Channel Medsystems adds another $14m for Cerene device

Nearly two months after winning CE Mark approval in European Union for its Cerene device, Channel Medsystems brought in a Series C1 round worth $14.1 million.
Participants included previous backers Boston Scientific (NYSE:BSX), Third Point Ventures, InCube Ventures, Aperture Venture Partners, Scientific Health Development and Longwood Fund, the Emeryville, Calif.-based company said.
Cerene, a cryogen-based endometrial ablation system designed to treat heavy menstrual bleeding, won the CE Mark nod in June. In the U.S., the treatment phase is complete in a 242-woman pivotal investigational device exemption trial.
“I am proud of the achievements the team at Channel has made this year,” president & CEO Ric Cote said in prepared remarks. “We remain focused on delivering an exceptional device and treatment experience to women and their physicians, and we appreciate the continued support of our investors in this process.”
Channel raised a $9.7 million Series B round in 2013 and added another $23.8 million two years later.
The post Channel Medsystems adds another $14m for Cerene device appeared first on MassDevice.

Source: Mass Device - August 23, 2017 Category: Medical Devices Authors: Brad Perriello Tags: Funding Roundup Wall Street Beat Women's Health Channel Medsystems Source Type: news