Auris Receives $220M Funding for Monarch Platform, Robotic Lung Endoscopy

Auris Health has recently received $220 million in equity financing to further commercialize their Monarch platform, a robotic endoscopy system. This system has been approved by the FDA for use in diagnostic and therapeutic bronchoscopic procedures and utilizes a revolutionary interface.

This funding was received from a financing round led by Partner Fund Management, with Wellington Management, D1 Capital Partners, Senator Investment Group, Mithril Capital, Lux Capital and Viking Global Investors also partaking in the round. This latest influx brings Auris Health’s total funding to over $700 million to date.

The Monarch platform incorporates a video game-like controller into the procedure, with the surgeon using it to navigate a flexible robotic endoscope throughout the branches of the lungs. Offering continuous bronchoscope vision, computed guidance and precise control of instruments, this system offers an innovative new technology to perform lung endoscopic procedures. It also aggregates the traditional endoscopic viewpoints with computer guided navigation based on 3D models unique to the patient.

Auris is planning to further develop Monarch’s ability to accurately diagnosis conditions and treat hard-to-reach areas of the lung, with the primary targeted disease being lung cancer. Being that lung cancer is a major cause of all cancer deaths across the world, the company feels that there is need for an endoscopic device that can better treat and diagnose the disease.

“The support of this group of world-class investors will be instrumental as Auris transitions into a commercial-stage company,” said Auris Health founder and CEO Frederic Moll. “We are pleased with our progress in launching the Monarch Platform, which was initiated earlier this year.

Moll also feels that this funding will allow his company to expand their “commercialization efforts for endobronchial applications” as well as support their overall mission to user in a new era of medical technology in numerous procedures.

Auris Health is involved in development of advanced systems that facilitate physician procedures, expand upon minimally invasive operations, and bolster optimal patient outcomes. Through use of robotics, micro-instrumentation, sensing, data science, and endoscope design in one platform, Auris intends to advance medical intervention with this funding.

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“Four hundred fifty people die every day in the United States due to lung cancer. It is the No. 1 cancer killer of both men and women in the world. Lung cancer screening has given us an opportunity to save some of these people by diagnosing the cancer early, while we have a chance to cure it. Despite the benefit, we still are limited by the current technology in making a diagnosis,” said Michael Simoff, M.D., director of interventional pulmonology at Henry Ford Health System in Detroit. “The development of new advanced technology, like the Monarch Platform, could allow us the opportunity to make the diagnosis early, which translates directly to saving lives.”

Sources: Compelo, Auris Health, ITN Online