Aegea Medical said this week it raised $17 million in a new financing round and released three-year follow-up data from the pivotal study of its Adaptive Vapor Ablation technology designed for use in endometrial ablation procedures.
The funding round was led by Solas BioVentures and its affiliates, with funds slated to support the company’s PACE II trial exploring the long-term effects of its Adaptive Vapor Ablation technology in endometrial ablation procedures, the Menlo Park, Calif.-based company said.
Funds from the round will also support the 2019 commercial launch of the company’s next-gen Adaptive Vapor Ablation system, Aegea Medical said.
“Aegea’s Adaptive Vapor Ablation technology offers physicians and patients a simple, elegant and safe treatment for treating a complex, underserved condition. The importance of being able to re-access the uterine cavity after endometrial ablation cannot be overstated. Aegea’s unique ablative medium has the potential to preserve less invasive options for patients. We believe we are just beginning to see the technology’s full potential, and we have confidence in its ability to become the new standard of care for treating menorrhagia,” Solas BioVentures co-founder & managing partner Dr. David Adair said in a prepared statement.
“We are fortunate to have found a partner in Solas BioVentures that truly appreciates our mission to provide patients with a natural treatment option that relieves their symptoms and restores their lives. This funding is an important milestone towards the commercialization of our next-generation Adaptive Vapor Ablation system, as well as research into the feasibility of preserving uterine cavity access following treatment,” Aegea Medical prez & CEO Maria Sainz said in a press release.
The company also released three-year results from the pivotal Aegea vapor system study, with results presented at the AAGL Global Conference on Minimally Invasive Gynecologic Surgery in Las Vegas.
Results from the 155-patient study, conducted at 15 sites in the U.S., Canada, Mexico and the Netherlands, indicated that the 120-second endometrial ablation was safe and effective, with 95% of patients reporting normal menstrual bleeding or no menstrual bleeding.
Data also indicated that 92% of patients reported being very satisfied or satisfied with the procedure, and 95% said they would recommend it.
“We are very encouraged by these positive data, as they show that the results of Adaptive Vapor Ablation stand the test of time. These three-year follow-up data should assure physicians and patients that our innovative and natural vapor-based treatment will successfully deliver sustained safe and effective outcomes including improved quality of life,” Sainz said in a prepared statement.
“These results give me great confidence in Aegea’s Adaptive Vapor Ablation procedure. It’s safe and effective, and it delivers the long-term outcomes we are looking for as physicians. I believe Adaptive Vapor Ablation is a valuable new option for treating women with menorrhagia,” Aegea pivotal study principal investigator Dr. Mark Levie of the Albert Einstein College of Medicine said in a press release.
Late last month, Aegea Medical said that it launched a new post-market study exploring the long-term effects of its Adaptive Vapor Ablation technology in endometrial ablation procedures.