Technical.ly Baltimore: Medical device startup Protaryx raises $8.3M
Tuesday, July 7, 2020
The Baltimore-based company was cofounded by two of the key people involved in Harpoon Medical's 2017 acquisition. UM Ventures has been an early supporter and investor.
Protaryx Medical, a startup out of the University of Maryland, Baltimore that is developing a device for use during beating heart cardiology procedures, is emerging with $8.3 million in funding raised.
The funding to date includes a $3.2 million seed round, and a recently closed Series A financing, led by Silicon Valley-based Ajax Health. UM Ventures, which is the University of Maryland’s commercialization arm, invested in both rounds. UM Ventures and TEDCO also provided the company with non-dilutive grants.
The Baltimore-based company was founded in 2019, but traces roots to another recent startup story out of Baltimore. Cofounders Dr. James S. Gammie, who is chief of cardiac surgery at the University of Maryland School of Medicine, and CEO Terri Burke were both involved with Harpoon Medical, the Baltimore medical device company that was acquired in 2017 by Edwards Lifesciences in a deal that was worth $100 million at the time. Gammie was the cofounder and inventor of Harpoon’s device, while Burke led global marketing and business development at Edwards.
Read the full story from Technical.ly Baltimore.