Axonics Modulation Technologies, Inc., a Irvine, Calif.-based developer of novel implantable neuromodulation technology, completed a $32.6m Series A financing.
The round was led by Edmond de Rothschild Investment Partners (EdRIP), with participation from NeoMed Management, Legend Capital, and private individuals. In conjunction with the funding, Raphaël Wisniewski of EdRIP, Erik Amble of NeoMed and Darren Cai of Legend joined Axonics’ Board of Directors and established a European subsidiary to support planned European clinical studies and a commercial product launch.
The company intends to use the funds to accelerate product development and fund a series of multi-center clinical studies to establish safety and efficacy of its patented neuromodulation system.
Axonics holds an exclusive license for its miniaturized implantable neuromodulation technology from The Alfred Mann Foundation (AMF), a non-profit medical research organization located in Valencia, Calif. Axonics’ products are directed toward a number of clinical indications including the treatment of chronic pain and overactive bladder.
The company was led by:
– Raymond W. Cohen, Chief Executive Officer;
– Dan L. Dearen, Chief Operating & Financial Officer;
– Michael Williamson, Senior VP & General Counsel;
– Guangqiang Jiang, Ph.D., Chief Technology Officer and
– Timothy Deer, M.D..