Israel-based endoscope maker 3NT said it has raised most of a $15 million funding round with backing by Japanese medtech giant Hoya.
The startup, which is located in Rosh Ha’Ayin, Israel, is working on a drivable endoscope for ear, nose and throat procedures it has dubbed Sinusway. Funds from the financing round are expected to go toward commercializing the device in the U.S. and Europe and the completion of 3NT’s pipeline of single-use endoscopes, the company said.
The venture marks the first investment in an Israeli firm for the Tokyo-based Hoya. Previous investors in 3NT include LongTec China Ventures and a consortium of angel investors, medical device industry veterans and ENT practitioners.
"We are honored to have HOYA join our team of investors. their investment is a strong validation of the team's efforts to establish single-use endoscopy platforms as the next standard of care in ENT," Ehud Bendory, 3NT’s chief executive, said in a statement.
In the endoscope arena, Boston Scientific snapped up EMcision for an undisclosed price in March to expand its endoscopic portfolio. That acquisition gave Boston Scientific ownership of an FDA-approved endoscopic device that ablates gastrointestinal tissue using radiofrequency waves.