Women's health company lands $21M Series D for uterine fibroid ablation

February 20, 2013 by MassDevice staff

California company Gynesonics lands a $21 million Series D funding round in support of its VizAblate ultrasound-guided uterine fibroid ablation system.

Gynesonics logo

Women's health devices maker Gynesonics landed $21 million in new financing in supports of its ultrasound-guided uterine fibroid ablation system, the company announced today.

The California company plans to use the funds to further clinical and commercial progress for its VizAblate system, a minimally invasive method for treating uterine fibroids and an alternative to hysterectomy.

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Funding was led by HBM Partners of Switzerland and included financing from new investor Correlation Ventures and existing investors Abingworth, Advanced Technology Ventures and InterWest Partners, according to a press release.

"Women's health is an important strategic field for a number of large healthcare companies and symptomatic uterine fibroids represent a large opportunity in this space," HBM partner Dr. Chandra Leo said in prepared remarks. "Based on its incision-less approach and promising clinical data, we believe that the VizAblate System will significantly improve gynecologists' treatment options for this common condition."

Ablation represents a major shift in uterine fibroid treatment. In traditional fibroid surgery a physician generally must either cut through healthy tissue to access the tumor or remove the uterus entirely, but ablation-based procedures offer a less invasive option.

Rival California company Halt Medical in November 2012 won FDA clearance for its Acessa system, which also uses radiofrequency energy to destroy uterine fibroids.