Vessi Medical announced today that it raised $1.7 million in funding for its cryoablation treatment for superficial bladder cancer.
Agriline, the Trendlines Group, the Israel Innovation Authority and ExitValley investors all participated in the financing round to support the minimally invasive treatment, according to a news release.
Misgav, Israel-based Vessi Medical touts its cryoablation solution, which applies to superficial bladder cancer or non-muscle invasive bladder cancer (NMIBC), as capable of improving quality of life for those suffering from symptoms including urination problems, pain and blood in urine, along with sexual dysfunction, mental health effects and general low quality of life.
The Vessi system includes a standalone console and a disposable device inserted transurethrally into the bladder. The company is planning a first-in-human study for the first quarter of 2021.
“Demonstrating the technology in humans is an important milestone towards making cryo-spray ablation a significant tool for the treatment of superficial bladder cancer,” Vessi Medical CEO Eyal Kochavi said in the release. “We are currently focused on bladder cancer, but the Vessi technology will address other bladder diseases, such as overactive bladder, benefiting patients, physicians and the healthcare system.”