• Skip to primary navigation
  • Skip to content
  • Skip to footer
Gynesonics

Gynesonics

Advancing technology. Improving women's lives.

  • Our Company
    • About Us
    • Careers
    • Compliance
  • Our People
    • Management
    • Board of Directors
    • Investors
  • Our Technology
    • The Sonata System
    • Indications and Safety
    • Instructions for Use
    • Request for Medical or Scientific Information
  • Our News
    • Press Releases
    • Publications
  • Contact Us

Gynesonics Completes $46 Million Equity Financing

November 17, 2015 by admin

Novit Ventures LP Participates in Latest Round

Redwood City, CA – November 17, 2015 – Gynesonics, a women’s healthcare company focused on the development of minimally invasive solutions for symptomatic uterine fibroids, today announced $2.9 million of additional equity financing, increasing the aggregate amount raised to $46 million, completing this round of financing.

Rockville, MD-based Novit Ventures LP, the investment arm of USP Group, one of the most successful privately-held healthcare companies active in both the European Union and North America, was the primary investor in this new addition to the equity financing. Other investors previously announced include lead investors, Endeavour Vision and Abingworth, as well as, HealthCrest, InterWest Partners, Advanced Technology Ventures (ATV), HBM Partners, Correlation Ventures and Hercules Technology Growth Capital.

The proceeds from the equity financing will continue to fund Gynesonics’ strategic initiatives and clinical plan in the U.S and globally, including the FDA pivotal trial of the latest generation of the Company’s Sonata™ System, an innovative, uterus-preserving, incision-free approach to the treatment of a wide range of symptomatic uterine fibroid types. “Our financial partners have great confidence in the potential of the Sonata Technology platform to make a significant improvement in the lives of millions of women around the world who suffer from symptomatic uterine fibroids,” said Christopher M. Owens, President and CEO of Gynesonics. “This total financing significantly increases the depth of our financial backing, enabling us to move forward aggressively in executing our clinical research initiatives, R&D priorities and initial European targeted commercialization.”

According to medical literature, about 70-80 percent of women in the U.S. will develop uterine fibroids by age 50 with a significant proportion of the fibroids causing symptoms. In addition, according to the New England Journal of Medicine, approximately 200,000 hysterectomies are performed in the United States each year because of symptomatic fibroids. About Sonata System The Sonata™ System, the next generation of Gynesonics’ technology platform (the previous generation referred to as VizAblate), uses radiofrequency energy to ablate fibroids under intrauterine sonography guidance.

The Sonata™ System, including the SMART Targeting Guide, enables the operator to target fibroids and optimize ablations within them. Sonata™ System’s design provides a straightforward, transcervical access for a uterus preserving, incision-free fibroid treatment. This intrauterine approach is designed to avoid the peritoneal cavity. In October 2014, Gynesonics announced FDA approval of the SONATA IDE pivotal trial for their latest generation Sonata™ System. 2

About Gynesonics

Gynesonics is a women’s healthcare company focused on minimally invasive solutions for symptomatic uterine fibroids. Gynesonics has developed the Sonata™ System for the transcervical treatment of symptomatic uterine fibroids under intrauterine sonography guidance. The Sonata™ System is CE Marked and approved for sale in the European Union. Sonata™ System is not available for sale in the United States. Gynesonics is a privately held company with headquarters in Redwood City, CA.

CONTACT: Chris Owens Gynesonics President and CEO +1.650.216.3860 www.gynesonics.com

Filed Under: Press Releases

Footer

  • Privacy Policy
  • Terms of Use
  • Patents
  • Safety Information

© Copyright 2022 Gynesonics · All Rights Reserved · WS 05198 Rev. J

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Gynesonics
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.