The round was led by Nashville, TN-based Relevance Ventures. Capital from the financing will support the completion of Aqua Medical's ongoing U.S. RESTORE-1 pilot study and fund operational preparations to initiate a planned U.S. pivotal trial evaluating its investigational Proximal Intestinal Mucosal Ablation (PIMA) procedure for Type 2 diabetes, subject to regulatory authorization.

Aqua Medical is a clinical-stage medical technology company advancing a minimally invasive, through-the-working-channel-of-the-scope technology to address Type 2 diabetes. Using its proprietary radiofrequency vapor ablation (RFVA) system for the Proximal Intestinal Mucosal Ablation (PIMA) procedure, the company aims to deliver a scalable, device-based approach intended to address mechanisms associated with Type 2 diabetes and potentially improve metabolic outcomes.

The RFVA system is FDA-cleared for marketing for its indicated use in the gastrointestinal tract. Use of the RFVA system for the PIMA procedure is investigational. The safety and effectiveness of the RFVA system for the PIMA procedure have not yet been established.

Patients interested in learning more about Aqua Medical's technology and ongoing clinical efforts are encouraged to reach out to the company or consult with their physicians.