iThera Medical, a Munich, Germany-based medical device company that develops and markets optoacoustic imaging systems for preclinical and clinical research, closed a €13M funding round.
The round was led by TRUMPF Venture with participation from EIC Fund as co-investor in addition to existing investors Mey Capital Matrix, Wachstumsfonds Bayern, BayBG, Fluxunit, Falk Strascheg Holding, and Occident.
The company intends to use the funds to develop a MSOT device optimized for routine clinical use, to secure regulatory approval for deployment in Europe and the United States (CE and FDA approval), and to expand clinical evidence in priority clinical indications.
Led by Christian Wiest, CEO, iThera Medical has developed Multispectral Optoacoustic Tomography (MSOT), an imaging technology solution that utilizes the photoacoustic effect – describing the conversion of light energy into sound waves – to visualize optical contrast, at high resolution in deep tissue. MSOT has already demonstrated its potential clinical value in a wide variety of disease areas and is currently used for clinical research at leading academic hospitals worldwide.