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Axonics raises $14.5mm Series C round; later adds $20.5mm tranche for $35mm round total

Executive Summary

In the first tranche of what it expects to be a $30mm Series C financing round, Axonics Modulation Technologies Inc. (implantable neuromodulation devices) brought in $14.5mm from returning investors Edmond de Rothschild Investment Partners, Advent Life Sciences, Cormorant Asset Management, Legend Capital, NeoMed Management, and private individuals. The company will use the proceeds to conduct a pivotal clinical study in overactive bladder (anticipated to begin in 2H 2017) for its Sacral Neuromodulation (SNM) system to gain FDA approval as well as access to additional global markets. The rechargeable SNM system is CE marked (June 2016) for OAB, urinary retention, and fecal incontinence, and received approval in Canada for those indications in January 2017. Axonics has brought in $85.6mm in funding since its 2012 inception.
Deal Industry
  • Medical Devices
    • Implantable Devices
    • Surgical Equipment & Devices
      • Minimally or Less Invasive
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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