Funding: Halt raises $15M to commercialize its device to treat uterine fibroids

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Halt Medical closed a $15 million funding round from American Capital, aimed at commercializing its FDA-cleared Acessa System for treating uterine fibroids.

The Las Vegas, Nev.-based device maker said its Acessa system allows physicians to deliver radiofrequency energy to uterine fibroids through a minimally invasive procedure.

"We are delighted that American Capital, has chosen to once again lead financing for this critical new medical device,"Halt’s CEO Jeff Cohen said in prepared remarks. "Furthermore, there was significant participation by existing investors, validating our work to address one of the largest unmet needs in women’s health worldwide."

Last November, the FDA cleared Acessa system , the 1st product cleared, which can be used by gynecologists to treat all fibroid symptoms and type, the company said.

Fibroids are the leading global cause of hysterectomy procedures, according to the Centers for Disease Control.

In traditional fibroid surgery, a physician generally must either cut through healthy tissue to access the tumor or remove the uterus entirely, according to Halt Medical.

A patient treated with Acessa can typically leave the hospital the same day resume regular activities in 5 days or less, according to a press release.

"The high patient satisfaction and low re-intervention rates seen in Halt Medical’s clinical studies provides the opportunity for the healthcare system to replace radical surgery, save billions of dollars and, most importantly, relieve debilitating pain in millions of women," American Capital CEO Malon Wilkus said in prepared remarks.

The device has the CE Mark in the European Union and is licensed for sale in Canada, according to Halt medical.

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