SONITUS MEDICAL SECURES STRATEGIC INVESTMENT AND TECHNOLOGY ADVANCEMENT AGREEMENT FROM IN-Q-TEL
In-Q-Tel Investment in Sonitus Medical Accelerates Development of Removable Device Intended To Undetectably Transmit Sound Via the Teeth
SAN MATEO, CA, - May 26, 2009 - Sonitus Medical, Inc., a medical device company developing the world's first non-surgical and removable hearing device to transmit sound via the teeth, today announced a strategic investment and technology advancement agreement with In-Q-Tel, the independent strategic investment firm that identifies innovative technology solutions to support the mission of the CIA and the broader U.S. Intelligence Community.
Sonitus Medical is developing a nearly invisible In-The-Mouth (ITM) hearing and communication platform that relies on the principle of bone conduction to undetectably transmit sound via the teeth to the inner ear. Its SoundBite™ Hearing System is designed to help people who are essentially deaf in one ear to rejoin the conversation of life.
"We are excited to join In-Q-Tel's notable portfolio of innovative technology companies" said Amir Abolfathi, CEO of Sonitus Medical. "This strategic partnership further legitimizes our SoundBite Hearing System as a novel and non-surgical clinical treatment for patients who are essentially deaf in one ear. The investment by In-Q-Tel also allows us to take the logical next step toward developing our platform technology for a number of other non-medical communication applications."
"Sonitus Medical's technology capability is an important addition to our strategic investment portfolio," said Troy M. Pearsall, Executive Vice President of Architecture and Engineering at In-Q-Tel. "The advanced technology inside this removable, comfortable to wear, and discrete device employs the well understood principle of bone conduction in a unique form factor. We are also excited by the company's product roadmap, as it offers great promise for both the private and public sectors."
The In-Q-Tel investment follows an earlier funding round in 2008 led by Aberdare Ventures and Novartis Venture Funds, and a previous round led by RWI Ventures.
In-Q-Tel is the not-for-profit, strategic investment firm that works to identify, adapt, and deliver innovative technology solutions to support the mission of the U.S. Intelligence Community. Launched by the CIA in 1999 as a private, independent organization, In-Q-Tel's mission is to identify and partner with companies developing cutting-edge technologies that serve the national security interests of the United States. Working from an evolving strategic blueprint defining the Intelligence Community's critical technology needs, In-Q-Tel engages with entrepreneurs, growth companies, researchers, and investors to deliver technologies that provide superior capabilities for the CIA and the larger Intelligence Community. In-Q-Tel concentrates on several broad commercial technology areas, including applications software and analytics; bio, chemical, and nanotechnology; communications and infrastructure; digital identity and security; and embedded systems and power. To date, In-Q-Tel has engaged with more than 140 companies and delivered more than 140 technology solutions to the Intelligence Community. To learn more about In-Q-Tel, visit www.iqt.org.
About Sonitus Medical
Sonitus Medical Inc. is a privately held medical device company developing the SoundBite Hearing System, a non-surgical and removable hearing solution that imperceptibly transmits sound via the teeth. Relying on the principle of bone conduction, this nearly invisible in-the-mouth (ITM) hearing & communication platform is initially intended as a simple and non-invasive treatment for hearing disorders such as Single Sided Deafness, and tinnitus. Potential future applications include consumer and covert communications. Founded in June 2006, Sonitus Medical is headquartered in San Mateo, California. To learn more about Sonitus Medical, please visit www.sonitusmedical.com.
SoundBite Hearing System is the world's first and only non-surgical and removable hearing solution that imperceptibly transmits sound via the teeth to help people who are essentially deaf in one ear to rejoin the conversation of life. A nearly invisible digital audio device, SoundBite relies on a well-established principle called bone conduction to deliver clear, high quality sound, and is intended to restore normal hearing to people with either Single Sided Deafness, conductive, or mixed hearing loss. The SoundBite system consists of an easy to insert and remove dental retainer-like device which requires no modifications to your teeth, and a small microphone unit worn behind-the-ear. This device is for investigational use only and is currently undergoing clinical trials that are intended to support an initial filing for FDA 510(k) clearance for Single Sided Deafness.