Vensica, a Tel Aviv, Israel-based clinical stage biopharmaceutical company, raised $19M in funding.
Vensica executed a strategic collaboration agreement with Merz Therapeutics in 2021 and the Merz Group is participating in Vensica’s financing with up to $3m, bringing the total round to up to $19m. The round was led by Israel Biotech Fund (IBF) with the participation of Laborie, Lew Pell, Agriline, and The Trendlines Group.
The company intends sto use the funds:
- to conduct its phase II multicenter clinical trials in Europe and the USA,
- to expand its workforce in Israel for next stage clinical and regulatory development of its device together with Merz Therapeutics’ XEOMIN®, focusing on overactive bladder treatment.
Founded in 2015 by Avner Geva, (Yale, B.Sc, Technion, M.Sc), Vensica is an urology therapeutics company developing a platform for drug delivery for the treatment of urological indications including overactive bladder, neurogenic bladder, and interstitial cystitis, based on a proprietary ultrasound-assisted drug delivery system.
Merz Therapeutics, a business of the Merz Group, is a leader in the field of neurotoxins. The company has exclusively licensed Merz’s botulinum neurotoxin A (Xeomin®) for needle-free use in urological procedures.
FinSMEs
07/02/2022