Mirabilis Medica, a Bothell, Washington-based developer of ultrasound technology for treatment of uterine fibroids, held a $7m initial closing on $7 as part of a series A-1 financing of up to $13m.
The round, which was led by GSR Ventures, included $4m of new cash, and conversion of $3m of notes to equity.
Existing investor Charter Life Sciences also participated in the financing.
The company intends to use the capital to advance research and development with the goal of commercializing its proprietary high-intensity focused ultrasound (HIFU) technology.
Founded in 2004 and led by newly appointed CEO Jens U. Quistgaard, a medical device entrepreneur, Mirabilis Medica is a women’s healthcare company which is developing non-invasive ultrasound technology for treatment of uterine fibroids.
The company is conducting clinical studies outside of the United States.