Minerva Surgical reported a funding round worth $16.7 million and said it wants to raise $10 million more.
Redwood City, Calif.-based Minerva, founded in 2008, is developing technologies for treatment of abnormal uterine bleeding. Its flagship device is the Aurora endometrial ablation system, which targets and eliminates the endometrial hyperplasia in a procedure that takes as little as 4 minutes. The device won pre-market approval from the FDA in July 2015.
According to a regulatory filing, Minerva raised its latest funding from 18 unnamed investors beginning Dec. 16. The company raised about $25.6 million in a prior round back in 2014 and added another $15 million early this year. The company has raised nearly $114 million since its inception, according to regulatory filings.