Medical robotics company Noah Medical has received $150m in a Series B funding round to scale its endoluminal robotic solutions.
The oversubscribed financing round was led by Softbank Vision Fund and co-led by Prosperity7 Ventures.
Participants also included Tiger Global, as well as existing investors such as Hillhouse, Shangbay Capital, Sequoia China, Sunmed Capital, Uphonest Capital, 1955 Capital, Lyfe Capital and AME Cloud Ventures.
The funding will allow the company to meet the increasing demand from customers for its Galaxy System – a next-generation integrated solution for navigated robotic bronchoscopy.
Furthermore, the company will use a portion of the financing to boost research and development of non-invasive platforms for patient diagnosis and treatment.
Noah Medical founder and CEO Dr Jian Zhang said: “We are a mission-driven startup and appreciate our investors’ support to allow us to scale and deliver on the future of medical robotics.
“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 can be used to improve location accuracy and diagnosis of lung nodules.
The system is incorporated with TiLT+ Technology with integrated tomosynthesis and augmented fluoroscopy. It comes with a single-use disposable bronchoscope to enhance procedural workflow and has a small, compact footprint to fit in even small bronchoscopy suites.
Last month, the company secured clearance from the US Food and Drug Administration for the Galaxy System for commercial application in the US.
Noah Medical also started first-in-human trials with the system at Macquarie University Hospital in Sydney, Australia.