Amphora Medical, the US-based developer of an overactive bladder (OAB) treatment device, completed a $35.5m series B round yesterday co-led by medical device producer Boston Scientific and venture capital firm Longitude Capital.
F-Prime Capital Partners, a VC branch of financial services group Fidelity, also participated, as did investment firm HBM Healthcare Investments, and VC and private equity firm Baird Capital.
Founded in 2011, Amphora is developing a non-invasive cystoscopic device to help patients with OAB by dampening the signals sent out by nerves in the bladder that are responsible for the symptoms of the condition.
The series B funding will support a pivotal study for Amphora’s Selective Bladder Denervation System for women with OAB. Marc Galletti of Longitude Capital and Thomas Thalerof HBM will join the board of Amphora Medical in connection with the round.
Tom Ressemann, president and chief executive of Amphora Medical, said: “The closing of this round is an important milestone for Amphora as we work to advance our minimally-invasive Selective Bladder Denervation System as a treatment for OAB.
“Upon the completion of two ongoing feasibility studies, we expect to initiate the pivotal, randomised, sham-controlled, selective bladder denervation clinical trial in women who are refractory to medical therapy in 2018.”
Fidelity Biosciences, the forerunner of F-Prime, and Baird Capital’s parent firm RW Baird had previously provided $12.8m of series A funding for Amphora spread out across tranches in 2013 and 2015.