Inotec, a Cambridge startup transforming wound care through innovation and a mission on continuous topical oxygen therapy has secured $33 million in Series C funding. The round was led by existing investors – Amadeus Capital Partners (which recently invested in PhoreMost and HyperHeat), Meltwind, Puhua Capital and the Wealth Club.
The proceeds from this round will be used to secure national reimbursement in the US for the company’s advanced therapy, NATROX O₂, ensuring broader accessibility for patients across the US. Additionally, the funds will support the expansion of the company’s leadership team, strengthening its global capabilities to drive future growth and innovation.
Demand for wound care therapies
More than 100 million people in the world suffer from wounds that will not heal. In the US, wound care costs the health services an estimated $97 billion annually, with chronic wounds making up $50 billion of that expense. In the UK, the NHS spends as much on wound care as it does on oncology, mostly because chronic wounds can’t be healed reliably until now. This is where Inotec comes into the picture as it focuses on developing advanced topical oxygen therapy solutions that enhance healing and improve patients’ quality of life.
How was the idea born?
Inotec was founded in 2003 with a commitment to address critical gaps in wound care. Motivated by his aunt’s pain from a stubborn venous leg ulcer, inventor Mel Vinton sought a way to heal wounds without causing harm. Discovering oxygen’s vital role in healing, he collaborated with Cambridge experts to create NATROX O₂, a topical oxygen therapy. This innovation led to a mission-driven company dedicated to developing medical technology for hard-to-heal wounds.
NATROX O₂, a topical oxygen therapy
The company’s flagship cTOT product, NATROX O₂, delivers a continuous flow of oxygen directly to the wound, creating an optimal environment for healing. It uses the natural properties of oxygen to heal wounds faster. NATROX O₂ is a compact, wearable device, which generates and delivers a continuous flow of oxygen directly to the wound bed to promote accelerated healing and foster a healthy wound environment.
Its non-invasive nature, coupled with its remarkable effectiveness, offers a significant advancement in chronic wound treatment, even allowing patients to be treated from the comfort of home and experience quality of life. It is available across all clinical and home care settings. It can be used during any phase of healing and works with most standard secondary dressing.
What’s next for Inotec?
Inotec’s future focuses on expanding access to its innovative NATROX O₂ therapy, aiming to set a global standard in chronic wound care. With authorisation in several countries, the company plans to enhance patient outcomes, secure US national reimbursement, and strengthen its leadership team. By prioritising patient-centric innovation, Inotec is well-positioned to revolutionise wound care worldwide.
Pierre Socha, Partner, Amadeus Capital Partners: “Amadeus backed Natrox from inception and it is fulfilling to see this best-in-class technology now available in a growing number of markets. NATROX O₂ is already authorised to sell in 46 countries. It is becoming the reference advance therapy for the healing of chronic wounds across private and public health systems globally. Securing national coverage in the US is another step forward for the team.”
“Inotec AMD’s global success is rooted in our dedication to patient-centric innovation, especially through our work with NATROX O₂,” said Craig Kennedy, CEO of Inotec AMD. “This latest round of financing underscores the confidence our investors have in our vision and our ability to make a significant impact in the wound care space providing life-altering improvements for our patients.”
