Ithera Medical raises 13 million euros

The medtech thus closes its Series D financing round. Bayern Kapital is one of the investors.

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. In addition, the European Council Fund of the EU Commission, Mey Capital Matrix and Fluxunit, among others, also gave money to the company. The company intends to use the capital to move beyond the study phase and bring its own product to market maturity. The goal is regulatory approval in Europe and the USA.

The start-up convinced the investors with its technology for optoacoustic imaging in medical diagnostics. Ithera Medical has developed the so-called MSOT technology (Multispectral Optoacoustic Tomography), through which various clinical pictures such as cancer or fibrosis can be diagnosed. The method uses the photoacoustic effect, i.e. the conversion of light energy into sound waves. In this way, different types of tissue in the body are characterized, differentiated and converted into 3D images.

Currently, the technology is used in clinical research at academic hospitals worldwide, according to the company. The medtech was founded in 2010 as a spin-off from Helmholtz Zentrum München. The goal at the time was to commercialize the research results. Today, 45 people work for the start-up.