Channel Medsystems, an Emeryville, Calif.-based developer of an innovative, physician office-based therapy for heavy menstrual bleeding, secured a $14.1m Series C-1 financing.
The insider-led round included participation by Third Point Ventures, InCube Ventures, Aperture Venture Partners, Scientific Health Development, Longwood Fund, and Boston Scientific.
The company plans to use the funds to support initiatives leading up to anticipated FDA approval as well as initial preparation for commercial launch.
Led by Ric Cote, President and CEO, Channel Medsystems has developed the Cerene® Cryotherapy Device to treat heavy menstrual bleeding. Limited to investigational use in the US, Canada, and Mexico, Cerene allows women who are finished with childbearing to receive treatment in their gynecologist’s office.
The new round follows significant achievements by the company in 2017, including completion of the treatment phase of a 242-patient, multi-center pivotal study in March and receipt of the CE mark approval in July.