Otolith Labs Announces $20 Million Series A Financing By Morningside Ventures
09/07/22, 11:09 AM
Location
washingtonMoney raised
$20 million
Industry
health care
medical device
medical
biotechnology
Round Type
series a
Otolith Labs, a medical technology company developing noninvasive wearable medical devices for the treatment of vestibular disorders, today announced the closing of a $20 million Series A financing round by Morningside Ventures. Building on prior investments from businessman Mark Cuban and leading ENT physicians, the proceeds will be used to support the company’s ongoing clinical programs, anticipated FDA approval and first commercial launch of a prescription wearable device using its noninvasive Vestibular System Masking (nVSM) technology for the treatment of chronic vertigo.
Company Info
Location
massachusetts ave nw
washington, district of columbia, united states
Additional Info
Otolith Labs is developing prescription medical devices for the treatment of vestibular disorders, conditions experienced by millions of Americans. Its flagship product, a patented noninvasive Vestibular System Masking (nVSM) technology, is intended to be the first prescription wearable device for the treatment of chronic vertigo, a symptom that affects more than 4 million Americans. The device, whichreceived Breakthrough Device Designation from the FDA, uses precisely tuned vibrations to interact with the acceleration sensors in the inner ear, mitigating the symptoms of vertigo. Otolith is conducting clinical trials to evaluate its nVSM technology as an immediate symptom relief treatment for chronic vertigo associated with vestibular disorders.