California's Sonitus Medical pulled in $25 million in a Series D round of VC funding, money that the company will put toward its in-the-mouth hearing device.
Abingworth, an international life sciences investor, led the round, and Sonitus plans to use the funds to market its SoundBite Hearing System in the U.S. "We view this financing as validation of both the ear, nose and throat market, and Sonitus Medical's emerging leadership in the bone-conduction hearing device category," company CEO Amir Abolfathi said in a statement.
Already armed with FDA 501(k) clearance, Sonitus' device is a removable hearing aid that transmits sound through the teeth, the first to do so without requiring surgery, according to the company. Bone conduction hearing devices are making their way into the marketplace, Abolfathi said, and this latest round of investment will help Sonitus take advantage of their growing popularity.
SoundBite is currently indicated to treat single-sided deafness and conductive hearing loss, but Sonitus wants to pursue other clearances for the in-the-mouth device, including to treat tinnitus and mixed hearing loss. And, presumably, $25 million will be of some help.
- read the company's statement