Corinth MedTech

About Corinth MedTech

Founded in 2014 by Csaba Truckai, Corinth MedTech, Inc. is a medical device company operating from San Jose, California, focused on the urology sector. The firm is dedicated to developing and marketing solutions for various urological disorders, intending to enhance patient health while meeting the needs of physicians and healthcare institutions in a cost-effective manner.

The company's core offering is the Veloxion™ System, a comprehensive platform for endoscopically controlled tissue resection. This system is primarily designed to treat benign prostatic hyperplasia (BPH) and for the transurethral resection of bladder tumors (TURBT). The market for these treatments is substantial, with estimates suggesting a combined global opportunity of over $2 billion. The Veloxion System received FDA 510(k) clearance in May 2019, with further clearance for a modified version in February 2023.

A key feature of the Veloxion System is that it is the first-of-its-kind single-use resectoscope for transurethral resection of the prostate (TURP) procedures. The system integrates a bipolar resecting device, a camera with a light source, and a fluid management system. This design aims to streamline procedures, reduce overall time, and provide a safer, more efficient tool for urologists. A proprietary feature, the Velo360™ technology, allows for single-handed rotation and visualization. Beyond its primary applications in BPH and bladder tumors, the technology also has potential applications in gynecology for treating conditions like intrauterine polyps and fibroids.

Corinth MedTech operates as a private entity and has successfully navigated several funding rounds to support its development and commercialization efforts. The company secured a $12 million Series D financing round in June 2019, led by ShangBay Capital and Aethan Capital, to fuel the commercial launch of the Veloxion System. Following this, in December 2020, it obtained a $5 million venture loan from Horizon Technology Finance Corporation for general working capital and to advance commercialization. The company initiated pre-market evaluations in July 2020, with plans for a commercial launch later that year.