Koya Medical has announced the close of a US$26 million Series B financing. The round was led by 3×5 Partners, along with new investors including Asahi Kasei Ventures, Cadence Healthcare Ventures, and existing investors Arboretum Ventures and Scientific Health Development, among others.
Proceeds from the financing will be used to accelerate the expansion and commercialisation of its Dayspring active compression system, a press release details. The company will also use the funds to continue to advance the Dayspring platform and clinical research programmes to pursue additional indications for lymphoedema and venous disorders.
According to Koya Medical, Dayspring is the first active compression treatment that enables movement and mobility cleared by the US Food and Drug Administration (FDA) to treat lymphoedema and chronic venous conditions.
“Koya Medical is an innovative company that has the leadership, insights, and capabilities to bring groundbreaking treatment options that provide greater freedom and more mobility to patients with lymphoedema and venous disorders,” said Joe Biller, managing director of 3×5 Partners. “Investing in the people behind transformative healthcare companies like Koya is at the core of 3×5’s strategy.”
“Welcoming new investors alongside our existing investors further validates our progress and commitment to developing innovative patient-centric solutions. We are proud to have the support of experienced medtech investors who believe in our vision to reimagine treatment options that transform lymphatic and vein care and impact the lives of millions of patients,” said Andy Doraiswamy, Koya Medical founder, president, and CEO. “The financing strengthens our ability to provide a comprehensive suite of active compression solutions that enable natural movement and muscle use to promote healthy fluid flow and help improve the quality of daily life for people living with lymphoedema, venous insufficiency, and other chronic swelling disorders.”
“The Koya team has continued to hit its milestones and follow through on its commitments. We have every confidence that this team will continue to deliver on building its robust portfolio and broad clinical evidence, and its development and commercialisation capabilities,” said founder and managing partner, Jan Garfinkle of Arboretum Ventures. “We look forward to supporting the team and company in the next phase of its growth.”