NeuWave Medical, a Madison, WI-based medical device company, has raised a $14m in Series B financing.
The round was led by new investor H.I.G. BioVentures, with participation from existing shareholders Venture Investors, WARF and the State of Wisconsin Investment Board.
Led by President and CEO Laura G. King, NeuWave Medical develops and commercializes energy-based, soft tissue ablation devices for interventional oncology, surgery and other clinical markets. During the first eighteen months of commercial availability, its Certus 140 microwave ablation system has been used by surgical oncologists and interventional radiologists to treat over 1500 patients at ninety leading healthcare institutions.
The company intends to use the funding to further commercialize Certus 140 and to continue to develop novel interventional and surgical tools.
In conjunction with the funding, H.I.G. BioVentures Managing Director, Michael Wasserman, will join NeuWave’s Board of Directors.