EAGAN,
Minn., Sept. 13, 2023 /PRNewswire/ -- Sonex
Health, a leader in the ultrasound-guided treatment of common
orthopedic syndromes affecting the extremities, today announced the
closing of a Series B financing, raising a total of $40 million. The proceeds from this investment
will be used to significantly expand access of the company's
groundbreaking commercially available devices that use ultrasound
guidance to safely and effectively treat patients suffering from
the debilitating pain caused by carpal tunnel syndrome (CTS) and
trigger finger (TF) and allow those patients to rapidly return to
normal activities. KCK MedTech, a venture capital firm specializing
in medical technology investments, led the company's Series A and
Series B financings. In conjunction with this Series B financing,
the company also closed on a new debt facility with venture lender,
Horizon Technology Finance Corporation (NASDAQ: HRZN).
"We appreciate the continued support and confidence from KCK
MedTech and Horizon," said Bob
Paulson, president and CEO of Sonex Health. "With this
funding, we will continue expanding hand surgeons' access to
ultrasound-guided technologies that effectively treat the
significant pain and discomfort of patients suffering from CTS and
TF, as well as continue to rapidly expand real-world clinical
evidence demonstrating the clinical and health economic benefits of
providing treatment with ultrasound guidance."
Typically, carpal tunnel release (CTR) and trigger finger
release (TFR) procedures have been performed in a hospital or an
ambulatory surgery center (ASC). The Sonex Health devices used
under ultrasound guidance have allowed physicians to move CTR and
TFR procedures from surgical suites into lower-cost, office-based
procedure rooms to address the increasing patient demand for
less-invasive CTR and TFR procedures.
Rapid patient enrollment in two recent multi-center,
prospective, real-world clinical studies of CTR with ultrasound
guidance (CTR-US) demonstrated the strong patient demand and unmet
need for minimally invasive treatment options that allow patients
to return to their daily activities and work within days versus
weeks or longer often seen with surgical approaches. The most
recent clinical study also highlighted the ability of physicians
using CTR-US to treat patients suffering from bilateral CTS in a
single procedure visit, eliminating the need for patients to
schedule two separate procedure visits, and allowing patients to
rapidly return to normal activities and work following a
simultaneous bilateral CTR-US.
"We are excited to continue our support of Sonex Health as the
company continues to expand access to minimally invasive treatment
solutions for patients who have opted out of more
invasive procedures," said Karen
Long, senior managing director of KCK MedTech. "Highly
positive patient and surgeon experiences are a strong indication
that carpal tunnel release using ultrasound guidance is poised to
become the standard of care."
ABOUT SONEX HEALTH
Sonex Health, Inc. is a leader in innovative ultrasound-guided
therapies to treat common orthopedic conditions affecting the
extremities, including entrapment neuropathies and tendinopathies.
The company's proprietary devices allow surgeons to use real-time
ultrasound guidance to visualize critical anatomy throughout
procedures, thereby reducing both invasiveness and the cost of
care, and enabling patients to return to their normal activities
sooner. The company's first commercial device, UltraGuideCTR™, was
designed to treat carpal tunnel syndrome and received FDA clearance
in 2019. The company's second commercial device,
UltraGuideTFR™ was designed to treat trigger finger, also known as
stenosing tenosynovitis, and was released in 2022.
For information about Sonex Health, UltraGuideCTR, and
UltraGuideTFR visit www.sonexhealth.com.
ABOUT the Institute of Advanced Ultrasound Guided
Procedures
Founded in 2018 to support the Sonex Health mission and clinical
excellence, the Institute of Advanced Ultrasound Guided Procedures
is focused on innovation supported by robust clinical research and
world-class professional education and training that transforms the
treatment experience for patients, providers, and payers. For more
information about the Institute visit
www.sonexhealth.com/educational-institute.
Contact:
Shelli Lissick
shelli@bellmontpartners.com
651-276-6922
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SOURCE Sonex Health