AEGEA Medical Inc., a Redwood City, Ca.-based developer of a novel, minimally invasive treatment for abnormal uterine bleeding, has completed a $13.3m venture capital financing.
The round was led by Covidien Ventures, with participation from existing investors Alloy Ventures and Delphi Ventures.
The company plans to use the funds to complete its product development efforts and begin the next stage of clinical testing of its endometrial ablation system to treat abnormal uterine bleeding.
The system utilizes vapor to rapidly ablate the uterine lining. According to a written statement, this minimally invasive procedure can be performed by a gynecologist in an office setting.
In conjunction with the funding, Amy Belt, Director of Covidien Ventures, has joined AEGEA’s Board of Directors.
The company is led by General Manager Don Gurskis.
FinSMEs
30/06/2011