Nov 28 2018
Funds Will Be Used to Advance Commercialization and Development of Next-Generation Robotic Interventional Technology
REDWOOD CITY, Calif. – November 28, 2018 – Auris Health, Inc. today 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.
Allen & Company LLC served as an advisor to Auris Health in this financing.
About Auris Health, Inc. Auris Health is pioneering the next era of medical intervention by developing platforms that enhance physician capabilities, evolve minimally invasive techniques, and create new categories of care that redefine optimal patient outcomes. The company is committed to transforming medical intervention by integrating robotics, micro-instrumentation, endoscope design, sensing, and data science into one platform. Every element of our technology is driven by patient-specific design aimed at maintaining the integrity of the human body. Learn more at www.aurishealth.com.
AURIS and MONARCH are trademarks and/or registered trademarks of Auris Health, Inc. in the United States and in other countries. All other trademarks and product names used herein are the property of their respective owners.Press release issued on Business Wire