Sotelix Endoscopy, a Baltimore-based medical device company, has raised $1.7 million to further its research, development, and in-vivo testing of therapeutic endoscopes.
The company announced the funding round included investments from individual investors, entrepreneurs and other unnamed investors with expertise in clinical, technical and business fields.
Founded in March 2024 by Dr. Mouen Khashab, a professor of medicine at Johns Hopkins University’s School of Medicine, Sotelix designs and develops therapeutic endoscopes for gastrointestinal procedures requiring tissue closure, focusing on minimally invasive techniques.
Khashab, a recognized leader in therapeutic endoscopy, has authored more than 575 publications and holds over 10 endoscopic instrument patents.
Other co-founders include Dr. Venkata Akshintala, an associate professor at Johns Hopkins’ School of Medicine; Mohamad Khachab, who serves as chairman; and CEO John Schellhorn.
The healthcare sector is increasingly adopting revolutionary technologies to help improve workflow efficiency, patient safety, and therapy outcomes. Therefore, new cutting-edge technologies, including endoscopes, can be game-changing.
Dr. Khashab said the therapeutic endoscopy can potentially treat a wide variety of GI health conditions in minimally invasive ways. He added that Sotelix Health is committed to developing such tools to facilitate incision-free, allowing patients to recover quickly and return to their daily routines.
According to a GlobalData analysis, the global endoscopy devices market was valued at approximately $15.76 billion in 2023. The market is projected to grow at a compound annual growth rate of about 5.7%, reaching a valuation of approximately $28.94 billion by 2033.
