Gynesonics, a medical device manufacturer based in Redwood, California, announced that it landed $21 million in its latest Series D funding round. According to a press release by the company, funds from the round will be used to support development and commercialization of Gynesonics’ VizAblate. The VizAblate is a uterine ablation system that uses ultrasound for guidance.
In its press release, the company stated that its VizAblate is a minimally-invasive surgical device for the treatment of uterine fibroids and an effective alternative to traditional hysterectomies. Participants in the latest funding round include Correlation Ventures, Abingworth, InterWest Partners and Advanced Technology Ventures. The Series D funding round was led by HBM Partners of Switzerland. HBM shared comments on the latest funding round.
Dr. Chandra Leo is a partner at HBM. In prepared remarks, she said, "Women's health is an important strategic field for a number of large healthcare companies and symptomatic uterine fibroids represent a large opportunity in this space." She continued, "Based on its incision-less approach and promising clinical data, we believe that the VizAblate System will significantly improve gynecologists' treatment options for this common condition."
Ablation is a significant shift compared to traditional treatment techniques for uterine fibroids. In a traditional uterine fibroid operation, a physician must directly cut through a patient’s healthy tissue to access the site of a tumor. In some cases, a physician may be required to completely remove a patient’s uterus. With ablation-based procedures, patients can undergo a minimally-invasive operation that causes less tissue damage.
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