Hoya gets in on $15m round for 3NT Medical

3NT Medical said today that it drummed up “a major portion” of its maiden $15 million funding round from Japan’s Hoya Corp. (TYO:7741)

Rosh Ha’Ayin, Israel-based 3NT is developing the Sinusway drivable endoscope for ear, nose and throat procedures. Proceeds from the round are slated for commercializing Sinusway in the U.S. and Europe and the completion of the company’s line of single-use endoscopes.

Hoya, in its first venture investment in an Israeli firm, joins prior backers LongTec China Ventures and a consortium of angel investors, medical device industry veterans and ENT practitioners, 3NT said.

“We are honored to have Hoya join our team of investors. Their investment is a strong validation of the team’s efforts to establish single-use endoscopy platforms as the next standard of care in ENT,” CEO Ehud Bendory said in prepared remarks.

“Hoya’s  investment in 3NT continues our commitment to partner with innovative medical device companies that align with our core strategic areas of interest,” added Hoya chief legal officer and corporate development head Augustine Yee. “We are excited about 3NT’s disruptive visualization technologies, and the benefits their devices will bring to ENT surgeons and their patients.”

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