Preceptis Medical develops pediatric surgical technologies, with its first product the Hummingbird TTS—a tympanostomy tube system that is the only FDA‑cleared device for ear tube procedures using conscious sedation. The Hummingbird TTS lets anesthesiologists adjust sedation for a quick, minor procedure and has demonstrated safety and efficacy in U.S. clinical trials and pilot commercial use. The device reduces healthcare costs by enabling the procedure to be performed outside the operating room and offers added convenience for families. There are approximately 1.2 million ear tube procedures annually in the U.S., and millions of similar procedures worldwide, representing the addressable clinical need. Preceptis plans a full commercial release in the U.S., followed by launches in China and other international markets. The company intends to use proceeds from its Series B to expand commercial infrastructure and to develop future pipeline technologies. Preceptis Medical is a Minnesota startup developing the Hummingbird, a device intended to place ear tubes in young children with minimal general anesthesia. The Hummingbird is investigational and is being tested in four Minnesota test centers, including the Mayo Clinic. The device is designed to let doctors make the incision and insert the tube simultaneously and uses nitrous oxide instead of general anesthesia. The company aims to move these procedures out of the operating room so children avoid general anesthesia. A regulatory filing shows Preceptis recently raised $976,000 in debt. The company has said it hopes the device, which would require FDA clearance, will be on the market next year. Preceptis Medical is a Plymouth, Minn.-based company that makes surgical tools for pediatric tympanostomy (ear tube) surgery. Its Preceptis ear tube introducer is designed to eliminate the need for general anesthesia during tympanostomies. The introducer is currently in a clinical trial ahead of an application for 510(k) clearance from the FDA. Preceptis closed a $4.4 million funding round to support the company. The capital was raised via an equity offering to 34 unnamed investors, according to a regulatory filing.

Total raised

$5M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Jun 2015