Augmenix, Inc., a Waltham, Mass.-based developer of minimally invasive hydrogel products to improve outcomes following cancer radiotherapy, secured $6m in series E funding.
Existing investors participated in the round.
The company intends to use the funds to develop products and continue to expand commercial operations in the U.S. and internationally.
Led by John Pedersen, CEO, Augmenix focuses on the development and commercialization of radiation oncology products using proprietary hydrogel technology. Founded by Incept LLC in 2008, the company provides the SpaceOAR System, an absorbable hydrogel introduced through a needle that pushes the rectum away from the prostate in men undergoing prostate cancer radiotherapy. The device received U.S. Food and Drug Administration (FDA) clearance in April 2015, and since then more than 129 cancer centers in 35 states have adopted it. It also has a CE mark, and Canadian and TGA approvals.
The company also markets TraceIT® Hydrogel, an absorbable hydrogel tissue marker with CT, MRI and ultrasound visibility.