics | Annular solar eclipses, Digestive system, Implants (medicine), Esophagus disorders, Psychiatric diagnosis |
Status | Grant |
Latest Torax Medical News
Nov 30, 2022
CEO has past experience with Minnesota medtech startups November 30, 2022 — 4:42pm Gift Email Boston Scientific Corp. is buying Apollo Endosurgery, a medtech company based in Austin, Tex., in a $615 million deal. Apollo makes devices used during endoluminal surgery procedures to close gastrointestinal defects and help with weight loss for obese patients. Its CEO, Chas McKhann, is based in St. Paul and has a local profile for having worked with several medtech startups. When McKhann was named Apollo CEO in February 2021 the company touted his experience with both large and early-stage medtech companies. For 10 months he served as chief commercial officer for Shoreview-based Torax Medical, which developed a device to treat gastroesophageal reflux disease. Torax Medical was acquired by a Johnson & Johnson subsidiary in 2017. McKhann, who was not available for comment, served as chief commercial officer for California-based Intersect ENT, a maker of products for sinus procedures, in 2015 and 2016. Medtronic just completed its $1.2 billion acquisition of Intersect ENT in May. McKhann previously worked for Boston Scientific from 2007 to 2010, ultimately serving as vice president of marketing for the company's cardiac rhythm management division. Boston Scientific employs about 8,400 people in Minnesota and 2,300 in Massachusetts, the site of its world headquarters . Apollo is expected to have sales of about $76 million this year. Boston Scientific anticipates closing the deal in the first half of 2023. Burl Gilyard is the Star Tribune's medtech reporter.
Torax Medical Frequently Asked Questions (FAQ)
When was Torax Medical founded?
Torax Medical was founded in 2002.
Where is Torax Medical's headquarters?
Torax Medical's headquarters is located at 4188 Lexington Avenue North, Shoreview.
What is Torax Medical's latest funding round?
Torax Medical's latest funding round is Acquired.
How much did Torax Medical raise?
Torax Medical raised a total of $104.2M.
Who are the investors of Torax Medical?
Investors of Torax Medical include Ethicon, Sanderling Ventures, Mayo Clinic Ventures, Thomas McNerney & Partners, Accuitive Medical Ventures and 6 more.
Who are Torax Medical's competitors?
Competitors of Torax Medical include Cardiovascular Systems, EndoGastric Solutions, Apnex Medical, Lutonix, BARRx Medical and 10 more.
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- See competitors' playbooks
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Compare Torax Medical to Competitors
Endologix is a developer and manufacturer of minimally invasive treatments for vascular diseases. Endologix is focusing on the development and marketing of its patented technology for the treatment of Abdominal Aortic Aneurysms (AAA). An aneurysm is a weakening of the wall of the aorta, the largest artery of the body. Aortic aneurysm disease is a cause of death in the United States and it is estimated that 1.7 million persons over 55 years of age have an AAA. Each year, physicians diagnose approximately 200,000 people in the United States with AAA. Endologix is currently marketing its Powerlink Delivery System a, one-piece endoluminal stent graft (ELG) used in treating AAA that has significant advantages when compared with marketed stent alternatives. Powerlink has been commercially available in Europe since 1999. FDA approval for the Powerlink AAA stent graft was received on October 29, 2004. The Powerlink superior design is covered by 17 U.S. patents with 361 allowed claims; the technology is designed to overcome shortcomings of first-generation ELGs. The device is for sale in the United States and selected international markets. Endologix is a publicly-held company trading on NASDAQ: ELGX. The company's corporate office is located in Irvine, California.
Chestnut Medical Technologies, Inc. was founded to pioneer new minimally invasive therapies for Interventional Neuroradiology. Chestnut aims to develop technologies that are easier to use while improving outcomes and reducing complications in the treatment of neurovascular disease.
DuoCure offers intraluminal minimally invasive implantable device for treatment of obesity.
GRAFTcath is a medical device company developing vascular access products for hemodialysis.
CCS is developing a device to aid colostomy patients in managing their stomas (formerly Uniseed investee Colocare) and a surgical procedure for urinary incontinence based on electrical stimulation of smooth muscle grafts. Both technologies are currently under clinical evaluation.
Beta-Stim - Minimally invasive implantable neuro-stimulator to treat obesity and type II diabetic patients.
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