Aegea Medical said today raised a total of $40 million in financing to support the development of its Adaptive Vapor Ablation technology designed for endometrial ablation.
The Redwood City, Calif.-based company said the financing included $30 million from Perceptive Advisors and an additional $10 million from existing equity investors including Medtronic (NYSE:MDT), Alloy Ventures, Delphi Ventures, BioMed Ventures and Solas BioVentures.
“We are excited to be partnering with Aegea Medical in helping to launch this game-changing technology in the women’s health space. We believe Aegea’s Adaptive Vapor technology has great potential for addressing and expanding the market for endometrial ablation, and we look forward to working with Aegea to achieve these objectives,” Perceptive portfolio manager Sam Chawla said in a press release.
The Adaptive Vapor Ablation system is an FDA-approved endometrial ablation system designed to treat menorrhagia in an in-office setting with only mild anesthesia and analgesia, Aegea said.
Financing from the round will help prepare to launch the device commercially in the US, the company said.
“Aegea is at an important inflection point as we prepare to transform the experience for the millions of women suffering from abnormal uterine bleeding, and the physicians that serve them. We are delighted to partner with Perceptive Advisors as we prepare to launch this novel and disruptive technology,” prez & CEO Don Gurskis said in a prepared statement.
