Boulder-based Sophono Inc., a medical device manufacturer specializing in implantable, bone conduction hearing devices, announced Monday that it has closed on $7 million in new financing.
Leading the series B round of financing was Wexford Capital LP, a $5.1 billion investment advisor based in Greenwich, Conn. Paul A. Mieyal, Wexford’s vice president and director of Life Sciences Investments, and Mark Zand, a Wexford partner, will join Sophono’s board of directors.
Sophono will use the new financing for product and business development, including increasing the size of its international sales force and expanding manufacturing facilities in Boulder, Jim Kasic, the company’s president and CEO, said in a statement.
“The new funding demonstrates the continuing belief in Sophono’s business model and opportunities,” said Kasic. “While our products are already helping people throughout the world, we will now be able to reach some of the more than two million individuals standing to benefit from our technology.”
