Vensica Medical, an Israeli company developing an ultrasound based, needle-free drug delivery system, received a $2m investment from Cogentix Medical, Inc., (NASDAQ: CGNT), a global medical device company focused on providing the Urology, Uro/Gyn and Gynecology markets with innovative and proprietary products.
The amount of the deal was not disclosed.
Cogentix will receive one seat on the Vensica Board and options to acquire the entire company for an additional $8m.
Led by Avner Geva, CEO, Vensica Medical develops VensiCare, an ultrasound based, needle-free drug delivery system whose initial indication will be the delivery of botulinum toxin (such as Botox® or Dysport®) to treat overactive bladder (OAB).
The company also has intellectual property for the delivery of oncology agents to the bladder.
Vensica currently anticipates commencing human clinical trials of VensiCare for OAB during the fourth quarter of 2018.
FinSMEs
02/10/2017