Is there another Denali in the works?
Denali Medical Inc., a Plymouth-based medical device incubator, has raised $4 million from investors, according to a recent filing with the Securities and Exchange Commission.
Not much is known about Denali, which is seeking $4.6 million from the sale of equity. Reached by phone, founder Thomas Hektner declined to offer more details.
However, there are some clues. Hektner was co-founder of StarFire Medical, a manufacturer of implantable devices for neurovascular disease that was acquired 18 months ago by Nfocus Medical.
He has filed for several patents in recent years, including three applications for a special stent designed to repair annulus or spine wall and to speed healing and the growth of new tissue. Last December, Hetktner sought a patent for an implantable device to treat glucoma by shifting fluid from one area of the eye to the other.
Even more intriguing, the SEC document identifies the company as Denali Medical II Inc., suggesting Hetkner has launched another incubator or fund. Denali II was founded this year.
The first Denali Medical was renamed Rotation Medical Inc. and had raised at least $6 million, according to SEC filings.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Former Medtronic chief operating officer Michael DeMane, now with venture capital firm Thomas McNerney & Partners, serves on the board for both Rotation and Denali II. DeMane did not immediately return a message left on his cell phone.
