SEATTLE, Nov. 10, 2020 /PRNewswire/ -- Keiretsu Forum announced today that OtoNexus Medical Technologies was named 'Most Valued Company' at the virtual Keiretsu Forum Investor Capital Expo. Keiretsu Forum is the world's largest angel investor network with over 3,000 investors in over 50 chapters on three continents. Keiretsu Forum has invested more than $750 million into more than 1,000 companies since its inception.
Investors selected OtoNexus from a highly competitive company showcase featuring 36 growth stage companies. Nearly 50 angel groups, investors from 100+ Family Offices, corporate partners, and hundreds of accredited investors attended the event. "Now winning the Most Valued Company award for the third time, our investors have consistently voted OtoNexus a tremendous growth-stage opportunity, and as an example of the high-quality deal-flow, we have seen throughout 2020, particularly in life sciences and technology. OtoNexus is also a showcase for how angel funding can be leveraged from seed to syndication of growth-stage deals, and a strategic catalyst to finalize product development and testing for market introduction," said Nathan McDonald, Chairman, Keiretsu Forum Northwest & Rockies Region.
OtoNexus has developed the world's first ultrasound hand-held device to evaluate the four disease states of middle ear infection. With the tools available today, detection accuracy is approximately 50% in the critical differentiation of viral versus bacterial infections. As a result, middle ear infections are the #1 reason for antibiotic prescriptions and #1 reason for surgery in children.
"Our goal is to decrease the usage of antibiotic therapy by 50% for the treatment of middle ear infections," said Caitlin Cameron, CEO OtoNexus Medical Technologies. We are delighted that Keiretsu Forum investors recognize our unique technology's value to provide the critical information physicians need to prescribe antibiotics for middle ear infections confidently. We believe this technology will benefit generations to come."
The OtoNexus device has the potential to:
- Minimize the use of unnecessary antibiotics in the treatment of middle ear infections
- Improve patient outcomes with timely, accurate diagnosis and treatment
- Reduce the cost of care by decreasing the number of follow up visits due to adverse antibiotics side effects and referrals to specialists
About OtoNexus Medical Technologies Inc.
OtoNexus has developed the world's first hand-held medical device with miniaturized ultrasound technology to instantly and accurately diagnose middle ear infections. In less than 2 seconds, physicians can evaluate middle ear infections and know whether antibiotic therapy is appropriate. This definitive test will provide physicians the information they need to minimize the use of antibiotics, improve patient outcomes, and reduce the cost of care.
About Keiretsu Forum
Keiretsu Forum is a global investment community of accredited private equity angel investors, venture capitalists, and corporate/institutional investors. Keiretsu Forum was founded in 2000 by Randy Williams. Today Keiretsu Forum is a worldwide network of capital, resources, and deal flow with over 50 chapters on three continents. Keiretsu Forum members invest in high-quality, diverse investment opportunities. The community is strengthened through its involvement in social and charitable activities.
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Chair and Chief Executive Officer
OtoNexus Medical Technologies