Grenoble-based developer and producer of the digital synthetic urinary sphincter (eAUS), UroMems has raised a further €7 million within the second spherical of its Series B financing which was accomplished in May 2020.
The extra funding was supplied by current buyers together with Hil-Invent GmbH, Financière Arbevel, Wellington Partners, Bpifrance, by way of its FABS fund, Supernova Invest and btov Partners, bringing the entire raised to €23 million.
The proceeds from this financing spherical will fund the ultimate improvement, manufacturing and first medical trials of UroMems’ eAUS system.
WHY IT MATTERS
UroMems goals to enhance the standard of life of individuals worldwide affected by untreated persistent circumstances reminiscent of urinary incontinence by offering an answer that mixes applied sciences in good, digital robotic methods.
The eAUS is an implantable medical system, which compensates for sphincter insufficiency in sufferers with Stress Urinary Incontinence (SUI).
Designed by urologists and collaborating scientists and engineers, the UroMems eAUS will intention to supply a personalised customary of care by combining security, efficacy, sturdiness and ergonomics becoming a person’s way of life and anatomy.
By offering a medical resolution, UroMems goals to alter the notion that these problems are inevitable and easily circumstances to endure as individuals get older.
THE LARGER CONTEXT
In the previous, femtech players have called out Facebook for rejecting women’s health ads associated to incontinence and different circumstances associated to getting older and giving start.
ON THE RECORD
Hamid Lamraoui, CEO and co-founder of UroMems, stated: “Our improvement technique stays on-track with the following main part being the initiation of the first-in-human research of our eAUS system, some of the subtle units in improvement for the therapy of SUI.
“This additional capital positions us to continue advancing toward our goal of bringing our novel technology to this very large, underserved patient population. In addition to our ongoing preclinical work, we are executing market access initiatives, which confirm that the commercial opportunity for the eAUS is significant. We are grateful to our investor syndicate for their continued confidence and support of our mission.”