SonoMotion Secures $10M Series B Funding to Advance Non-Invasive Kidney Stone Therapies

VCBeat (WeChat ID: vcbeat) has learned that on November 12, 2019, SonoMotion completed a $10 million Series B financing round. The round was co-led by medical device company Advanced MedTech (AMTH), along with existing investors MedVenture Partners and BioVentures Investors.

SonoMotion, a medical device company based in California, USA, was founded in 2014. The company’s ultrasound-based solution, Breakwave, non-invasively fragments kidney stones. SonoMotion also planned to launch Stone Clear in 2020; this product is currently undergoing clinical trials. Stone Clear is an ultrasound-based, non-invasive tool that repositions kidney stones within the kidneys and ureters and clears the resulting stone fragments within 15 minutes, without the need for general anesthesia or X-ray radiation. Both technologies are designed to provide greater convenience and comfort for patients and physicians, offering new options for stone treatment.

The proceeds from this financing round will be used to support the clinical development and commercialization of SonoMotion’s two breakthrough non-invasive kidney stone products. Additionally, this investment complements AMTH’s non-invasive product portfolio, strengthening its leadership position in urology and stone treatment.

Abel Ang, CEO of AMTH, stated, “Supporting the development of SonoMotion’s Break Wave and Stone Clear aligns with our commitment to investing in and advancing the most innovative, non-invasive solutions in global urology. Our focus is on delivering an optimal patient experience and achieving stone-free outcomes. We are impressed by the SonoMotion team’s expertise in lithotripsy technology and look forward to working closely with them to achieve our strategic objectives.”

Dr. Oren Levy, CEO of SonoMotion, added, “2020 will be a transformative year for SonoMotion. The newly raised funds will enable us to reach key milestones in the development of novel urological technologies in the coming months. We are delighted to welcome AMTH as a new investor and hold their expertise and leadership in urology in high regard. We look forward to working closely with them.”

Headquartered in Singapore, AMTH is the largest and fastest-growing medical technology company in Southeast Asia. Dedicated to the field of urology with a global business presence, the company is a leading player in the worldwide medical technology sector.

MedVenture Partners, established in 2013 and headquartered in Tokyo, Japan, is a venture capital firm. The company is dedicated to investing in the life sciences and medical device sectors, primarily focusing on seed and early-stage investments in startups.

Bioventures Investors is a private equity and venture capital firm based in Massachusetts, USA, specializing in the life sciences and healthcare sectors. It assists companies in these fields in developing advanced technologies and advancing their commercialization.

(Compiled by Jiang Ying)