Vensica Therapeutics Raises $16M in Funding

The Vensica Therapeutics device (courtesy Vensica Therapeutics) (PRNewsfoto/Vensica Therapeutics)
The Vensica Therapeutics device (courtesy Vensica Therapeutics) (PRNewsfoto/Vensica Therapeutics)

Vensica Therapeutics, a Tel Aviv, Israel-based clinical stage biopharmaceutical company, closed a $16m funding round.

The round was led by Israel Biotech Fund with participation from Laborie, Lew Pell, Agriline, and The Trendlines Group.  

The funds raised will support the company’s phase II multicenter clinical trials in Europe and the USA.

Led by CEO Avner Geva, Vensica is a urology therapeutics company developing a platform for drug delivery for several urinary bladder indications, based on a proprietary ultrasound-assisted drug delivery system.

The round follows an announcement by the company earlier this year on the signing of a strategic license and collaboration agreement with Merz Therapeutics, a business of the Merz Group and a leader in the field of neurotoxins. Vensica licensed Merz’s botulinum neurotoxin A (XEOMIN®) for needle-free use in urological procedures. The company will expand its workforce in Israel for the next stage of clinical and regulatory development of its device together with XEOMIN®, focusing on overactive bladder treatment.