Local statup, Otolith Labs, this week announced that it has received a $20 million Series A financing round by Morningside Ventures.
Otolith Labs is a medical technology company that is currently developing noninvasive wearable medical devices for the treatment of vestibular disorders. According to the management, the new round of funding will be used to support the company’s ongoing clinical programs, anticipated FDA approval and first commercial launch of a prescription wearable device using its noninvasive Vestibular System Masking (nVSM) technology for the treatment of chronic vertigo.
Otolith Labs’ mission is to make daily living easier for the millions of Americans suffering from the symptoms of chronic vertigo and other vestibulogenic conditions. Chronic vertigo is a condition that prevents people from performing activities of daily living and has significant quality of life and economic impact. The team at Otolith Labs has developed a truly novel technology that could fundamentally change how chronic vertigo is treated today. Otolith Labs is leading the charge in developing a noninvasive and non-pharmacological therapy for those who have chronic vertigo and we look forward to being a part of this incredible journey. – Anthony Aiudi, Morningside Ventures.
Courtesy – Otolith Labs
