Koya Medical has announced the close of a US$26 million Series B financing. The round was led by 3×5 Partners, along with new investors including Asahi Kasei Ventures, Cadence Healthcare Ventures, and existing investors Arboretum Ventures and Scientific Health Development, among others.
Proceeds from the financing will be used to accelerate the expansion and commercialisation of its Dayspring active compression system, a press release details. The company will also use the funds to continue to advance the Dayspring platform and clinical research programmes to pursue additional indications for lymphoedema and venous disorders.
According to Koya Medical, Dayspring is the first active compression treatment that enables movement and mobility cleared by the US Food and Drug Administration (FDA) to treat lymphoedema and chronic venous conditions.