Koya Medical Raises Capital to Support Growth

November 15, 2023—Koya Medical, which is focused on venous and lymphatic treatments, and OrbiMed, a health care investment firm, announced the closing of financing for up to $30 million. The capital will support Koya’s strategic expansion and continued growth, including its Dayspring treatment for lymphedema.

In April 2022, Koya Medical announced the United States launch of the Dayspring active compression system for the treatment of lymphedema and venous diseases in the lower extremities. The device received FDA clearance for treatment of the lower extremities in May 2021. It received clearance for treatment of the upper extremities in 2020 and was launched in 2021 for this indication.

“Lymphedema and chronic venous diseases have tremendous unmet needs where millions of patients suffer due to the progressive nature of these conditions and their debilitating impacts,” stated Andy Doraiswamy, CEO of Koya, in the press release. “With OrbiMed joining our journey, we will be able to make a stronger impact in improving patient lives. This partnership and funding will enhance our abilities to better serve our patients.”

Josh Baltzell, Board Chairman, Koya Medical, added, “Lymphedema treatments are an underserved area for many patients, and we are just beginning to understand the full impact these diseases have on patients’ daily lives. We are pleased to have OrbiMed join us along with our existing investors on this important mission.”

Matthew Rizzo, General Partner of OrbiMed, commented, “We are excited to partner with Koya on its journey to deliver innovative offerings that can help millions of patients living with these chronic conditions.”