Channel Medsystems, Inc., a San Francisco, CA-based a clinical-stage medical technology company, raised $9.7m in Series B financing.
The round was led by Boston Scientific Corporation, with participation from InCube Ventures, Aperture Ventures, Scientific Health Development II and STCM Ventures.
The company intends to use the funds to for continued development of its novel cryogen-based Global Endometrial Ablation technology and on-going R&D and Clinical Regulatory efforts.
Co-founded by Dr. Dan Burnett and led by newly appointed president and chief executive officer Ric Cote, Channel Medsystems has developed Global Endometrial Ablations (GEA) technologies to treat excessive menstrual bleeding as an alternative to more invasive surgical procedures.
The company is a spin-out of incubator TheraNova.