Business Wire

Axonics® Announces $40 Million Financing

Jaa

Axonics Modulation Technologies, Inc., a privately-held developer of the first rechargeable Sacral Neuromodulation (r-SNM™) system for the treatment of urinary and bowel dysfunction, announced today that it has completed a $40.1 million financing that combines $20.1 million in equity and a $20 million credit facility.

The equity financing was led by Longitude Capital and included participation from existing investor Gilde Healthcare. The secured credit facility was provided by Silicon Valley Bank (SVB). Concurrent with the financing, Juliet Bakker, co-founder and Managing Director of Longitude, will join the Axonics Board of Directors.

Ms. Bakker commented, “Given the quality of the Axonics r-SNM system and the caliber of its management team, Longitude is confident that Axonics is well positioned to address the needs of patients with urinary and bowel dysfunction and disrupt the worldwide market for sacral neuromodulation.”

Axonics intends to use the proceeds from the financing to launch its r-SNM system in Europe and in the U.S. following FDA approval. Axonics is currently conducting a pivotal study in select medical centers in the U.S. and Europe and expects to complete the study in late 2018. The Axonics r-SNM system is approved in Europe, Canada and Australia.

“On behalf of all the stakeholders in Axonics, I extend a warm welcome to Longitude as a new investor and Ms. Bakker as a new board member,” said Raymond W. Cohen, Chief Executive Officer of Axonics. “Axonics has created an innovative and highly competitive sacral neuromodulation system, and as a result, we have been able to attract a significant amount of investment capital from world-class investors in Europe, the U.S. and China. With this new equity and the credit facility from SVB, we now have the necessary capital to successfully commercialize the r-SNM system.”

About Longitude Capital

Longitude Capital is a private investment firm focused on venture growth investments in biotechnology and medical technology companies that seek to improve clinical outcomes, enhance quality of life and/or reduce system costs. Longitude invests in both privately held and publicly traded life science companies through a variety of investment approaches. Since 2006, Longitude Capital has raised over $1.2 billion across three funds and has offices in Menlo Park, CA and Greenwich, CT. For more information, please visit www.longitudecapital.com.

About Silicon Valley Bank

For 35 years, Silicon Valley Bank has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.

About Axonics Modulation Technologies, Inc.

Axonics, based in Irvine, CA, is a privately-held venture backed company that has developed a novel implantable neuromodulation technology for patients with urinary and bowel dysfunction. 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.

Contact information

Axonics Modulation Technologies, Inc.
Dan Dearen, +1-949-396-6322
Chief Operating & Financial Officer
ddearen@axonicsmodulation.com
or
W2Opure
Jill Bertotti, +1-714-225-6726
jbertotti@W2Ogroup.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

New Industry Research Shows Augmented Reality Adopters Have Best-in-Class Performance Related to Factory Operations, Service, and Training18.10.2018 13:00Tiedote

PTC (NASDAQ: PTC) today announced from Augmented World Expo (AWE) Europe 2018 the availability of new research in conjunction with Aberdeen Group titled, “How the Best-in-Class Use Augmented Reality for Superior Service Management.” The comprehensive research study and corresponding report identifies significant financial improvements realized by industrial companies embracing augmented reality (AR), and provides best practices for unlocking the potential of the technology across various environments. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181018005051/en/ PTC announced exclusive data from Aberdeen Group shows that organizations using augmented reality have experienced significant year-over-year business growth and have improved their bottom lines dramatically. (Graphic: Business Wire). In addition to the report published today, PTC announced exclusive data from Aberdeen that shows that organizations using AR have ex

PotNetwork Holdings, Inc. Concludes Record Breaking 3rd Quarter with Revenues Exceeding $6.1 Million18.10.2018 13:00Tiedote

PotNetwork Holdings, Inc. (OTC Pink: POTN ) today announced third quarter revenues totaling $6.1 Million representing a 37% increase over the same period last year. The Company committed to increasing marketing during the last year resulting in the increase of year over year revenue. The marketing budget increased by more than 200% during that time. Diamond CBD distributes premium quality products and has established a successful, continually broadening distribution footprint. Diamond CBD’s products are taking advantage of the popularity of hemp-derived CBD. Diamond’s hemp-derived CBD products do not contain any THC and are tested for purity. Driven by the continually growing results of its wholly-owned subsidiary, Diamond CBD, Inc., PotNetwork Holdings, Inc. has recently filed its Form 10 registration statement with the U.S. Securities and Exchange Commission that includes the Company’s audited financial statements. Additionally, PotNetwork Holdings, Inc. intends to seek listing on th

