Advanced MedTech Holdings (AMTH), Southeast Asia’s largest medical device business, today announces it has co-led a US$10 million Series B funding in SonoMotion, a US-based medical device startup, together with its existing investors MedVenture Partners, Inc and BioVentures Investors, to support its development of non-invasive solutions for kidney stones.
The funds raised will fund a pivotal study of Break Wave(TM), SonoMotion’s ultrasound solution that fragments kidney stones non-invasively. SonoMotion also plans to launch Stone Clear(TM), a non-invasive ultrasound-based tool to reposition kidney stones within the kidney and ureter, in 2020. Both technologies aim to bring greater convenience and comfort for patients and physicians, offering new alternatives in stone management that potentially remove the need for anesthesia or ionizing radiation.
Commenting on the investment, Abel Ang, Group Chief Executive of Advanced MedTech, said:
“Supporting SonoMotion’s development of Break Wave(TM) and Stone Clear(TM) is in line with our commitment to investing in and advancing the most innovative, non-invasive solutions for urologists globally. Our focus is to offer the best patient experience and stone-free outcomes from the technologies we are engaged with. The SonoMotion team has impressed us with their approach to developing disruptive stone management technologies and we look forward to working closely with them to realize their strategic objectives.”
Dr Oren Levy, Chief Executive Officer of SonoMotion, added:
“2020 is set to be a transformational year for SonoMotion and the new funds we have raised will enable us to reach key milestones in the development of our novel urology technology in the coming months. We are delighted to welcome Advanced MedTech as a new investor. We greatly respect the team’s expertise and leadership in urology and look forward to working closely with them.”
SonoMotion is a Silicon Valley based medical device start-up that is developing non-invasive solutions for the treatment of kidney stones.
For more information on SonoMotion, please visit http://www.Sonomotion.com/
SOURCE: Advanced MedTech