MINNEAPOLIS, June 13, 2018 /PRNewswire/ -- Preceptis Medical, Inc. today announced the successful closing of its Series B financing with follow-on funding led by Montesy Helen (HK) Limited. Preceptis Medical manufactures the Hummingbird® TTS (Tympanostomy Tube System) that enables alternatives to general anesthesia for pediatric ear tube placement. This Series B financing will allow Preceptis to expand its commercial infrastructure, complete its office study and develop future pipeline services and technologies. Further, Preceptis' Chinese partners will be distributing the Hummingbird in mainland China and Hong Kong. Mr. JC Sun served as the strategic advisor for the overall Series B investment and international distribution partnership.
Ear tube procedures are the most common pediatric procedure in the US (1.2M cases per year), but current surgical instrument limitations require that these procedures be performed in children using general anesthesia. The Hummingbird device is the only product that has received FDA clearance for conscious sedation, providing the pediatric healthcare community with an alternative to general anesthesia for ear tube procedures. "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," said Steve Anderson, CEO of Preceptis Medical.
About Preceptis Medical, Inc. Preceptis Medical manufactures pediatric surgical technologies designed especially for the unique needs of children. Its first product, the Hummingbird TTS, mitigates parental anxiety by enabling alternatives to general anesthesia for children's ear tube procedures and reduces healthcare costs by enabling the procedure to be performed out of the expensive operating room.