Boomerang Medical announced today that it raised $20 million in a Series B financing to support its implantable neuromodulation system.
The women-led bioelectronic medicine company develops its technology to treat inflammatory bowel disease (IBD). It expects to use proceeds to advance BOOM-IBD2, its pivotal trial with an initial focus on ulcerative colitis. The company said the study, which is currently enrolling patients across the U.S., is the first pivotal trial of implantable neuromodulation in IBD.
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Boomerang aims to evaluate the small implanted device’s gentle nerve stimulation — sacral neuromodulation — in addressing symptom burden in ulcerative colitis. The company completed a 40-patient feasibility study in Crohn’s disease and ulcerative colitis already.
Sacral neuromodulation has already shown utility in urinary and bowel dysfunction. Companies like Axonics (now part of Boston Scientific) and Medtronic currently offer implantable systems.
Arboretum Ventures and Hatteras Venture Partners led the Boomerang financing.
“Ulcerative colitis patients struggle with symptoms that profoundly affect their daily lives,” said Heather Simonsen, Boomerang CEO. “Our pivotal trial asks a simple but critical question: can this therapy meaningfully reduce symptom burden and improve quality of life for people living with ulcerative colitis? With the continued support of our investors, we’re pursuing that answer for patients and their physicians.”
