The company that manufactures endodontic technology, Sonendo, had announced it had completed the latest of two equity financings announced from last year. The fundraiser had collected another US$18 million totalling US$27 million for both financing rounds.
The round was headed by OrbiMed Advisors LLC along with new investor Themes Investment Partners. Other participants include Fjord Ventures and NeoMed Management.
One of the agreements in the equity investment would be the inclusion of Frank Yu, co-founder and CEO of Themes Investment Partners in the Sonendo Board of Directors.
According to Sonendo President and CEO, Bjarne Bergheim, "Our goal is to transform endodontics by improving the clinical quality and business performance of practices performing root canal therapy. Sonendo has designed a breakthrough endodontic technology based upon Sound Science, which will enable root canals to be simultaneously cleaned in about five minutes."
Orbimed for its part is one of the largest healthcare focused fund managers in the world, with a portfolio worth US$7 billion.
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