Vensica Medical Completes $500,000 Finance RoundSivan Cohen
MISGAV, Israel, July 19, 2016 /PRNewswire/ — Vensica Medical, a portfolio company of Trendlines Medical, announced the completion of a financing round of US$500,000 from a private foreign investor. Vensica is developing a needle-free, painless procedure for the delivery of Botox® to treat overactive bladder. The company was founded in August 2014 and will use this investment for R&D and completion of device design.
Overactive bladder (OAB) — the most common type of bladder disorder is the urgent need to urinate and involuntary loss of urine. The disorder has a profoundly negative impact on the quality of life of millions of people. It is estimated that there are 39 million people in the United States alone who suffer from OAB.
Medication is one treatment option, but it is ineffective in 50% of the cases and has significant side effects. In 2011, the FDA approved the use of Botox to treat OAB. While it has demonstrated effectiveness, the treatment is not without challenges: It is expensive, painful (20-30 injection sites), risky (urinary tract infections), and is most often performed under sedation.
Leveraging the known properties of ultrasound (opens pores and “pushes” drugs through them), Vensica is developing an ultrasound-catheter used to deliver Botox into the bladder wall. The procedure, performed in the doctor’s office or clinic — without anesthesia — is painless and eliminates the use of needles.
Vensica Medical CEO, Avner Geva, remarked, “Vensica is extremely pleased with the investment, which will allow us to complete development and begin the regulatory process. We are excited to be developing a product with the ability to improve the quality of life for so many people who suffer from OAB.”
“Vensica’s unique approach to improving a known treatment option for OAB and reducing patient discomfort is a true example of the type of exciting innovation that Trendlines Medical seeks, invests in, and supports. Vensica’s investment is a vote of confidence in their technology and direction,” added Eran Feldhay, CEO Trendlines Medical.
- About The Trendlines Group
The Trendlines Group, listed on the Singapore Stock Exchange (SGX:42T), is an innovation commercialization company that invents, discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building.