MassDevice

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

  • Latest News
  • Cardiovascular
  • Orthopedics
  • Wall Street Beat
    • Funding Roundup
    • Mergers & Acquisitions
  • Podcasts
    • MPR: Breakthrough Products Series
  • Resources
    • About MassDevice
    • Newsletter Signup
    • Job Board
    • Leadership in Medtech
    • Manufacturer Search
    • Videos
    • Whitepapers
  • DeviceTalks
You are here: Home / Business/Financial News / Gynesonics closes $75m financing round

Gynesonics closes $75m financing round

January 3, 2019 By Fink Densford Leave a Comment

Gynesonics

Gynesonics said today that it closed a $75 million equity financing round to support its Sonata system intended for diagnostic intrauterine imaging and the transcervical treatment of symptomatic uterine fibroids.

The round was led by Bain Capital Life Sciences and joined by all the Redwood City, Calif.-based company’s existing investors, including Abingworth, Advanced Technology Ventures, Endeavour Vision, HealthCrest, InterWest Partners, HBM Partners, Correlation Ventures and Hercules Technology Growth Capital.

“We are confident that Gynesonics is well-positioned to meet the needs of women who suffer from this debilitating disease. The robust and impressive clinical data will enable the Sonata system to make a significant impact in the multi-billion worldwide market for the treatment of uterine fibroids,” Advanced Technology Ventures general partner & Gynesonics board member Mike Carusi said in prepared remarks.

The company’s flagship Sonata System is a uterus preserving, incision-free uterine fibroid treatment designed to treat fibroids transcervically with radiofrequency energy. The system combines both an intrauterine ultrasound system with a proprietary radiofrequency ablation device, Gynesonics added.

As part of the financing round, Gynesonics said that Bain Capital Life Sciences managing director Jeffrey Schwartz will join the company’s board of directors.

“We are impressed by the quality and promise of the Sonata system and the caliber of the Gynesonics team. We believe there is a strong clinical need for an incision-free option for women who are suffering from symptomatic fibroids. I look forward to joining the board and working closely with the team on this important platform technology as well as other advances in the company pipeline,” Schwartz said in a prepared statement.

Proceeds from the round are slated to support the launch and global commercialization of the company’s Sonata System, which has CE Mark clearance in the European Union and FDA 510(k) clearance. Proceeds will also support further development of the Sonata platform and additional clinical research initiatives.

“On behalf of all of the stakeholders in Gynesonics, I welcome Bain Capital as a new investor and Jeff as a new member of our board. Gynesonics has developed a breakthrough treatment option for symptomatic uterine fibroids that is designed to preserve the uterus. We are proud to offer physicians and the women under their care a new treatment choice for this disease. This financing will provide the capital to successfully commercialize the Sonata System and continue the clinical research essential to our market development objectives,” prez & CEO Christopher Owens said in a press release.

Last January, Gynesonics released results from the pivotal FDA investigational device exemption cleared trial for its Sonata system.

Filed Under: Business/Financial News, Featured, Wall Street Beat, Women's Health Tagged With: Gynesonics

In case you missed it

  • Bio-Rad recovering from ransomware attack
  • FDA clears first single-use duodenoscope from Boston Sci
  • FDA approves Tandem Diabetes’ advanced hybrid closed-loop controller
  • Awak Technologies raises $40m
  • Axonics raises additional $17m in public offering
  • Siemens Healthineers lands FDA clearance for two CT systems
  • Aethlon prices $5m offering
  • Sterigenics’ legal troubles mount in Illinois
  • In2Bones launches AlloAid BioNail
  • Caresyntax to acquire Syus; raises $45.6m
  • Nihon Kohden launches new patient monitor
  • Senate confirms Dr. Stephen Hahn to lead FDA
  • Iradimed renews CE mark for MRI-safe patient monitor
  • Flexicare recalls fiber optic laryngoscope blades and handles
  • 3M to sell drug-delivery biz to Altaris Capital Partners for $650m
  • TransEnterix announces reverse split of common stock
  • GI Windows raises $15m Series A

