Noah Medical, a developer of medical robotics used for surgery, today announced that it has raised $150 million in Series B funding. The San Carlos, Calif.-based company said it will use the funds to meet the rising demand for the Galaxy System, its next-generation, integrated solution for navigated robotic bronchoscopy.
“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, PhD, Noah Medical founder and CEO, in a statement.
“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,” Zhang said.
Galaxy was built with Noah's proprietary TiLT Technology
The Galaxy System features TiLT+Technology, integrated tomosynthesis and augmented fluoroscopy, a single-use disposable bronchoscope, and a small, compact footprint to allow for improved procedural workflow, is poised to disrupt the lung biopsy market, the company said.
The company said the system is built “to overcome CT to body divergence by providing real-time navigation and lesion updates with readily available C-arm fluoroscopy,” according to its website.
The announcement of this infusion of capital follows a series of recent milestone achievements for the Galaxy System, which is designed to improve location accuracy and successful diagnosis of lung nodules using its proprietary TiLT+ Technology.
Noah Medical recently announced the platform received FDA clearance for commercial use in the United States and that it has initiated first-in-human trials at Macquarie University Hospital in Sydney, Australia.
The funding was led by Softbank Vision Fund, and co-led by Prosperity7 Ventures, the oversubscribed round also included investments from Tiger Global, and existing investors including Hillhouse, Sequoia China, Shangbay Capital, Uphonest Capital, Sunmed Capital, Lyfe Capital, 1955 Capital, AME cloud ventures, as well as undisclosed strategic investors.
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