Business Wire

Axonics Announces $20.5 Million Second Closing of its Series C Financing

Del

Axonics Modulation Technologies, Inc., developer of the first rechargeable Sacral Neuromodulation (r-SNM™) system for the treatment of urinary and bowel dysfunction, announced today that it has completed a $20.5 million second closing of its Series C financing, bringing the total amount of capital raised for its Series C to $35 million.

The second closing of the Series C round included two new investors, Gilde Healthcare, which has offices in Boston and Utrecht, Netherlands, and CICA, Inc. based in La Jolla, California. Existing investor, Boston-based Cormorant Asset Management also participated in both closings as did a select group of private individuals.

Geoff Pardo, Partner at Gilde Healthcare, joined the Axonics board of directors. Pardo has significant experience in the medical device industry as an operator and venture investor.

Pardo commented, “Gilde believes that the SNM market will grow to over $1 billion in revenue in the next few years and with only one player in the market today, we are confident that Axonics, given the quality of its management team and its miniaturized implantable rechargeable system, is poised to take a measurable portion of that market following FDA approval.”

Proceeds from the financing will be used to conduct a pivotal clinical study in Overactive Bladder patients to gain U.S. FDA approval and prepare Axonics to access markets around the world. The U.S. pivotal study is anticipated to begin in late 2017 in select medical centers in North America and Europe. During 2016, the Axonics r-SNM system gained regulatory approval in Europe and Canada.

“On behalf of all the stakeholders in Axonics, we extend a warm welcome to our new world-class investors and Mr. Pardo as a new board member. The fact that this financing was oversubscribed is testament to the quality of work that the Company has done to create an innovative and highly competitive sacral neuromodulation system,” said Raymond W. Cohen, Chief Executive Officer of Axonics.

About Axonics Modulation Technologies, Inc.

Axonics, based in Irvine, CA, is a privately-held venture backed company that has developed a novel implantable neuromodulation technology for patients with urinary and bowel dysfunction and can be further directed towards several clinical indications. The Axonics r-SNM system includes a miniaturized rechargeable implantable stimulator qualified to function at least 15 years, a charging system optimized for reduced charge time with no heating, a patient-friendly remote control and an intuitive clinician programmer that facilitates the lead placement procedure and programming. For more information, visit the Company’s website at www.axonicsmodulation.com.

Contact information

Company Contact:
Axonics Modulation Technologies, Inc.
Dan Dearen, 949-396-6322
Chief Operating & Financial Officer
ddearen@axonicsmodulation.com
or
Investor Contact:
Pure Communications, Inc.
Matt Clawson, 949-370-8500
mclawson@purecommunications.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

Gemalto Announces Collaboration with Qualcomm Technologies to Integrate eSIM Innovation into the Snapdragon Mobile PC Platform28.5.2018 05:00Pressemelding

Gemalto announces a new collaboration that will see its advanced mobile connectivity solutions integrated with Qualcomm® Snapdragon™ mobile PC platform, a product by Qualcomm Technologies Inc., a subsidiary of Qualcomm Incorporated. This paves the way for iSIM commercialization on a growing range of Always Connected PCs, laptops and tablets. The effort will support the integration of Gemalto’s eSIM technology and remote subscription management solutions, with the new Secure Processing Unit (SPU) on the Snapdragon mobile PC platform. As a result, this innovation will provide seamless LTE and forthcoming 5G connection, extended battery life, and a foundation for consumer applications such as online payments, transport ticketing and authentication to cloud services. This initiative represents the first time an eSIM will be integrated with processing platforms designed to power Always Connected PCs and similar consumer devices. Providing benefits for industry players: OEMs optimize their b

CES Asia 2018 Announces Innovation Award Honorees27.5.2018 20:00Pressemelding

The Consumer Technology Association (CTA) today announced its Innovation Awards Honorees for CES Asia 2018. Now in its second year, the CES Asia Innovation Awards Program celebrates outstanding product design and engineering in brand-new consumer technology products from CES Asia exhibitors. The program recognizes groundbreaking technologies across 20 product categories, including first-time category artificial intelligence (AI) located primarily in SNIEC, Hall N3 at CES Asia 2018. Additional areas of recognition include augmented reality (AR), virtual reality (VR), content, mobile, vehicle tech, smart home, digital health, wearables and more. CES Asia is a global show with exhibiting companies originating from 23 countries, regions and territories. An elite panel of judges with industry expertise in product design and engineering deliberated on the honorees for this prestigious awards program. The honored products excelled in five criteria: engineering, aesthetics, function and user v

FCF: Greenpeace Allegations Unfair and Deceptive26.5.2018 18:02Pressemelding

FCF Fishery, Co. President Max Chou today released the following statement regarding recent misleading Greenpeace human rights abuse allegations made against the company: “We realize that as one of the world’s largest marine products integrated supply chain service providers with more than 30 subsidiaries, fishing bases, and shipping agents around the world, we are a prime target for organizations seeking to garner publicity and those not fully aware of the latest development and improvements that are currently taking place in the fishery industry. However, in their efforts to curb egregious human rights abuses, we believe it is unfair and deceptive to lump our company in with those who condone cruelty and neglect of their laborers. “Although we recognize the meaningful work of Greenpeace in exposing and eliminating human trafficking and sustainability abuses, we are equally disappointed that they are implicating FCF in old incidents and cases that have since been in all instances addr

NBC Universal, Havas Group and Endemol Shine Discuss a Future with AI, Blockchain and VR at IBC201825.5.2018 18:20Pressemelding

As is fitting for the home of technical invention and innovation, IBC2018 will present a broad range of ambitious and timely elements to engage, inform and inspire content creators and owners from around the world that will visit the RAI, Amsterdam from 13-18 September 2018. The must-attend event includes fresh inspiring conference themes that will focus on innovative new platforms, audience engagement and interaction/immersion, as well as a wide-ranging exhibition that will encompass all the latest technologies from AI and VR to advanced cloud-based workflows. Registration for IBC2018 is now open at: https://ibc.itnint.com/IBC18/Online/RegLogin.aspx “The media landscape is evolving at an unprecedented rate, with new platforms, technologies and even new realities at our disposal that offer greater opportunities for content innovation and audience engagement,” said Michael Crimp, CEO, IBC. “IBC is preparing an outstanding programme of conference sessions, forums and exhibition features

Pavilion of France at the 16th International Architecture Exhibition – La Biennale di Venezia25.5.2018 09:26Pressemelding

The concept for Infinite Places , developed by the Encore Heureux team, led by the architects Nicola Delon, Julien Choppin, and Sébastien Eymard, presents places produced by new and inventive processes that generate architectural processes of value. This exhibition project, which considers the territory as a whole, highlights initiatives on the part of civil society and communities that embody a certain free spirit of experimentation and the possibilities opened up by architecture. These projects are expressions of programmatic freedom and generosity, and they live up to the theme of Freespace adopted by the two commissioners of the 16th International Architecture Exhibition – La Biennale di Venezia, the Irish architects Yvonne Farrell and Shelly McNamara. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180525005191/en/ French Pavilion Venice Architectural Biennale, copyright S. Scher Statement of the curators « Through the I

SIA Acquires Card Processing Businesses in Central and Southeastern Europe from First Data25.5.2018 08:30Pressemelding

SIA, a European high-tech leader in payment infrastructure and services, and First Data Corporation (NYSE: FDC), a global leader in commerce-enabling technology, have signed an agreement for SIA to acquire First Data’s card processing businesses in parts of Central and Southeastern Europe for €375 million. In 2017, these businesses generated a combined revenue of approximately €100 million for First Data. This acquisition by SIA provides card processing, card production, call center and back-office services, including 13.3 million payment cards, 1.4 billion transactions, in addition to the management of POS terminals and ATMs. These businesses are primarily located in 7 countries: Greece, Croatia, Czech Republic, Hungary, Romania, Serbia and Slovakia. As a result of the transaction, SIA will become a leading player in processing and services in the region. The agreement includes the transfer of about 1,400 First Data employees into SIA. “This acquisition is in line with our strategy to