OAKLAND, Calif.– Koya Medical, a healthcare company on a mission to transform lymphatic and venous care through a comprehensive suite of innovative, people-centric platforms, today announced the close of a $26 million Series B financing. The round was led by 3×5 Partners, along with new investors including Asahi Kasei Ventures, Cadence Healthcare Ventures, and existing investors Arboretum Ventures and Scientific Health Development, among others.
Proceeds from the financing will be used to accelerate the expansion and commercialization of its Dayspring® active compression system. The company will also use the funds to continue to advance the Dayspring platform and clinical research programs to pursue additional indications for lymphedema and venous disorders.
Dayspring is the first active compression treatment that enables movement and mobility cleared by the U.S. Food and Drug Administration (FDA) to treat lymphedema and chronic venous conditions.
“Koya Medical is an innovative company that has the leadership, insights, and capabilities to bring ground-breaking treatment options that provide greater freedom and more mobility to patients with lymphedema and venous disorders,” said Joe Biller, managing director of 3×5 Partners. “Investing in the people behind transformative healthcare companies like Koya is at the core of 3×5’s strategy.”
“Welcoming new investors alongside our existing investors further validates our progress and commitment to developing innovative patient-centric solutions. We are proud to have the support of experienced medtech investors who believe in our vision to reimagine treatment options that transform lymphatic and vein care and impact the lives of millions of patients,” said Andy Doraiswamy, Ph.D., Koya Medical founder, president, and CEO. “The financing strengthens our ability to provide a comprehensive suite of active compression solutions that enable natural movement and muscle use to promote healthy fluid flow and help improve the quality of daily life for people living with lymphedema, venous insufficiency, and other chronic swelling disorders.”
“The Koya team has continued to hit its milestones and follow through on its commitments. We have every confidence that this team will continue to deliver on building its robust portfolio and broad clinical evidence, and its development and commercialization capabilities,” said founder and managing partner, Jan Garfinkle of Arboretum Ventures. “We look forward to supporting the team and company in the next phase of its growth.”
