Sonex Health – a leader in the ultrasound-guided treatment of common orthopedic syndromes affecting the extremities – recently announced the closing of a Series B funding round, raising $40 million. The proceeds from this funding will be used to significantly expand access to the company’s groundbreaking commercially available devices that use ultrasound guidance to safely and effectively treat patients suffering from the debilitating pain caused by carpal tunnel syndrome (CTS) and trigger finger (TF) and enable those patients to return to normal activities rapidly.
KCK MedTech (a venture capital firm specializing in medical technology investments) led the company’s Series A and Series B financings. In connection with this Series B financing, the company also closed on a new debt facility with venture lender Horizon Technology Finance Corporation (NASDAQ: HRZN).
Typically, carpal tunnel release (CTR) and trigger finger release (TFR) procedures are performed in a hospital or an ambulatory surgery center (ASC). Adn the Sonex Health devices used under ultrasound guidance enable physicians to move CTR and TFR procedures from surgical suites to lower-cost, office-based procedure rooms for addressing the increasing patient demand for less-invasive CTR and TFR procedures.
Rapid patient enrollment in two recent multi-center, prospective, and real-world clinical studies of CTR with ultrasound guidance (CTR-US) demonstrated the strong patient demand and unmet need for minimally invasive treatment options that allow patients to return to their daily activities and work within days versus weeks or longer often seen with surgical approaches. And the most recent clinical study also highlighted the ability of physicians using CTR-US to treat patients suffering from bilateral CTS in a single procedure visit, eliminating the need for patients to schedule two separate procedure visits, and allowing patients to rapidly return to normal activities and work following a simultaneous bilateral CTR-US.
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“We appreciate the continued support and confidence from KCK MedTech and Horizon. With this funding, we will continue expanding hand surgeons’ access to ultrasound-guided technologies that effectively treat the significant pain and discomfort of patients suffering from CTS and TF, as well as continue to rapidly expand real-world clinical evidence demonstrating the clinical and health economic benefits of providing treatment with ultrasound guidance.”
— Bob Paulson, president and CEO of Sonex Health
“We are excited to continue our support of Sonex Health as the company continues to expand access to minimally invasive treatment solutions for patients who have opted out of more invasive procedures. Highly positive patient and surgeon experiences are a strong indication that carpal tunnel release using ultrasound guidance is poised to become the standard of care.”
— Karen Long, senior managing director of KCK MedTech
