Tusker Medical said yesterday that it raised more than $10 million for the pediatric ear surgery device it’s developing.
The Menlo Park, Calif.-based company raised $10.2 million in an equity sale from a single unnamed investor, according to a regulatory filing.
Tusker, formerly known as Advanced ENT Solutions, is developing a new technique for tympanostomies, in which a tube is implanted across the tympanum to drain fluid from the middle ear. Unlike conventional tympanostomies, which are usually performed under general anesthesia, the Tusker procedure uses a low-level electrical current to deliver an ionic anesthetic drug. The system’s tube delivery device then implants the tympanostomy tube with a single-button delivery, according to Tusker’s website.
The system also incorporates behavioral support tools to help children and parents reduce the stress of the procedure, according to the site.
Tusker is led by CEO Amir Abolfathi, the inventor and founder behind Sonitus Medical and its tooth-conduction hearing aid. Although the Centers for Medicare & Medicaid Services denied reimbursement for the Sonitus device, the company found a new lease on life after the U.S. military adopted the technology.