Avation Medical, a Columbus, OH-based neuromodulation and digital health company, raised $22M+ in equity funding.
The round was led by ShangBay Capital and Asahi Kasei, with participation from Angelini Ventures, JobsOhio Growth Capital Fund, Arboretum Ventures, Tonkawa, Medtronic, and Avestria Ventures.
The company intends to use the funds for the U.S. launch of its Vivally System.
Led by CEO Jill Schiaparelli, Avation Medical is an neuromodulation and digital health company with a mission to make wearable peripheral neuromodulation accessible to patients across a variety of clinical conditions. Its Vivally System is an FDA-cleared, closed-loop, at-home wearable neuromodulation device system. Combined with a companion mobile application, Vivally offers a comprehensive therapy and support system for patients suffering from urge urinary incontinence and urinary urgency caused by overactive bladder syndrome (OAB). It is prescribed by a clinician following a brief clinical evaluation which includes personalized calibration. Personalization establishes an EMG target and range of neuromodulation energy associated with the detection of an EMG signal to indicate nerve activation.
Avation Medical is launching the Vivally System, which is available with a prescription, in key markets in early Spring 2024.
Commenting on the news, Jill Schiaparelli said: “This new capital will jump-start the highly anticipated launch of Vivally, which sets a new standard for OAB care. We are thrilled to welcome new investors and grateful for the unwavering support of existing investors who share our belief that non-invasive wearable neuromodulation therapy will significantly benefit patients and clinicians. We could not ask for a stronger group of institutional investors as we accelerate our efforts to bring this innovative technology to market.”
FinSMEs
01/02/2024