Koya Medical Closes $11M Financing to Accelerate Treatment for Lymphedema and Venous Disorders
Koya Medical (www.koyamedical.com), a healthcare company focused on treating lymphedema and vein disease, today announced the close of a $11 million Series A investment round. The new investment was led by Arboretum Ventures. Jan Garfinkle, founder and managing director of Arboretum Ventures will join the board of directors and Josh Baltzell will continue as the Chairman. Aphelion Capital joins this round along with previous investors including Scientific Health Development Partners, Zühlke Ventures, Bolt, and InnerProduct Partners.
“Arboretum is excited to partner with Koya,” said Jan Garfinkle, Founder and Managing Partner at Arboretum Ventures. “Koya’s wearable untethered therapy represents a significant technological advancement and will provide lymphedema and venous insufficiency patients with much greater freedom in their day-to-day lives. We are delighted to be involved with a company that is providing patients with such an innovative platform.”
Koya Medical recently received FDA-clearance for the Dayspring™ product platform, a prescription only active wearable compression system for the treatment of lymphedema and venous insufficiency. Dayspring is the first FDA-cleared digitally connected system designed to enable patient mobility during use.
In two separate clinical studies, the Dayspring system has shown to be safe, effective, and to provide an improved quality of life for study participants. “Dayspring provides a comprehensive solution for patients with lymphedema and venous disease. These solutions allow the potential for the Dayspring platform to become the new standard of care,” said Stanley G. Rockson, M.D., Professor and Chief of Consultative Cardiology and the Director of the Stanford Center for Lymphatic and Venous Disorders at Stanford University in Stanford, California.
Initial results of these two clinical studies were presented at the British Lymphology Society’s Annual Meeting and the American Venous and Lymphatic Society (AVLS) 34th Annual Congress.
“Dayspring represents a breakthrough treatment for patients, bridging the convenience of a sleeve and the efficacy of a pump. We are excited to bring this wearable platform to patients with these debilitating chronic diseases. This milestone represents our entry into lymphatic and venous care and our commitment to develop innovative patient-centric solutions,” said Andy Doraiswamy, PhD, President and CEO. Koya Medical has won the 2019 MedTech Innovator Award, the 2020 UCSF Rosenman Innovator Award for its innovation, and is a recipient of the National Science Foundation (NSF) America’s seed fund.
