NEWARK, Calif., May 15 /PRNewswire/ -- Novasys Medical, Inc., a developer of innovative therapies in women's health, announced today that it has secured $49.5 million in Series D preferred stock financing. The round was led by Versant Ventures, with ThreeArch Partners and Skyline Ventures also participating as new investors. The round also included participation by existing investors Affinity Capital Management, Alloy Ventures, Delphi Ventures, GBS Venture Partners, INVESCO Private Capital, JP Morgan Partners (managed by Panorama Capital), and ONSET Ventures.
"We are very pleased that Versant, ThreeArch and Skyline, three of the best known and respected venture capital firms in the Silicon Valley, have joined our top-tier group of existing investors," said Debra Reisenthel, President and CEO of Novasys Medical. "This financing will enable the Company to further its efforts to bring the innovative Renessa(R) non-surgical treatment to women suffering from stress urinary incontinence (SUI). The funds will allow us to continue our clinical studies as well as secure reimbursement for the Renessa procedure."
Beckie Robertson, Managing Director with Versant Ventures and new member of Novasys' Board of Directors, remarked, "Novasys Medical's Renessa System represents one of the most exciting technologies in women's health in recent years. Women with SUI are looking for alternatives to surgery and conservative therapies such as Kegel exercises. The limited availability of effective non-surgical options has resulted in a huge unmet need and Renessa is uniquely positioned to address that need." Rich Lin has joined the Board of Directors for ThreeArch Partners and Steve Sullivan has joined the Board representing Skyline Ventures.
Female Stress Urinary Incontinence
SUI is the involuntary leakage of urine associated with laughing,
coughing, sneezing and recreational activities. The condition is caused by
a variety of factors, most commonly child
|SOURCE Novasys Medical, Inc.|
Copyright©2008 PR Newswire.
All rights reserved