UroMems, a Grenoble, France-based developer and manufacturer of the electronic artificial urinary sphincter (eAUS), raised €16m in a combination of equity and debt financing.
The round was led by Hil-Invent GmbH, with co-investor Financière Arbevel. Existing UroMems investors, including Wellington Partners, Bpifrance, via its FABS fund, Cita Investissement, Supernova Invest and btov Partners also participated in this financing, as well as the company’s founders. The debt financing was provided by a syndicate including Bpifrance, BNP Paribas, Caisse d’Epargne, Crédit Agricole and Banque Populaire. In connection with the financing, Friedrich Hillebrand, PhD, President of Hil-Invent and Louis Geslin, PhD, Private Equity Portfolio Manager at Financière Arbevel, have agreed to join the company’s Board of Directors.
The proceeds of the financing are expected to fund ongoing preclinical studies and the initiation of the first clinical studies of UroMems’ eAUS device, which is being developed for the treatment of Stress Urinary Incontinence (SUI).
Founded in 2011 by Pr Pierre Mozer, Hamid Lamraoui and Stéphane Lavallée, UroMems focuses on designing, developing and commercializing active implantable medical devices. The eAUS is an active implantable medical device which compensates for sphincter insufficiency in patients with SUI. Protected by over 80 patents, it is based on the latest technologies in embedded intelligent systems and software.