BURLINGAME, Calif.--(BUSINESS WIRE)--Aug. 15, 2024-- Neptune Medical, a leader in medical device innovation, today announced the successful spinout of its subsidiary, Jupiter Endovascular, following the completion of a $97 million Series D financing. Sonder Capital and Olympus Corporation of the Americas were significant participants in this round, along with investments from other existing and new investors.

This financing will strengthen Neptune Medical as a gastrointestinal-focused company expanding into robotics for GI disease, as evidenced by the recent appointment of medical robotics pioneer Dr. Fred Moll as Chairman of the Board. It will also enable Jupiter Endovascular to focus on its novel endovascular technology platform.

"Neptune Medical is thrilled to announce the successful closure of our Series D financing and the spinout of Jupiter Endovascular. These significant milestones allow us to sharpen our focus on GI robotics while empowering Jupiter to drive innovation in endovascular treatments," said Alex Tilson, Founder and CEO of Neptune Medical. "We are grateful to our investors for their unwavering support and confidence in our vision."

Dr. Moll commented, "The spinout of Jupiter Endovascular is a strategic move that aligns with our long-term goals. With dedicated resources and leadership, Jupiter is well-positioned to revolutionize endovascular therapies. Meanwhile, Neptune will continue to push the boundaries in GI robotics, delivering transformative solutions to patients and healthcare providers. We intend for both companies to lead the way in innovating within their respective specialties."

Chief Strategy Officer for Olympus, Gabriela Kaynor, added, "We are excited to participate in this financing round for Neptune Medical. We believe Neptune's innovative approach to endoscopy has the potential to elevate the standard of care by improving patient outcomes."

About Neptune Medical

Neptune Medical is at the forefront of developing advanced medical devices, with a primary focus on gastrointestinal robotics. The company's mission is to enhance patient outcomes through innovative technology and collaborative partnerships.

About Jupiter Endovascular

Jupiter Endovascular, a spinout of Neptune Medical, is developing a new class of endovascular procedures to bring the precision and control of direct surgical access to catheter-based interventions.

About Olympus Corporation

At Olympus, we are committed to Our Purpose of making people’s lives healthier, safer and more fulfilling. As a global medical technology company, we partner with healthcare professionals to provide best-in-class solutions and services for early detection, diagnosis and minimally invasive treatment, aiming to improve patient outcomes by elevating the standard of care in targeted disease states.

For more than 100 years, Olympus has pursued a goal of contributing to society by producing products designed with the purpose of delivering optimal outcomes for its customers around the world.

For more information, visit www.olympus-global.com and follow our global X account: @Olympus_Corp.

About Sonder Capital

Sonder’s team of veteran investors, innovators, founder-operators, and company builders is known not only for their individual achievements, but also for their collective success in creating, funding, and leading private and public companies that have transformed healthcare for millions of patients globally — including Intuitive Surgical (NASDAQ:ISRG), Procept Biorobotics (NASDAQ:PRCT), Shockwave Medical, Auris Health, and Reflexion Medical, among others. Sonder’s extensive network of limited partners is global and includes industry leaders, high-net-worth individuals, and leading family offices focused on investing in game-changing healthcare technologies. Sonder Capital was co-founded in 2019 by healthcare luminaries Jay Watkins and Fred Moll, M.D.

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Source: Neptune Medical