OtoNexus Medical Technologies raised $7.9 million to fund development of its ultrasound device used to diagnose middle-ear infections in children and determine if antibiotics are needed for treatment. The Seattle-based company sold nearly $8 million in equity of its $9.2 million offering.
CEO Caitlin Cameron filed a Form D with the Securities & Exchange Commission, writing that the 1st sale date was December 30, 2016.
OtoNexus is developing an air-coupled ultrasound diagnostic device that identifies and characterizes fluid in the middle ear to determine if a physician should prescribe antibiotics. The device uses disposable tips and an interface to display data to the physician in seconds, according to the company.
