{"id":643228,"date":"2013-02-20T14:53:26","date_gmt":"2013-02-20T19:53:26","guid":{"rendered":"http:\/\/www.pehub.com\/?p=187448"},"modified":"2013-02-20T14:53:26","modified_gmt":"2013-02-20T19:53:26","slug":"gynesonics-closes-21-mln-financing-round","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/643228","title":{"rendered":"Gynesonics Closes $21 Mln Financing Round"},"content":{"rendered":"

HBM Partners<\/strong> led a $21 million Series D financing round for Gynesonics<\/strong>. Correlation Ventures<\/strong>, a new investor, took part in the financing as well as existing investors Abingworth<\/strong>, Advanced Technology Ventures<\/strong> (ATV) and InterWest Partners<\/strong>. Redwood City, Calif.-based Gynesonics is a women\u2019s healthcare company that develops minimally invasive solutions for symptomatic uterine fibroids.<\/p>\n

PRESS RELEASE<\/p>\n

Gynesonics, Inc., a women\u2019s healthcare company focused on minimally invasive solutions for symptomatic uterine fibroids, announced today a Series D financing led by HBM Partners based in Switzerland. The $21 million financing included additional new investor Correlation Ventures and existing investors Abingworth, Advanced Technology Ventures (ATV) and InterWest Partners. Gynesonics will use the proceeds to continue clinical and commercial development of the VizAblate\u00ae System, a transcervical, ultrasound-guided ablation system for the treatment of uterine fibroids. VizAblate\u00ae has the CE Mark in the European Union and is currently limited to investigational use in the United States.<\/p>\n

\u201cGynesonics has developed an important product, serving a major unmet need in women\u2019s health,\u201d said Darrin Uecker, the company\u2019s President and CEO. \u201cWe are pleased to bring in HBM Partners, another high-quality international investor with relevant industry expertise and a strong worldwide network to help us deliver on this exciting technology.\u201d<\/p>\n

\u201cWe are delighted about the Gynesonics investment,\u201d said Dr. Chandra P. Leo, Partner at HBM. \u201cWomen\u2019s health is an important strategic field for a number of large healthcare companies and symptomatic uterine fibroids represent a large opportunity in this space. Based on its incision-less approach and promising clinical data, we believe that the VizAblate\u00ae System will significantly improve gynecologists\u2019 treatment options for this common condition.\u201d Dr. Leo has joined the Gynesonics Board of Directors.<\/p>\n

Gynesonics is also pleased to announce the addition of two U.S. patents, 8,088,072 and 8,262,577, to the company\u2019s substantial and growing patent portfolio. Gynesonics has invested significantly in the development of graphical overlays to show the projected treatment region and safety boundary within the VizAblate\u00ae System user interface, and these patents relate specifically to the use of these overlays for image guided fibroid treatment.<\/p>\n

\u201cGraphical overlays are very important to the VizAblate\u00ae System\u2019s ease of use and learning curve. They enable a very intuitive approach and will be an important feature of any image guided treatment solution,\u201d said Dr. Marlies Bongers, Ob\/Gyn at Maxima Medisch Centrum in The Netherlands and a clinical investigator in the Gynesonics FAST-EU clinical study.<\/p>\n

As many as 3 out of 4 women will have fibroids during their reproductive life. The symptoms that fibroids may cause include heavy menstrual bleeding, pelvic pain and pressure, and urinary dysfunction. Today, the most frequent surgical treatment for symptomatic uterine fibroids is a hysterectomy, with approximately 250,000 hysterectomies being performed in the United States each year.<\/p>\n

About Gynesonics<\/p>\n

Gynesonics is a women\u2019s healthcare company focused on minimally invasive solutions for symptomatic uterine fibroids. Gynesonics has developed the VizAblate\u00ae System, a transcervical, ultrasound-guided ablation system for the treatment of uterine fibroids. VizAblate\u00ae has the CE Mark in the European Union and is currently limited to investigational use in the United States. Gynesonics is a privately held company with headquarters in Redwood City, California.<\/p>\n

About HBM Partners<\/p>\n

HBM Partners is a globally active, healthcare-focused investment management group headquartered in Switzerland. The funds advised by HBM invest in private and public companies across North America, Europe, India and China. Since 2001, HBM has generated more than 40 trade sales and IPOs of pharma\/biotech, medtech and diagnostics companies.<\/p>\n

More information can be found at: www.hbmpartners.com<\/p>\n

About Abingworth<\/p>\n

Abingworth is an international investment group dedicated exclusively to the life sciences and healthcare sector. The company invests at all stages of development including early and late-stage venture financing, growth equity and public companies. Founded in 1973, Abingworth has a lengthy track record of backing market leading companies. Abingworth has a specialist team of 19 professionals with a broad range of skill sets and access to an extensive network of industry contacts. Abingworth has funds under management of over $1.25 billion and offices in London, Menlo Park (California) and Boston.<\/p>\n

More information can be found at: www.abingworth.com<\/p>\n

About InterWest<\/p>\n

For more than 30 years, InterWest has partnered with exceptional entrepreneurs to build winning technology and life sciences companies. With more than 200 years of combined operating and investing experience, the firm\u2019s investing team has raised $2.8B, completed more than 70 IPOs, and participated in nearly 60 upside acquisitions. As the firm invests InterWest X, a $650M fund, the InterWest team continues to believe that providing capital is just the beginning of a long-term collaboration with entrepreneurs to turn their vision into a thriving company.<\/p>\n

More information can be found at: www.interwest.com<\/p>\n

About Correlation Ventures<\/p>\n

Correlation Ventures, a $165 million venture capital fund, leverages world-class analytics to offer entrepreneurs and other venture capitalists a dramatically better option when they are seeking additional co-investment capital to complete a financing round. The firm makes investment decisions in two weeks or less and offers reliability and transparency about reserves and its intentions to follow in future financings. Correlation Ventures invests across all industry segments, U.S. geographies and investment stages \u2013 from seed through late stage. Current portfolio companies include AirXpanders, Aldea Pharmaceuticals, Bunchball, edo interactive, Framehawk, Getaround, MOGL, RQx Pharmaceuticals, SAY Media, Telly, and Virsto Software. Correlation Ventures has offices in Palo Alto and San Diego, CA.<\/p>\n

More information can be found at: www.correlationvc.com and @correlationvc<\/p>\n

About Advanced Technology Ventures<\/p>\n

Advanced Technology Ventures (ATV) is a bi-coastal venture capital firm with more than $1.8 billion in capital under management. The firm works with entrepreneurial teams in several technology markets, including IT, healthcare and cleantech, to transform emerging growth companies into market leaders. Founded in 1979, ATV has an established track record of success helping to build strong, sustainable companies.<\/p>\n

More information can be found at: www.atvcapital.com<\/p>\n

The post Gynesonics Closes $21 Mln Financing Round<\/a> appeared first on peHUB<\/a>.<\/p>\n

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HBM Partners led a $21 million Series D financing round for Gynesonics. Correlation Ventures, a new investor, took part in the financing as well as existing investors Abingworth, Advanced Technology Ventures (ATV) and InterWest Partners. Redwood City, Calif.-based Gynesonics is a women\u2019s healthcare company that develops minimally invasive solutions for symptomatic uterine fibroids. PRESS RELEASE […]<\/p>\n","protected":false},"author":7426,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-643228","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/643228","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7426"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=643228"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/643228\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=643228"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=643228"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=643228"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}