New investors ShangBay Capital and Asahi Kasei led the round. Other new investors included Angelini Ventures, JobsOhio Growth Capital Fund and more. Existing investors Arboretum Ventures, Tonkawa, Medtronic and Avestria Ventures participated, too.
Columbus, Ohio–based Avation plans to use funds to support the U.S. launch of its Vivally system.
Vivally, a non-invasive, FDA-cleared wearable neuromodulation system delivers closed-loop, autonomously adjusted electrical stimulation to treat patients with urge urinary incontinence (UUI) and urinary urgency caused by overactive bladder (OAB) syndrome. The system uses proprietary algorithms and electromyographic sensors.
Avation designed Vivally to detect and calibrate the level of energy delivered to the tibial nerve during stimulation. This ensures optimal, customized therapeutic output in a real-time, closed-loop operation. Worn on the ankle, Vivally only requires 30-minute therapy sessions as infrequently as once per week.
Notably, Vivally requires no surgery and no drugs, unlike other implantable neuromodulation approaches for bladder treatment. It offers use earlier in the care pathway and demonstrated the ability to reduce daily void, incontinence and urgency episodes. The system also demonstrated improved patient quality of life.
Avation plans to launch the system — available with a prescription — in key markets this spring.
“This new capital will jump-start the highly anticipated launch of Vivally, which sets a new standard for OAB care,” said Jill Schiaparelli, Avation co-founder and CEO. “We are thrilled to welcome new investors and grateful for the unwavering support of existing investors who share our belief that non-invasive wearable neuromodulation therapy will significantly benefit patients and clinicians. We could not ask for a stronger group of institutional investors as we accelerate our efforts to bring this innovative technology to market.”
