Neptune Medical, a leader in medical device innovation, announced the successful spinout of its subsidiary, Jupiter Endovascular, following the completion of a $97 million Series D financing. Sonder Capital and Olympus Corporation of the Americas were significant participants in this round, along with investments from other existing and new investors.
This financing will strengthen Neptune Medical as a gastrointestinal-focused company expanding into robotics for GI disease, as evidenced by the recent appointment of medical robotics pioneer Dr. Fred Moll as Chairman of the Board. It will also enable Jupiter Endovascular to focus on its novel endovascular technology platform.
“Neptune Medical is thrilled to announce the successful closure of our Series D financing and the spinout of Jupiter Endovascular. These significant milestones allow us to sharpen our focus on GI robotics while empowering Jupiter to drive innovation in endovascular treatments,” said Alex Tilson, Founder and CEO of Neptune Medical. “We are grateful to our investors for their unwavering support and confidence in our vision.”
Dr. Moll commented, “The spinout of Jupiter Endovascular is a strategic move that aligns with our long-term goals. With dedicated resources and leadership, Jupiter is well-positioned to revolutionize endovascular therapies. Meanwhile, Neptune will continue to push the boundaries in GI robotics, delivering transformative solutions to patients and healthcare providers. We intend for both companies to lead the way in innovating within their respective specialties.”
Chief Strategy Officer for Olympus, Gabriela Kaynor, added, “We are excited to participate in this financing round for Neptune Medical. We believe Neptune’s innovative approach to endoscopy has the potential to elevate the standard of care by improving patient outcomes.”
SOURCE: Businesswire