US-based medical robotics company Noah Medical has raised US$150m (£120.5m) in a Series B funding round to further develop its Galaxy System, an integrated solution for navigated robotic bronchoscopy.
Some participating investors included Softbank Vision Fund, which led the round, and co-leader Prosperity7 Ventures.
The round was reportedly oversubscribed, and also included investments from Tiger Global, Hillhouse, Sequoia China, Shangbay Capital, Uphonest Capital, Sunmed Capital, Lyfe Capital, 1955 Capital, AME cloud ventures, as well as undisclosed investors.
The Galaxy System was designed to improve location accuracy and successful diagnosis of lung nodules using the firm’s proprietary TiLT+ Technology.
According to Noah Medical, the system has already been tested and praised by interventional pulmonologists, with the platform previously receiving FDA clearance for commercial use in the US.
What’s more, the company has announced the first in-human trials at Macquarie University Hospital in Sydney, Australia.
“We are a mission driven startup and appreciate our investors’ support to allow us to scale and deliver on the future of medical robotics,” said Jian Zhang, founder and CEO of Noah Medical.
“Next generation robotics platforms like the Galaxy System are filling procedural gaps to provide superior clinical values to better serve customers’ needs. We are excited to welcome these investors to the team and are eager to grow and serve even more patients and clinicians.”
The Galaxy System features TiLT+ Technology with integrated tomosynthesis and augmented fluoroscopy and a single-use disposable bronchoscope and features a compact footprint to enable improved procedural workflow.