Laguna Hills Dental Device Maker Raising $20MFriday, June 29, 2012
Sonendo Inc., a Laguna Hills-based maker of devices used in root canal procedures, said it agreed to terms on a $20 million equity financing round.
Sonendo said $9.2 million of that amount has been invested in an initial closing.
Sonendo plans to use the funding to finalize technology development, pay for clinical studies and commercialize its root canal device.
OrbiMed Advisors LLC of New York and NeoMed Management of Norway led Sonendo’s new financing round. They joined existing investors including Fjord Ventures in Laguna Hills in the round.
Sonendo was previously known as Dentatek Corp. and was founded in 2006.