iotaMotion Raises $2 Million To Develop Surgical Robotics For Cochlear Implantation
IOWA CITY, Iowa, Aug. 16, 2017 /PRNewswire/ — iotaMotion, Inc., a medical device start-up spun out from the University of Iowa’sOtolaryngology Department, announced today that the company has raised $2 million in a seed financing round to fuel the development of novel robotic systems for cochlear implantation surgery.
The iotaMotion technology will enable surgeons to achieve more precise, individualized solutions for patients experiencing various types of hearing loss. IOTA-Soft™ is the company’s robotic-assisted insertion device, which will allow surgeons to advance cochlear implant electrodes with the precision of robotics. Controlled insertion will allow for less surgical variability in outcomes and results, helping to protect existing structures from the damage of manual insertion. This is especially critical when working with hybrid hearing solutions where the patient has retained residual hearing capacity.
“We’ve completed our seed round, raising over $2 million within a few months from friends and family in the Midwest and around the world,” said Chris Kaufmann, MD, co-founder of iotaMotion. “The reception and excitement from both the cochlear implant community and strategic investors is a testament to the clear clinical need and the surgeon-centric robotics-assisted systems we are developing. The funds will be used to further our development efforts for the IOTA-Soft robotic-assisted cochlear implant insertion system.”
“The core technology being developed at iotaMotion is notable in its simplified approach to robotic-assisted systems. Our aim is to develop devices that open up access to cochlear implant surgery for a wider audience of both surgeons and patients,” said Marlan Hansen, MD, co-founder of iotaMotion. “We are especially grateful for the local and regional support that we received early on from the University of Iowa, and the state, to help us get to this point.”
Read More of the Press Release at the Source: iotaMotion Raises $2 Million To Develop Surgical Robotics For Cochlear Implantation | 08/16/17 | Markets Insider