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.
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 [email protected] 206-330-0610