Earlier in the week, we reported that Lantos Technologies had named Jeffrey Leathe as its new chairman and CEO, along with raising $4.1 million in Series B. Leathe spoke briefly with FierceMedicalDevices this week and discussed a little more about the company.
Lantos' technology came from the labs of Professor Douglas Hart of MIT's mechanical engineering department, a novel 3D scanning technology that could "revolutionize all things custom made for ears," according to the company's website.
As Xconomy noted last year, Hart was one of the co-inventors of the 3D oral imaging technology behind Brontes Technologies, which the conglomerate 3M ($MMM) bought for $95 million in 2006. If Hart and his colleagues could tackle imaging in the mouth, why not ears? The resulting 3D digital scanner can measure ear canal shape and tissue compliance, eliminating the uncertainties associated with manual fits.
Leathe said he was attracted to the company because of this promising technology, the aggressive team, and the fact he had worked with the investors before. He hopes to position the company for widest market penetration, including in the military, hearing aid and consumer markets. Indeed, the military is extremely interested in the technology; the U.S. Army contacted Lantos and will be involved in the first major clinical trial.
The company, which employs 9, will look to continue to grow its scientific team and eventually staff up on the product manager and administrative side. However, it is currently focused on wrapping up development and launching its product. Leathe also told FMD that his company will absolutely look for partners in every market. In terms of funding, Leathe said the current infusion of cash will help the company tremendously. It will probably seek more cash late next year.
In 2010, the company raised $1.6 million in Series A financing.