Channel raised $9.7 million in support of its cryogen-based Global Endometrial Ablation technology, an alternative to more invasive surgical options for treatment of excessive menstrual bleeding.
Channel hopes to differentiate itself from existing GEA technologies by delivering ablation via a single-use, hand-held device, according to a press release.
Details on investment levels were not made available, but Boston Scientific was joined in the funding round by InCube Ventures, Aperture Ventures, Scientific Health Development II and STCM Ventures. Channel plans to use the funds to continue development as well as make progress on its clinical regulatory efforts.
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