MINNEAPOLIS--(BUSINESS WIRE)--Preceptis Medical, Inc., manufacturer of the Hummingbird TTS (Tympanostomy Tube System) technology that enables a conscious sedation alternative to general anesthesia for placing ear tubes in children, today announced the successful initial closing of a Series B financing led by a group of Chinese private investors. This Series B financing will allow Preceptis to expand its commercial infrastructure and develop future pipeline technologies. In addition, the new partners from China will assist Preceptis in accelerating global expansion by bringing its cutting edge technology to China. Mr. JC Sun served as the strategic advisor for the overall partnership and strategic planning.
Ear tube procedures are the most common pediatric procedure in the U.S. (1.2M cases per year) and are currently performed in children using general anesthesia — the only option until now. The Hummingbird TTS is the only product that has received FDA clearance for ear tube procedures using conscious sedation; giving anesthesiologists the ability to adjust the level of sedation needed for this quick, minor procedure. “The Hummingbird TTS has demonstrated its safety and efficacy in U.S. clinical trials and pilot commercial use. Parents and pediatricians have already shown that they will seek out otolaryngologists and hospitals that offer the Hummingbird TTS for ear tube procedures. The next step is a full commercial release in the US, followed by China and the rest of the world,” said Steve Anderson, CEO of Preceptis Medical, Inc.
About Preceptis Medical, Inc.
Preceptis Medical manufactures pediatric surgical technologies designed especially for the unique needs of children and the medical professionals that care for them. Its first product, the Hummingbird TTS, provides the first and only FDA cleared ear tube solution that doesn’t require general anesthesia in young children, reduces healthcare costs by enabling the procedure to be performed out of the O.R. and allows added convenience for families and their children. Annually, there are 1.2 million ear tube procedures in the U.S. in young children and millions of similar procedures worldwide.