Global urology leader Advanced MedTech co-leads SonoMotion's US$10 million Series B fundraising
- Strategic investment in the US-based company complements Advanced MedTech's non-invasive product portfolio and strengthens its leadership in urology and stone management
- The funds will be used to support the clinical development and commercialisation of SonoMotion's key ultrasound-based solutions - Break Wave(TM) and Stone Clear(TM)
Advanced MedTech
Nov 12, 2019, 06:54 ET
SINGAPORE, Nov. 12, 2019 /PRNewswire/ -- 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.
Advanced MedTech co-leads SonoMotion Series B
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."
Weikang Lee
weikang.lee@advanced-medtech.com
Emma Thompson / Tianning He
Spurwing Communications
advanced@spurwingcomms.com
About Advanced MedTech
Advanced MedTech is the largest medical device business in Southeast Asia. It is a global medical technology leader with a core focus in urology devices and services. Headquartered in Singapore, with operations in US, Germany, Spain, France, Italy, China, Malaysia and Japan, the Company serves millions of patients and physicians in 100 countries worldwide. Advanced MedTech makes strategic investments in disruptive medical technology companies, strengthening its portfolio of healthcare solutions for customers around the world. Advanced MedTech is a wholly-owned subsidiary of Temasek. For more information on Advanced MedTech, please visit advanced-medtech.com .
About SonoMotion:
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
http://advanced-medtech.com