Avantis raises $10M in series C funding

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Avantis Medical Systems has closed $10 million in series C funding to establish selected Centers of Excellence across the United States; to facilitate the commercial launch of the Third Eye Retroscope; collect Level 1 evidence to further support its clinical utility; and to fund sales and marketing efforts.

MC Silicon Valley/Mitsubishi International led the funding, joined by existing investors including Montreux Equity Partners, Thomas J. Fogarty, MD, and CN Investment Partners. In connection with the Series C funding, Noboru Ohrui, manager of healthcare solutions at Mitsubishi International was named to Avantis’ board of directors.

The Third Eye Retroscope is an imaging device used in conjunction with a standard colonoscope that provides a retrograde view of the colon that complements the forward view of the colonoscope. The device is FDA 510(k) cleared for providing additional illumination and visualization during colonoscopy, and also has its CE mark for distribution in the EU, according to the Sunnyvale, Calif.-based company.