Amphora Medical, Inc., a Minneapolis, Minnesota-based developer of medical devices to treat overactive bladder (OAB), closed a $35.5m Series B financing.
The round was led by Longitude Capital and Boston Scientific Corporation (NYSE:BSX), with participation from HBM Healthcare Investments, as well as existing venture investors F-Prime Capital Partners and Baird Capital. In conjunction with the funding, Marc Galletti of Longitude Capital and Thomas Thaler, Ph.D. of HBM Healthcare Investments will join Amphora Medical’s Board of Directors. Chris Owens, President and CEO of Gynesonics, joined as an Independent Director.
The company will use the funds to conduct the U.S. pivotal study for its Selective Bladder Denervation System in women with OAB.
Founded in 2011 and led by Tom Ressemann, President and Chief Executive Officer, Amphora Medical is a bladder denervation company developing minimally invasive products to restore the quality of life of people suffering from bladder dysfunction syndromes. The company is currently working on a novel cystoscopic device which uses targeted ablation (fulguration) to dampen the signals of the nerves responsible for the symptoms of OAB at their source in the bladder, while preserving the nerves responsible for natural bladder function.