RSS From Medical Design & Outsourcing

  • Siemens Healthineers lands FDA clearance for two CT systems
    Siemens Healthineers this week said it won FDA clearance for its Somatom go.Sim and Somtom go.Open Pro computed tomography systems. The CT systems are designed for radiation therapy planning and are members of the company’s Somatom go. platform of devices. Siemens Healthineers’ platform uses hardware and software components like patient marking lasers and automated quality… […]
  • Protolabs’ healthcare grant spurs 2 feeding tube inventions
    Digital manufacturer Protolabs (NYSE:PRLB) announced today that MedStar Health (Columbia, Md.) and Cleveland Clinic Innovations are joint winners of the company’s Cool Idea Award: Healthcare Grant. These grants provide in-kind manufacturing services to the support development of medical products to spur innovation in the field. MedStar Health’s gravity-feed syringe holder simplifies the feeding of newborns who spend […]
  • Sterigenics’ legal troubles mount in Illinois
    Nearly two dozen new lawsuits were filed against Sterigenics this week over its now-shuttered ethylene oxide (EtO) sterilization plant in Willowbrook, Ill., according to a law firm representing some of the plaintiffs. That brings the total of such lawsuits to nearly 75, noted Chicago personal injury lawyer Antonio Romanucci, court-appointed lead counsel from among five… […]
  • In2Bones launches AlloAid BioNail
    In2Bones this week launched its AlloAid BioNail sterile allograft implant. The implant is designed to give rigid, stable fixation during hand and foot reconstruction. AlloAid BioNail is made from strong cortical allografts to provide osteoconductive properties for bone remodeling and healing. It features a tapered point and multiple, contoured wedge facets to ease insertion, anchor… […]
  • Protolabs’ healthcare grant spurs 2 feeding tube inventions
    Digital manufacturer Protolabs (NYSE:PRLB) announced today that MedStar Health (Columbia, Md.) and Cleveland Clinic Innovations are joint winners of the company’s Cool Idea Award: Healthcare Grant. These grants provide in-kind manufacturing services to the support development of medical products to spur innovation in the field. MedStar Health’s gravity-feed syringe holder simplifies the feeding of newborns… […]
  • Nihon Kohden launches new patient monitor
    Nihon Kohden (TYO:6849) announced the U.S. launch of its Life Scope SVM-7200 series vital signs monitor for outpatient facilities and beds that aren’t continuously monitored. The Life Scope SVM-7200 is designed to provide customizable early warning scoring to help clinicians identify patients who are deteriorating or at risk of deterioration. It combines vital signs data with… […]
  • Senate confirms Dr. Stephen Hahn to lead FDA
    The U.S. Senate has confirmed Dr. Stephen Hahn as the next commissioner of the FDA. The vote was 72 to 18, according to a report in the New York Times. Hahn will be the first permanent commissioner of the agency since Dr. Scott Gottlieb resigned in April. President Trump nominated Hahn, the chief medical officer at Houston’s… […]
  • 3M to sell drug-delivery biz to Altaris Capital Partners for $650m
    3M (NYSE:MMM) announced today that it entered into an agreement to sell most of its drug-delivery business to an affiliate of Altaris Capital Partners for approximately $650 million. St. Paul, Minn.-based 3M will retain its transdermal drug delivery components business, according to a news release. The business being divested has annual global sales reaching approximately… […]
  • Lawsuit endangers Sterigenics consent order in Georgia
    A consent order that Sterigenics entered into with the state of Georgia to reduce ethylene oxide (EtO) emissions at its Atlanta medtech sterilization plant may be in jeopardy. A hearing is scheduled today on a lawsuit that accuses the Georgia Environmental Protection Division (EPD) of failing to take public comment before entering the Aug. 7… […]
  • Trelleborg acquires Tritec Seal
    Trelleborg Sealing Solutions said today it has closed on its acquisition of rotary seal manufacturer Tritec Seal, which produces engineered polytetrafluoroethylene (PTFE) sealing solutions. Trelleborg said the acquisition strengthens its product portfolio while giving the business area access to increased manufacturing capacity. Headquartered in Fenton, Mich., with additional manufacturing in Giddings, Texas, Tritec Seal generated… […]
  • RSNA 2019: 7 radiology innovations you need to know
    Nearly 53,000 people attended the 2019 Radiological Society of North America annual meeting in Chicago last week. And they heard the same acronym over and over again: AI. Exhibitors at the conference touted their artificial-intelligence-enhanced technology at every turn, claiming to make images clearer, sharper, easier to use and powerful enough to help clinicians make… […]

Leave a Reply Cancel reply

You must be logged in to post a comment.

Need Medtech news in a minute?
We Deliver!

MassDevice Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Popular Posts

  • Report: SEC probes GE Healthcare, Philips, Siemens in Chinese bribery scheme
  • Edwards Lifesciences warns against below-market mini-tender offer Edwards Lifesciences
  • J&J’s Ethicon files ITC complaint against Intuitive Surgical Intuitive Surgical's EndoWrist instruments
  • Auris Health loses motion to move Intuitive Surgical patent suit from Del. to Cali. Johnson & Johnson's Auris, Intuitive Surgical
  • Enable Injections inks deal with Sanofi for drug delivery platform enfuse-enable-injections
Tweets by @MassDevice
MDO ad

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion

MASSDEVICE

Subscribe to MassDevice
Advertise with us
About
Contact us
Add us on FacebookMassDevice Network
Follow us on Twitter@MassDevice
Connect with us on LinkedInLinkedIn
Follow us on YouTube YouTube

Copyright © 2019 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS