Gynesonics, a Menlo Park company focused on making medical devices for women’s health, has raised $16.5 million in a second round of financing.
The company is developing a device to treat uterine fibroid tumors. The company’s statement is here.
The financing was led by Advanced Technology Ventures, and included InterWest Partners and Abingworth Management. The company said Tom Rodgers of Advanced Technology Ventures and Linda Grais, MD of InterWest Partners have joined its board of directors.
From the statement:
Tom Rodgers of Advanced Technology Ventures commented, “Uterine fibroids affect millions of women and unfortunately there are no effective and practical treatment options that spare the uterus. We believe the VizAblateâ„¢ system is an extremely promising and exciting approach that has the potential to put a simple, minimally invasive treatment in the hands of gynecologists to be performed in an office-based setting.” Linda Grais, MD of InterWest Partners added, “The Gynesonics team has been moving at an incredible pace since the company was founded just two years ago. In their first year, they have completed safety and feasibility studies in more than fifty patients. The speed of their development is impressive by anyone’s standard.”