Axonics Hopes to Surpass Medtronic in Sacral Neuromodulation Market
Axonicsâ CEO Raymond Cohen wants to have the top spot in the sacral neuromodulation market when it comes to treating patients with urinary and fecal dysfunction. But to reach this position, Axonics is going to have some pretty stiff competition from one of the largest players in the game â Medtronic.
And while going head-to-head with the medtech giant might be a lofty goal for some smaller companies, keep in mind the Irvine, CA-based company just raised $120 million in an initial public offering, one of the largest raises in the industry in the past few years.
âAxonics started about four-and-a-half years ago and we have developed a miniaturized neuromodulation device,â Cohen, told MD+DI. âWe decided to go after the clinical indication of urinary dysfunction and fecal dysfunction.â
He added, âwe decided that this was the place wanted to focus given we felt that the patient population was dramatically underserved â meaning that there are nearly six million to 10 million patients in the U.S. that are taking drugs that are not effective to treat their urinary dysfunction.â
The companyâs rechargeable sacral neuromodulation (r-SNM) system is an implantable device that works by stimulating the sacral nerve, which is responsible for bladder and bowel function.
It differs from Medtronicâs I...
Source: MDDI - Category: Medical Devices Authors: Omar Ford Tags: Business Source Type: news
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