MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

Home » Boston Scientific joins OAB device dev Amphora Medical’s $36m Series B

Boston Scientific joins OAB device dev Amphora Medical’s $36m Series B

By

Amphora Medical

Amphora Medical said today it closed a $35.5 million Series B financing round, led by major medtech player Boston Scientific (NYSE:BSX), with funds slated to support a US pivotal trial of its Selective Bladder Denervation System for treating women with overactive bladder.

Amphora’s Selective Bladder Denervation System is a minimally-invasive, cystopic device which uses targeted ablation to reduce nerve signals responsible for OAB symptoms at their source without harming nerves responsible for normal bladder function, the Minneapolis, Minn.-based company said.

“The closing of this round is an important milestone for Amphora as we work to advance our minimally-invasive Selective Bladder Denervation System as a treatment for OAB. Upon the completion of two ongoing feasibility studies, we expect to initiate the pivotal, randomized, sham-controlled, selective bladder denervation clinical trial in women who are refractory to medical therapy in 2018,” Amphora CEO Tom Ressemann said in a press release.

The round was also led by Longitude Capital, and joined by HBM Healthcare Investments and existing venture investors F-Prime Capital Partners and Baird Capital, Amphora Medical said.

“As an initial investor in Amphora Medical, we are pleased to welcome Longitude Capital, Boston Scientific Corporation, and HBM Healthcare Investments,” F-Prime Capital Partners’ Ketan Patel said in a prepared release.

As part of the funding round, Longitude Capital’s Marc Galletti and HBM Healthcare Investments Thomas Thaler will join the company’s board of directors. The company said it also tapped Gynesonics CEO Chris Owens as an independent director.

“Today, many OAB patients have few options for managing their symptoms, which can be debilitating. Amphora’s Selective Bladder Denervation system has demonstrated the potential to restore normal bladder function and provide lasting symptom improvement in ongoing feasibility studies, and we believe this proprietary technology has the potential to be a fundamental advancement in the treatment of OAB,” Longitude Capital managing director Galletti said in a prepared statement.

In case you missed it

RSS From Medical Design & Outsourcing

  • Edwards Lifesciences misses on Q4 earnings as omicron hammers hospitals
    Edwards Lifesciences (NYSE:EW) posted fourth-quarter earnings at the end of trading today that fell short of the consensus forecast on Wall Street, but reaffirmed its outlook for 2022. The Irvine, California-based heart device company reported profits of $335.3 million — or $0.53 per diluted share — on sales of $1.33 billion for the three months… […]
  • Philips launches at-home, 12-lead ECG for clinical trials
    Royal Philips (NYSE: PHG, AEX: PHIA) announced today that it is expanding its remote cardiac monitoring portfolio with a patch-based, clinical-grade ECG. The new at-home electrocardiogram monitors could reduce the need for site visits during clinical trials, according to the Dutch medtech giant. At-home ECG is a hot space: iRhythm Technologies CEO Quentin Blackford recently… […]
  • TE Connectivity beats the Street in Q1
    TE Connectivity (NYSE:TEL) posted first-quarter results today that beat the consensus forecast on Wall Street. The Schaffhausen, Switzerland–based company provides connectivity and sensor solutions for a broad range of industries, including medtech. The company reported profits of $566 million — or $1.72 per share — on sales of $3.8 billion for the fiscal quarter ended… […]
  • Element Materials Technology acquired by Temasek
    Element Materials Technology this week announced that it was acquired by Bridgepoint’s Temasek for an undisclosed amount. Singapore-based Temasek has been a majority shareholder in Element since 2019. Element expects to accelerate its growth and build stronger positions in end-markets like life sciences and connected technologies, according to the company. “The acquisition of Element by… […]
  • FDA approves Medtronic’s spinal cord stimulation for chronic pain from diabetic neuropathy
    Medtronic (NYSE:MDT) announced today the FDA approved its Intellis and Vanta neurostimulator for treating chronic pain. The approval covers the Intellis rechargeable neurostimulator and the Vanta recharge-free neurostimulator for the treatment of chronic pain associated with diabetic peripheral neuropathy. Get the full story at our sister site, MassDevice. The post FDA approves Medtronic’s spinal cord stimulation […]
  • ‘Itty bitty’ falloposcope imaging device used inside fallopian tubes for the first time
    After years of development, University of Arizona researchers have captured their first images inside fallopian tubes with a new device that could be used to search for early signs of ovarian cancer. University of Arizona BIO5 Institute Director Jennifer Barton developed the high-resolution falloposcope, which has a diameter of only 0.8 mm. “It’s itty bitty,”… […]
  • Hantel appoints VP of business development
    Hantel recently announced that it appointed Ron Balogh as VP of business development. The Hayward, California-based medtech design and contract manufacturing company appointed Balogh on Jan. 3. He will be responsible for serving the company’s current clients and growing the company by improving communications and its presence within the industry. Get the full story on… […]
  • iRhythm plans silent AFib screening pilots, high-level hires and Zio Watch evaluations
    iRhythm Technologies (NSDQ:IRTC) has big plans for 2022 and its remote external electrocardiogram monitors as the medical device developer gears up for growth. President and CEO Quentin Blackford is looking to hire an international general manager among other roles in the coming months, he told Medical Design & Outsourcing after presenting at this month’s 2022… […]
  • Innophase announces next-gen low-power WiFi modules
    Innophase (San Diego) recently announced its next-generation Talaria Two INP1014 and INP1015 WiFi plus BLE5 modules. The new modules are 40% smaller than the previous INP1010 and INP1011 platforms. INP1014 and INP1015 can enable edge-of-network IoT devices, including medical wearables, that require low power consumption and a direct-to-cloud connection, according to the company. The platforms… […]
  • Plastics and medical devices: Changes for safety and cost
    The move toward polypropylene and polyethylene in medical devices requires new manufacturing and assembly solutions such as ultrasonic and laser welding. Didier Perret, Emerson Plastics are ubiquitous in medical applications thanks to their light weight, durability and flexibility, among other attributes. However, concern has been increasing in recent years about the possible negative effects of… […]
  • Medtronic’s recall of HawkOne system is Class I
    The FDA today issued a notice confirming that the recall of Medtronic’s (NYSE:MDT) HawkOne system is Class I, the most serious kind. So far in 2022, the FDA has classified three Medtronic-related recalls as Class I, with the Covidien (part of Medtronic) Puritan Bennett 980 series ventilator and the Synergy Cranial and StealthStation S7 Cranial software receiving the same classification earlier… […]