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| Sonitus Medical secured $10 million in financing to market SoundBite.--Courtesy of Sonitus Medical |
Sonitus Medical is looking to make some commercial noise with its FDA-cleared and CE marked hearing device, and now the company has another $10 million to market the behind-the-teeth SoundBite system.
The California company has locked down a senior secured multi-draw term loan from GE Capital, money it'll use to expand its commercialization efforts. The latest raise follows a $25 million Series D in May, a round led by Abingworth.
The device is inserted into the mouth, using bone conduction to transmit sound through the teeth, and Sonitus said it's the first to do so without requiring surgery. The device consists of a removable hearing device that sits behind a patient's teeth and a small microphone unit worn behind the ear.
SoundBite has won indications to deal with single-sided deafness and conductive hearing loss, and Sonitus plans to pursue other clearances for the device, hoping to treat tinnitus and mixed hearing loss.
Sonitus launched SoundBite in Europe last year, following its 2011 stateside rollout, and the company is working through clinical studies to further demonstrate the device's worth.
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