Research & Development
Corinth MedTech announces USD12m from Series D funding
24 June 2019 -

Urology company Corinth MedTech stated on Friday that it has raised USD12m under its equity financing led by ShangBay Capital LLC,Aethan Capital Inc as well as existing investors.

Proceeds from the financing will be used by Corinth MedTech to launch the commercialisation of the Veloxion System, which received US Food and Drug Administration (FDA) 510(k) clearance, for the treatment of BPH (Benign Prostatic Hyperplasia) and TURBT (Transurethral Resection of Bladder Tumor).

Concurrent with the financing, William Dai, founding partner of ShangBay Capital, will join the Corinth MedTech's board of directors.

Additionally, ShangBay Capital is Corinth MedTech's new investor, said president and CEO Csaba Truckai.

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