Preceptis Medical said yesterday it closed a Series B round of financing to help support its Hummingbird tympanostomy tube system designed for pediatric ear tube placement procedures.
The Plymouth, Minn.-based company’s Hummingbrid TTS tympanostomy tube system is designed to reduce pain for pediatric patients undergoing ear tube procedures, allowing moderate, conscious sedation with no need for general anesthesia.
Preceptis said the Series B financing round was led by Montesy Helen Limited, and will support the expansion of the company’s commercial infrastructure, the completion of an office study and for development of future pipeline services and technologies.
The company added that it has found Chinese partners to distribute its devices in China and Hong Kong.
“Parents and pediatricians are unequivocal in their affirmation of the need for this technology for their children and we continue to see positive momentum with our pilot commercial release. We are also extremely excited to be adding a strong group of investors that will provide funding as well as Chinese commercialization expertise,” Preceptis Medical CEO Steve Anderson said in a press release.
Last August, Preceptis Medical said it launched trial of its Hummingbird tympanostomy tube system.