Meditrina Secures $13 Million in Equity Financing Led by ShangBay Capital to Advance Aveta System for Uterine Disorders

On October 9, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical device company Meditrina announced the completion of a $13 million equity financing round. The round was led by ShangBay Capital and Aethan Capital. In addition, William Dai, Founder and Managing Partner of ShangBay Capital, will join Meditrina’s Board of Directors.

Meditrina intends to use the funds from this financing round to advance the commercialization of its Aveta medical device system. The system received FDA 510(k) clearance in May 2019 and is primarily used to treat gynecological conditions such as uterine fibroids and endometrial polyps.

It is reported that Meditrina completed a $5 million debt financing round led by Horizon Technology Finance in May 2019.

Meditrina, a medical device startup founded in 2016 and headquartered in California, USA, is dedicated to developing diagnostic and therapeutic devices, such as hysteroscopes and surgical instruments, for the prevention, diagnosis, and treatment of gynecological conditions including polyps and uterine fibroids.

Meditrina’s flagship product is the Aveta System, designed for the diagnosis and treatment of intrauterine pathologies in women. The system features a comprehensive visualization system, a fluid management system, a disposable hysteroscope, and a tissue resection device. It can be used for both diagnostic hysteroscopy and surgical procedures. Currently, the Aveta System is primarily employed for uterine pathology screening, biopsy, and resection of soft tissues such as fibroids, to treat conditions including endometrial polyps and retained products of conception (RPOC).

Endometrial Polyps and Uterine FibroidsEndometrial polyps and uterine fibroids are two common gynecological conditions affecting the uterus. Endometrial polyps refer to inflammatory lesions occurring on the endometrium, whereas uterine fibroids denote tumors or masses located within the myometrium, beneath the serosa, or in the submucosal layer. Their development is primarily associated with abnormal hormonal levels and endocrine disorders.

Clinically, both endometrial polyps and uterine fibroids exhibit high prevalence. According to the New England Journal of Medicine, a comprehensive medical journal, approximately 1 million women in the United States are affected by conditions such as endometrial polyps and uterine fibroids, with severe cases even requiring surgical intervention.

Csaba Truckai, President and CEO of Meditrina, stated, “The Aveta System is a leading device for the detection of intrauterine conditions and soft tissue resection procedures, and we are highly optimistic about its potential. Meditrina possesses multiple proprietary technology platforms and is committed to developing novel hysteroscopes to enhance patient experience and clinical outcomes. We appreciate the support of ShangBay Capital and welcome William to the Meditrina Board of Directors.”

Shangwan Capital, headquartered in California, United States, is a venture capital firm. The company primarily provides funding to the medical devices, biotechnology, and healthcare sectors.

Aethan Capital, headquartered in California, USA, is an asset management and financial services company that invested in the medical technology firm Corinth MedTech in June 2019.

(Compiled by Xu Xiaoxue)