Research & Development
Corinth MedTech completes USD12m equity financing
24 June 2019 -

Corinth MedTech, a urology healthcare company and the developer of the Veloxion System, for the treatment of BPH (Benign Prostatic Hyperplasia) and TURBT (Transurethral Resection of Bladder Tumor), announced on Friday that it has completed a USD12m equity financing.

ShangBay Capital LLC and Aethan Capital Inc led the financing, in addition to the firm's present investors.

Corinth MedTech will use the funds from the financing to launch the commercialisation of the Veloxion System that received United States Food and Drug Administration (FDA) 510(k) approval in May 2019. The company projects a combined USD2 billion plus global market opportunity for its Veloxion System.

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