Funding: eZono completes $10M round

January 8, 2013 by MassDevice staff

eZono AG, portable tablet ultrasound systems developer raises $10 million equity financing from MVM Life Science Partners.

German medical device company eZono AG, which develops portable tablet ultrasound systems, landed $10 miillion funding from MVM Life Science Partners to expand its R&D operations.

In addition, MVM partner Hugo Harrod will join eZono’s board of directors, according to the press release.

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"Having sold more than 450 eZono 3000 systems globally, we now take the next step with our novel needle guidance technology in 2013," eZono CEO Allan Dunbar said in prepared remarks."Ultrasound guided regional anesthesia is a key driver for patient safety and reducing cost in surgery but adoption is still slow because of the difficulties inherent in guiding the needle to the nerve. Our needle guidance technology addresses this and should accelerate adoption."

The eZono's 1st tablet-style portable ultrasound systems eZono 3000, which touted FDA clearance in 2011, features touch screen graphical user interface. Users can adopt ultrasound easily, while speed up the learning curve for a variety of regional anesthesia and emergency care procedures, the company said.

Compared with the existing solutions, eZono’s needle guidance technology uses existing standard needles in regional anesthesia with no change of practice or additional set-up time.

eZono is expected to expand its R&D operations in Jena, as well as invest in its global sales operations.

The company has 60% revenue growth in 2012, said CFO Andre Jaekel. He added that the funding allows eZono accelerate the introduction of its new technology and increase the growth.