Noah Medical Raises $150 Million for its Lung Biopsy Robotics Device
Posted on 04/22/2023
Noah Medical is a San Carlos, CA-based medical robotics provider. Noah Medical raised US$ 150 million in a Series B round. The round was co-led by Softbank Vision Fund and Prosperity7 Ventures. Hillhouse Capital, Sequoia Capital China and UpHonest Capital were among the investors that participated in the round. Other investors in the round include Shangbay Capital, Uphonest Capital, Sunmed Capital, Lyfe Capital, 1955 Capital, and AME Cloud Ventures.
In March 2023, the U.S. Food and Drug Administration (FDA) cleared Noah Medical’s lung bronchoscopy device for commercial use in the U.S. Known as the Galaxy system, the platform snakes a robotic arm through the lung’s airways and looks for cancer cells among the tissue. Galaxy’s purpose-built four-way bronchoscope articulation enables navigation to peripheral lesions, according to the company. The same robotic device is currently undergoing clinical trials in Sydney, Australia.
Jian Zhang is the Founder of Noah Medical and formed the company in 2018. Jian Zhang and Noah Medical are currently subject to litigation from Auris Health, which alleges the misappropriation of trade secrets. Noah Medical has filed a motion to have the lawsuit dismissed. Johnson & Johnson’s robotic surgery unit accused some former employees of “shameless, systematic and ongoing misappropriation of trade secrets.”
Keywords: Softbank Group Corporation.