Women’s healthcare company Gynesonics has secured $42.5m in financing to help further commercialise its Sonata technology.
The round, led by existing investors Amzak Health, Endeavour Vision, Kaiser Permanente Ventures, Runway Growth Capital, and Bain Capital, adds to a previous investment raise of $25m in April 2023.
UK-based life science investment fund MVM Partners joined the round as new investors.
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Gynesonics president and CEO Skip Baldino said: “This funding will enable Gynesonics to continue to expand commercial operations and provide millions of patients suffering from symptomatic fibroids a safe and efficacious minimally invasive treatment.”
California-based Gynesonics’s lead product is the Sonata device. The system has had various iterations, with the 2.1 version being US Food and Drug Administration (FDA)-cleared in May 2020, and the 2.2 version being FDA-cleared in September 2021.
Baldino added that more than 275 million Americans are covered for Sonata and that a new Category 1 Current Procedural Terminology (CPT) code for the device will be effective in the US from January 2024.
