Ithera Medical raises 13 million euros

The medtech thus concludes its Series D financing round. Investors include Bayern Kapital.

Munich-based medtech Ithera Medical raises a total of 13 million euros in its Series D financing round. The round was led by Trumpf Venture. Existing investors such as Bayern Kapital, which invests with money from the Bavarian Growth Fund, also participated again. The European Council Fund of the EU Commission, Mey Capital Matrix and Fluxunit also invested in the company. The company intends to use the capital to move beyond the study phase and bring its own product to market maturity. The aim is to obtain regulatory approval in Europe and the USA.

The start-up impressed investors with its technology for optoacoustic imaging in medical diagnostics. Ithera Medical has developed the so-called MSOT technology (Multispectral Optoacoustic Tomography), which can be used to diagnose various diseases such as cancer or fibrosis. The procedure uses the photoacoustic effect, i.e. the conversion of light energy into sound waves. This allows different types of tissue in the body to be characterized, differentiated and converted into 3D images.

According to the company, the technology is currently being used in clinical research at academic hospitals worldwide. Medtech was founded in 2010 as a spin-off from the Helmholtz Center Munich. The aim at the time was to commercialize the research results. Today, 45 people work for the start-up.