Gynesonics Secures $75 Million in Equity Financing to Advance Sonata System for Uterine Fibroid Treatment

Recently, VCBeat (WeChat official account: vcbeat) learned from foreign media that Gynesonics, a women’s healthcare company headquartered in California, United States, completed a $75 million equity financing round on January 3, 2019, local time. The round was led by Bain Capital Life Sciences, with participation from Abingworth, ATV (Advanced Technology Ventures), Endeavor Vision, HealthCrest, and other investors. During the financing, Jeffrey Schwartz, General Manager of Bain Capital Life Sciences, announced his appointment to the Board of Directors of Gynesonics.

Gynesonics is a women’s healthcare company focused on developing treatments for uterine conditions. It is dedicated to providing women with safe and effective, incision-free alternatives to invasive surgical procedures such as hysterectomy or myomectomy, primarily for the treatment of symptomatic uterine fibroids. Gynesonics has successfully developed Sonata, an ablation device for the treatment of uterine fibroids.

Since its establishment in 2005, Gynesonics has received numerous prestigious awards in the medical field. In 2014, Gynesonics was named by FierceMedicalDevices as one of the “Most Promising Private Medtech Companies” in its “Fierce 15” list. In 2015, Dr. Hans Brolman received the Daniel F. Kott Award for his rapid EU data abstract titled “Early Clinical Response to Transcervical Radiofrequency Ablation Under Intrauterine Ultrasound Guidance.” This abstract was recognized by AAGL as “excellent research advancing minimally invasive gynecologic surgery.” Also in 2015, the company’s Sonata System won the Medical Design Excellence Award in the Radiology and Electromedical Equipment category at the 18th Annual MDEA Conference.

The Sonata System combines intrauterine ultrasound guidance with targeted radiofrequency ablation to perform incision-free treatment for symptomatic uterine fibroids, including those associated with heavy menstrual bleeding. This system offers a breakthrough alternative to hysterectomy and myomectomy. On one hand, it preserves the cervix for vaginal delivery in future pregnancies, thereby avoiding abdominal cavity trauma and eliminating the need for general anesthesia. On the other hand, it is effective in treating most types of fibroids, including submucosal, intramural, transmural, and subserosal fibroids.

It is reported that Gynesonics will use the proceeds from this financing round to further advance the commercialization of its Sonata system. The system has received CE marking in the European Union and obtained FDA 510(k) clearance in August 2018.

Bain Capital Life Sciences, headquartered in Massachusetts, USA, specializes in acquisitions, turnaround capital, growth capital, restructurings, and private equity investments. Since its inception, Bain Capital Life Sciences has invested in 10 companies, focusing on the healthcare and life sciences sectors, with particular attention to biopharmaceuticals, specialty pharmaceuticals, medical devices, diagnostics, and life sciences technology companies worldwide.

FierceMedicalDevices is a publishing company that provides breaking news and critical insights for the medical device and diagnostics industry, with a particular emphasis on clinical research. In a 2014 report featuring the Fierce 15, FierceMedicalDevices highlighted that the companies it focuses on hold significant potential in the coming years, driven by an unprecedented convergence of medical devices and information technology.

The Medical Design Excellence Awards (MDEA) is a premier and prestigious award in the medical technology industry. The MDEA evaluates medical technology products on the market, assessing criteria such as product design and manufacturing, their ability to enhance the quality of healthcare delivery, and the extent of their adoption and accessibility. Since its establishment in 1998, the mission of the MDEA has been to recognize significant achievements in medical product design and engineering, thereby improving the quality of healthcare services.

AAGL is the leading association worldwide advancing minimally invasive gynecologic surgery. It was founded in 1971 by Jordan M. Phillips, MD. AAGL was formerly known as the American Association of Gynecologic Laparoscopists. With the development of the field of minimally invasive gynecologic surgery, AAGL’s global membership has grown rapidly, and its research scope has expanded beyond laparoscopy alone, earning it high recognition worldwide. To better reflect its expanding mission and international support while retaining brand recognition, the organization ultimately dropped its full name, “American Association of Gynecologic Laparoscopists,” and adopted the acronym “AAGL,” accompanied by the tagline “Advancing Minimally Invasive Gynecology Worldwide.”