Axonics’ patents cover the company’s lead design, patient remote control, external trial system, wireless charging, current control stimulation, electromyography and internal system electronics. The patent numbers are: 10,478,619; 10,406,369; 10,384,067; 10,376,704; 10,447,083; 10,449,277 and 15/719,461; 15/416,888; 15/980,642.
“The volume, subject matter diversity and breadth of important geographies demonstrate the investment in innovation that Axonics continues to make in the miniaturized and rechargeable sacral neuromodulation technology space,” Axonics CEO Raymond Cohen said in a news release.
The company is also involved in a legal battle over its SNM technology. In November, Medtronic (NYSE:MDT) filed a lawsuit against Axonics in the U.S. District Court for the Central District of California, alleging infringements of four patents for Medtronic’s SNM technologies indicated for bowel and bladder conditions.
Irvine, Calif.-based Axonics has begun the U.S. launch of its r-SNM sacral neuromodulation system for treating overactive bladder, urinary retention and fecal incontinence.
The implantable, rechargeable sacral neuromodulation device is the first of its kind approved for sale in the U.S., Europe, Canada and Australia. It is also the only SNM device approved for full-body MRI scans without needing the device explanted, according to a news release.
Last month, Axonics placed a $110 million offering with plans to plans to combine the net proceeds with existing cash, cash equivalents and investments to support the commercial launch of its r-SNM (sacral neuromodulation) system in the U.S., Europe and Canada. It added $16.5 million to that offering last week when underwriters exercised in full their option to buy an additional 750,000 shares of common stock.
Axonics also intends to put some money toward SNM-related research and development and technological enhancement of the r-SNM system, along with working capital and general corporate purposes. Earlier in November, Axonics won FDA premarket approval for its r-SNM for the treatment of overactive bladder and urinary retention, which followed the FDA approval that r-SNM won in September for fecal incontinence.