Axonics Modulation files for $86m IPO

Axonics Modulation Technologies last week registered for an initial public offering worth more than $86 million for its neuromodulation system for treating urinary and bowel conditions. The Irvine, Calif.-based company touts its r-SNM device as the first rechargeable sacral neuromodulation system for treating overactive bladder, fecal incontinence and urinary retention. It’s designed to deliver mild electrical stimulation using a four-electrode lead introduced through the sacrum and a pulse generator implanted in the upped buttocks. Th r-SNM device won CE Mark approval in the European Union in June 2016; an external trial module won an FDA nod last July. It’s also approved for market in Canada and Australia. In its registration filing, Axonics said it expects to file a pre-market approval bid with the FDA during the first quarter of 2019. In the filing, which lists the flotation’s value at $86.3 million, Axonics said it plans to list on the NASDAQ exchange under the AXNX symbol. The post Axonics Modulation files for $86m IPO appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Featured Funding Roundup Initial Public Offering (IPO) Neuromodulation/Neurostimulation Wall Street Beat Axonics Modulation Technologies Source Type: news