Gilde Healthcare participates in EUR 31 million financing round of neuromodulation company Axonics
Utrecht, the Netherlands — Gilde Healthcare today announces its investment in Axonics (Paris, France and Irvine, US), developer of the first rechargeable Sacral Neuromodulation (r-SNM™) system for the treatment of urinary and bowel dysfunction. Gilde Healthcare participated in a EUR 31 million financing round. Proceeds from the financing will be used to conduct a pivotal clinical study in Overactive Bladder patients to gain U.S. FDA approval and prepare Axonics to access markets around the world. During 2016, the Axonics r-SNM system gained regulatory approval in Europe (CE-mark) and Canada.
Geoff Pardo, Partner at Gilde Healthcare, joined the Axonics board of directors. Pardo has significant experience in the medical device industry as an operator and investor. Pardo commented,
"Gilde believes that the SNM market will grow to over EUR 1 billion in revenue in the next few years and with only one player in the market today, we are confident that Axonics, given the quality of its management team and its miniaturized implantable rechargeable system, is poised to take a measurable portion of that market following FDA approval."
Axonics (Paris, France and Irvine, US) is a privately-held venture backed company that has developed a novel implantable neuromodulation technology for patients with urinary and bowel dysfunction and can be further directed towards several clinical indications. The Axonics r-SNM system includes a miniaturized rechargeable implantable stimulator qualified to function at least 15 years, a charging system optimized for reduced charge time with no heating, a patient-friendly remote control and an intuitive clinician programmer that facilitates the lead placement procedure and programming. For more information, visit the Company's website at www.axonicsmodulation.com.
About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing two business lines: a venture & growth capital fund and a lower mid-market buy-out fund.
Gilde Healthcare's venture & growth capital fund invests in medtech, diagnostics, digital health and therapeutics. The portfolio companies are based in Europe and North America.
Gilde Healthcare's lower mid-market buy-out fund invests in profitable European healthcare services companies with a focus on the Netherlands, Belgium and Germany. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market.
Since 2001 Gilde Healthcare has raised €800 million ($900 million) for its specialized funds. www.gildehealthcare.com
Gilde is currently investing out of Gilde Healthcare IV which is financed, in part, by the European Recovery Program-European Investment Fund Facility.