Michael Barbella, Managing Editor05.20.21
UroMems has raised an additional 7 million euros in a second tranche of its previously announced Series B financing round completed last year, bringing the total raised to 23 million euros. The latest capital was provided by existing investors including Hil-Invent GmbH, Financière Arbevel, Wellington Partners, Bpifrance, via its FABS fund, Supernova Invest and btov Partners.
The proceeds from this financing are expected to fund the final development, manufacturing, and first clinical trials of UroMems’ eAUS, an electronic artificial urinary sphincter.
“Our development strategy remains on-track with the next major phase being the initiation of the first-in-human studies of our eAUS device, one of the most sophisticated devices in development for the treatment of SUI,” said Hamid Lamraoui, CEO and co-founder of UroMems. “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.”
The eAUS is an active implantable medical device which compensates for sphincter insufficiency in patients with stress urinary incontinence. Protected by more than 90 patents, the device has been developed with a focus on the patient benefits based on the latest technologies in embedded smart, digital & robotic systems. The eAUS is an electronic artificial urinary sphincter designed to overcome the limitations of current solutions by optimizing safety and performance, patient experience and surgeon convenience.
The proceeds from this financing are expected to fund the final development, manufacturing, and first clinical trials of UroMems’ eAUS, an electronic artificial urinary sphincter.
“Our development strategy remains on-track with the next major phase being the initiation of the first-in-human studies of our eAUS device, one of the most sophisticated devices in development for the treatment of SUI,” said Hamid Lamraoui, CEO and co-founder of UroMems. “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.”
The eAUS is an active implantable medical device which compensates for sphincter insufficiency in patients with stress urinary incontinence. Protected by more than 90 patents, the device has been developed with a focus on the patient benefits based on the latest technologies in embedded smart, digital & robotic systems. The eAUS is an electronic artificial urinary sphincter designed to overcome the limitations of current solutions by optimizing safety and performance, patient experience and surgeon convenience.