Inotec secures $33m in Series C funding led by Amadeus Capital Partners to expand US operations
The Cambridge wound care company raised the Series C financing from existing backers to fund US market expansion and product reimbursement.
≈ £26.1M at $1 = £0.7900 on 2 Dec 2024
Cambridge-based medical technology company developing continuous topical oxygen therapy devices to treat hard-to-heal chronic wounds.
Cambridge-based Inotec has secured $33m in Series C funding to expand the availability of its flagship wound care treatment across the United States. The investment round was led by existing backers Amadeus Capital Partners, Meltwind, Puhua Capital, and the Wealth Club.
The capital will be directed towards securing national reimbursement coverage for the company's NATROX O₂ therapy in the US market. Additional funds will be used to scale the leadership team and support international growth.
Inotec develops continuous topical oxygen therapy solutions designed to accelerate the healing of chronic wounds in both clinical and home settings. The wearable device delivers a direct flow of oxygen to the wound bed, offering a non-invasive alternative for patients suffering from non-healing injuries.
From the founder
"Inotec AMD’s global success is rooted in our dedication to patient-centric innovation, especially through our work with NATROX O₂,"
Craig Kennedy
CEO at Inotec
Investor perspective
"Amadeus backed Natrox from inception and it is fulfilling to see this best-in-class technology now available in a growing number of markets. NATROX O₂ is already authorised to sell in 46 countries. It is becoming the reference advance therapy for the healing of chronic wounds across private and public health systems globally. Securing national coverage in the US is another step forward for the team."
Pierre Socha
Partner, Amadeus
Use of funds
- 01Expand into international markets
- 02Grow the team