Cigalah Medpharm Announces the Launch in Saudi Arabia and United Arab Emirates of Nexodyn® AOS, the Tehclo-Based Wound Cleanser Developed by the Swiss Pharma Company APR18.10.2018 12:30Tiedote

Nexodyn® AcidOxidizing Solution (AOS), the Tehclo-based cleanser for acute and chronic wound management, is now starting to be available in Saudi Arabia and United Arab Emirates (UAE), promoted and commercialized by the leading pharmaceutical company Cigalah Medpharm, part of Cigalah Group, following an exclusive partnership with the Swiss Pharma company APR Applied Pharma Research (“APR”). The current size of wound care market in Saudi Arabia and United Arab Emirates accounts for almost 70 million USD and it’s expected to keep growing in the next years because of the aging of the population and the increasing prevalence of chronic wounds, which represent roughly the 70% of the total market. As confirmed by market research, strong is the need from Healthcare Professionals (HCP) of new treatment options to ensure a faster and effective wound healing. The innovative wound cleanser, Nexodyn® AOS, based on APR’s proprietary and patented technology Tehclo®, offers to HCPs and caregivers a n

New Open Applications Advance Comprehensive Modeling Environment for Multidiscipline Collaboration18.10.2018 11:58Tiedote

The Year in Infrastructure 2018 Conference – Bentley Systems, Incorporated, the leading global provider of comprehensive software solutions for advancing the design, construction, and operations of infrastructure, today launched OpenSite Designer, a built-for-purpose application for the design and construction of civil site projects. It also launched OpenBuildings, bringing together its AECOsim building design and Speedikon factory and industrial design applications; and announced the availability of OpenBuildings Station Designer, a specialized application for designing rail and metro stations. At the same time, Bentley announced the availability of OpenBridge Designer, which combines Bentley’s bridge modeling, analysis and design capabilities into one comprehensive package, and OpenFlows FLOOD, a flood analysis and early warning system. In addition, in pursuit of its ‘industrialization’ strategy, Bentley announced it has rebranded under its Open portfolio several of its applications

Takeda Receives Clearance from the Japan Fair Trade Commission for the Proposed Acquisition of Shire plc18.10.2018 10:19Tiedote

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION Takeda Pharmaceutical Company Limited (“Takeda”) announces that it has received unconditional clearance from the Japan Fair Trade Commission for the proposed acquisition of Shire plc announced on May 8, 2018 (the “Acquisition”). The receipt of antitrust clearance in Japan is another significant step towards closing the transaction. In addition to Japan, the Acquisition has now received unconditional clearances from regulatory authorities in multiple key jurisdictions, including the United States, China and Brazil, among others. “We are very pleased to have received unconditional clearance from the Japan Fair Trade Commission for our proposed acquisition of Shire,” said Christophe Weber, President and Chief Executive Officer of Takeda. “Takeda is proud of its Japanese heritage, and we are look

FedEx Expanding Freight Forwarding Capabilities with Acquisition of Manton18.10.2018 09:00Tiedote

FedEx Corp. (NYSE:FDX) announced today that it has agreed to acquire Manton Air-Sea Pty Ltd, a leading provider of logistics services, including freight forwarding and customs brokerage solutions. Manton’s capabilities complement and expand the FedEx portfolio of offerings essential to the rapidly growing global commerce landscape. The acquisition is expected to close later this year and is subject to customary closing conditions. With operations across Australia, Manton connects customers to global markets through regional gateways and relationships with multiple air carriers. With specific expertise in the healthcare and automotive markets, Manton is a proven leader in air and ocean freight forwarding solutions, as well as customs brokerage. Headquartered in Sydney, Australia, Manton will operate as a subsidiary of the FedEx Trade Networks operating company. “Adding Manton’s capabilities to FedEx Trade Networks and the broader FedEx portfolio will open up opportunities for us to cont

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme