Auris Health Announces $220 Million Growth Financing
Posted on November 30, 2018 by Medtech[y] Staff
Auris Health recently announced the close of a $220 million equity financing led by Partner Fund Management. New investors Wellington Management, D1 Capital Partners and Senator Investment Group and existing investors including Mithril Capital, Lux Capital and Viking Global Investors also participated in the round. The company has now raised more than $700 million to date. Funding will be used to advance the commercialization of the company’s Monarch Platform and the development of next-generation robotic interventional technology.
“The support of this group of world-class investors will be instrumental as Auris transitions into a commercial-stage company,” said Frederic Moll, M.D., founder and CEO of Auris Health. “We are pleased with our progress in launching the Monarch Platform, which was initiated earlier this year. This funding will enable us to expand our commercialization efforts for endobronchial applications, and will also support our mission to pioneer the next era of medical intervention across a broader spectrum of procedures.”
The Monarch Platform is currently FDA-cleared for diagnostic and therapeutic bronchoscopic procedures. The system utilizes a familiar controller interface to navigate a flexible robotic endoscope to the periphery of the lung. Combining traditional endoscopic views with computer-assisted navigation based on patient-specific 3-D models, the Monarch Platform provides physicians with continuous bronchoscope vision, computed guidance and precise instrument control throughout the entire procedure.
The goal of the Monarch technology is to enable more accurate diagnosis and subsequent treatment of small and hard-to-reach nodules in the periphery of the lung. Lung cancer is the leading cause of cancer deaths worldwide. More patients die every year from the disease than from prostate, breast, and colon cancers combined.