Auris Health has received funding under the financing round led by Partner Fund Management.

New investors such as Wellington Management, D1 Capital Partners and Senator Investment Group and existing investors such as Mithril Capital, Lux Capital and Viking Global Investors also participated in the round.

With the addition of latest funding, Auris Health has gathered over $700m to date.

The Monarch Platform has already secured approval from the US Food and Drug Administration (FDA) for use in diagnostic and therapeutic bronchoscopic procedures.

With the support of controller interface, the system navigates flexible robotic endoscope to the periphery of the lung.

The Monarch platform offers continuous bronchoscope vision, computed guidance and precise instrument control across the procedure to the physicians by aggregating traditional endoscopic views with computer-assisted navigation based on patient-specific 3-D models.

The firm is further advancing the ability of Monarch technology to enable more accurate diagnosis and subsequent treatment of small and hard-to-reach nodules in the periphery of the lung.

According to the company, lung cancer is a major reason for cancer deaths across the world and most of the patients die every year from the disease than from prostate, breast, and colon cancers combined.

Auris Health founder and CEO Frederic Moll said: “The support of this group of world-class investors will be instrumental as Auris transitions into a commercial-stage company.

“We are pleased with our progress in launching the Monarch Platform, which was initiated earlier this year.

“This funding will enable us to expand our commercialization efforts for endobronchial applications, and will also support our mission to pioneer the next era of medical intervention across a broader spectrum of procedures.”

Auris Health is engaged in the development of advanced platforms to optimize physician capabilities, expand minimally invasive techniques and create new categories for optimal patient outcomes.

The company intends to advance medical intervention by incorporating robotics, micro-instrumentation, endoscope design, sensing, and data science into one platform.