AEGEA Medical, Inc., a privately held medical device company focused on the development of its proprietary and innovative water vapor treatment for abnormal uterine bleeding, today announced the closing of its Series C financing of $36 million with investments from existing investors Alloy Ventures, Delphi Ventures, and Covidien/Medtronic. New major investors include BioMed Ventures and Solas Bioventures. AEGEA also announced completion of enrollment in its multi-center international pivotal trial. AEGEA will use this Series C capital to complete the submission of its PMA application to seek FDA approval to market its endometrial ablation procedure to treat abnormal uterine bleeding.
'We sincerely appreciate the continued engagement and support of our investors as we move closer to realizing AEGEA's vision of a new treatment approach that will transform the experience of gynecologists and the millions of women they treat who suffer from abnormal uterine bleeding,' said Don Gurskis, President and Chief Executive Officer of AEGEA Medical.
Many women experience heavy menstrual bleeding at some point in their lives. Nearly 1 in 5 women between the ages of 30 and 50 experience abnormally heavy or prolonged bleeding. Doctors call this condition 'abnormal uterine bleeding (AUB)' or 'menorrhagia'. The increase in quantity and duration of menstrual blood loss can negatively impact everyday routine activities such as work and family care, require extended efforts for sanitary protection, and symptoms of anemia in some cases.
About AEGEA Medical
AEGEA Medical is developing technology that utilizes convective water vapor to treat menorrhagia. The AEGEA Vapor System delivers controlled, low-pressure natural water vapor to the uterine cavity to efficiently ablate the inner lining of the uterus. AEGEA's technology enables delivery of adaptive water vapor in a simple office-based procedure designed to take only minutes to complete and to provide a reduction or cessation of uterine bleeding and improved quality of life. Founded in 2008, AEGEA Medical is located in Redwood City, California.