AEGEA Medical Secures $40 million Financing
REDWOOD CITY, Calif., January 02, 2018 –(BUSINESS WIRE)–AEGEA Medical Inc. (“AEGEA”), a privately held medical technology company in the women’s health space focused on the development of its patented Adaptive Vapor Ablation technology for endometrial ablation, today announced it has closed on a $30 million financing with Perceptive Advisors (“Perceptive”). In connection with the financing, AEGEA also raised an additional $10 million from its existing equity investors including Alloy Ventures, Delphi Ventures, Medtronic, BioMed Ventures, and Solas BioVentures.
AEGEA’s Adaptive Vapor Ablation system is the first FDA-approved endometrial ablation system specifically designed to treat menorrhagia, or abnormal uterine bleeding, in the doctor’s office with minimal anesthesia/analgesia and rapid recovery. This financing provides substantial incremental capital to fund AEGEA’s operations while it prepares to launch commercially in the US.
Don Gurskis, President and CEO of AEGEA, commented, “AEGEA is at an important inflection point as we prepare to transform the experience for the millions of women suffering from abnormal uterine bleeding, and the physicians that serve them. We are delighted to partner with Perceptive Advisors as we prepare to launch this novel and disruptive technology.”
“We are excited to be partnering with AEGEA Medical in helping to launch this game-changing technology in the women’s health space,” said Sam Chawla, Portfolio Manager at Perceptive. “We believe AEGEA’s Adaptive Vapor technology has great potential for addressing and expanding the market for endometrial ablation, and we look forward to working with AEGEA to achieve these objectives.”
Piper Jaffray & Co (“Piper Jaffray”) served as exclusive financial advisor and sole placement agent in connection with the transaction.
About AEGEA Medical
AEGEA Medical is pioneering the application of its Adaptive Vapor Ablation technology to deliver therapies that provide high quality patient outcomes to a wider range of patients. AEGEA’s FDA approved water vapor technology enables the delivery of a safe and effective endometrial ablation for the treatment of menorrhagia in a simple, office-based procedure that takes only minutes. With a vision to expand safe and effective treatment options to more patients, and provide physicians with the confidence and convenience necessary to perform office-based procedures, AEGEA is inspiring new approaches to women’s healthcare. Founded in 2008, AEGEA Medical is located in Redwood City, California. For more information about AEGEA, visit www.aegeamedical.com.
About Perceptive Advisors
Founded in 1999 and based in New York, NY, Perceptive Advisors is an investment management firm focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare. For more information about Perceptive, visit www.perceptivelife.com.
About Piper Jaffray
Founded in 1895, Piper Jaffray Companies (NYSE: PJC) is a full-service U.S. investment bank and asset management firm offering M&A advisory, investment underwriting, corporate investment services and institutional brokerage. For more information about Piper Jaffray, visit www.piperjaffray.com.
AEGEA Medical Inc.
Don Gurskis, 650-7011-1125x 402
Important Safety Information:
The Mara Water Vapor Ablation System is indicated to ablate the endometrial lining of the uterus in premenopausal women with menorrhagia due to benign causes for whom childbearing is complete. Pregnancy following the Mara procedure can be dangerous. The Mara procedure is not for those who have or suspect uterine cancer; have an active genital, urinary or pelvic infection; or an IUD. As with all surgical procedures, there are risks and considerations associated with the use of the Mara Water Vapor Ablation System. Please refer to the device labeling for a detailed discussion of the device’s intended use, relevant warnings, precautions, side effects, and contraindications.