SEATTLE, July 9, 2020 /PRNewswire/ -- OtoNexus Medical
Technologies Inc., announced today that Keiretsu Capital has
invested in OtoNexus for the fourth time. Keiretsu Capital and
Keiretsu Forum members are leading investors in OtoNexus with a
total of $13 million in funding since
the company's inception. The new investment round enables OtoNexus
to finalize product development and testing for market
introduction.
OtoNexus has developed the world's first ultrasound hand-held
device to evaluate the four disease states of middle ear
infection. With the tools available today, detection accuracy
is approximately 50%, in the key differentiation of viral versus
bacterial infections. As a result, middle ear infections are
the #1 reason for antibiotic prescriptions and #1 reason for
surgery in children.
According to OtoNexus CEO Caitlin
Cameron, "Our goal is to decrease the usage of antibiotic
therapy by 50% for the treatment of middle ear
infections. From the beginning, Keiretsu Capital has
understood how our unique technology empowers physicians to avoid
unnecessary prescriptions of antibiotics. With this funding, we are
one step closer to completing our product and realizing our goal.
We are thrilled by this endorsement of Keiretsu Capital."
Keiretsu Capital has invested from Keiretsu Capital
Co-investment Funds I, II, III and IV. "Early on Keiretsu Capital
identified OtoNexus Medical Technologies as a company that could
change the world. OtoNexus identified a huge unmet medical need and
developed a unique technology to solve the problem. We are
confident in this company and team; they continue to meet their
milestones and deliver on targets," said Nathan McDonald, Managing Partner and CEO of
Keiretsu Capital.
About Keiretsu Capital, LLC
Keiretsu Capital, LLC is an affiliate of Keiretsu Forum, the
world's leading angel investor network with over 3,000 investors in
over 50 chapters on 3 continents. Keiretsu Forum has invested more
than $750 million into more than
1,000 companies since inception. Keiretsu Capital
administers funds on behalf of its Limited Partners - the
Co-Investment & Opportunities Fund creates a diversified
portfolio of technology start-ups backed by top tier angel groups
and pursues the high upside value potential in these dynamic
investment opportunities while promoting the sharing of risk
inherent in any early stage venture. The firm is based in
Seattle and San Francisco and its principals are veteran
Silicon Valley and technology investors Randy Williams, Matthew
C. Le Merle and Nathan
McDonald.
For more information please
visit www.keiretsucapital.com or contact Keiretsu Capital
public relations at press@keiretsucapital.com
About OtoNexus Medical Technologies Inc.
OtoNexus has developed the world's first hand-held medical
device with miniaturized ultrasound technology to instantly and
accurately diagnose middle ear infections. In less than 2 seconds,
physicians can evaluate middle ear infections and know whether
antibiotic therapy is appropriate. This definitive test will
provide physicians the information they need to minimize the use of
antibiotics, improve patient outcomes and reduce the cost of care.
For more information please visit www.otonexus.com.
For more information:
Caitlin Cameron
Chair and Chief Executive Officer
OtoNexus Medical Technologies
caitlinc@otonexus.com
206-330-0610
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SOURCE OtoNexus Medical Technologies