Illumi Medical Completes Series A with 340M Yen Funding

Illumi Medical Inc., which aims to revolutionize medical technology using light, is pleased to announce that it has completed the first close of its Series A round, raising a total of 340 million yen, with UntroD Capital Japan Co., Ltd. as the lead investor. In addition to additional investments from all investors who contributed in the seed round, this round also saw investment from SMBC Venture Capital as a new investor. The company plans to raise additional funds in the second close of Series A by the end of this year.

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The Series A proceeds will be used to:

Promoting product development and transferring production to mass production plants for developed products.
Building a stable supply system for devices that ensure quality and safety in preparation for clinical trials.

Implementing a global pharmaceutical and insurance strategy.
Forming alliances with overseas companies and implementing a pharmaceutical and insurance strategy aimed at obtaining global approval in preparation for international joint clinical trials with global pharmaceutical companies.

Expanding the treatment and diagnostic pipeline
Expanding the pipeline through alliances with new pharmaceutical companies that apply phototherapy technology, and conducting business development and research and development aimed at adapting to new disease areas (nervous system diseases)

Securing core personnel and strengthening the organizational structure
Actively recruit specialists in medical device development, pharmaceutical affairs, business development, etc., and establish a system with an eye toward global expansion.

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