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Noah Medical announced that it raised $150 million in Series B funding. The company plans to use the funding to meet the rising demand for its Galaxy System, an integrated system for navigated robotic bronchoscopy.
Softbank Vision Fund and Prospertiy7 Ventures co-led the oversubscribed round, which also included participation from Hillhouse, Sequoia China, Shangbay Capital, Uphonest Capital, Summed Capital, Lyfe Capital, 1955 Capital, AME cloud ventures, and other undisclosed investors.
“We are a mission-driven startup and appreciate our investors’ support to allow us to scale and deliver on the future of medical robotics,” Jian Zhang, founder and CEO of Noah Medical, said in a release. “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 was designed to improve location accuracy and successful diagnosis of lung nodules during a bronchoscopy. The platform recently received FDA clearance for commercial use in the US and has initiated first-in-human trials at Macquarie University Hospital in Sydney, Australia.
The system uses Noah Medical’s proprietary TiLT+ Technology, which includes integrated tomosynthesis and augmented fluoroscopy, a single-used disposable bronchoscope, and a small, compact footprint. Noah Medical built TiLT+ Technology to overcome CT to body divergency by providing real-time navigation and lesion updates with readily available C-arm fluoroscopy.
Galaxy’s purpose-built four-way bronchoscope articulation enables navigation to peripheral lesions, according to the company. It is one of the only robotic navigated bronchoscopy systems on the market with a single-use, disposable bronchoscope. It aims to improve efficiency and workflow while also potentially reducing cross-contamination risks.
Zhang founded Noah Medical in 2018. He and Noah Medical are currently subject to litigation from Auris, which alleges the misappropriation of trade secrets. Noah Medical has filed a motion to have the lawsuit dismissed.