London-based Amber develops adaptive neuromodulation technology to treat mixed urinary incontinence (MUI). Amber-UI, a fully implantable system, targets the pudendal nerve through a novel, minimally invasive surgical procedure. The company labeled it the first fully implantable adaptive neuromodulation therapy in development for women with MUI.
New Enterprise Associates (NEA) led the financing round as part of a syndicate of new investors. That syndicate included F-Prime Capital, Lightstone Ventures and Intuitive Ventures, the venture arm of Intuitive Surgical. Existing investors Oxford Science Enterprises (OSE) and 8VC also participated.
Amber plans to use the funds raised to support the development of Amber-UI through pilot and pivotal studies. It aims to move toward regulatory approval in the U.S. The company said it already has plans for pilot studies in Europe and a pivotal trial in the U.S. underway. A first-in-human study already delivered promising preliminary results, the company said in a news release.
Early studies already confirmed the safety and feasibility of the procedure and therapy, Amber said, as well as a strong efficacy signal. The company expects results from the fully enrolled study in the second half of 2024.
“Securing this significant financing round from such a blue-chip group of US and UK investors is a huge validation of our therapy value proposition and the quality of the team we have built,” said Aidan Crawley, CEO of Amber Therapeutics. “Amber can now execute the critical next phase of our strategy to take Amber-UI to US regulatory approval and fulfil our mission of making this breakthrough therapy available to the millions of women suffering from mixed urinary incontinence.”
