BROOKLYN, N.Y., Oct. 28, 2024
Backed by IBF, Merz, and Laborie, Vensica to Advance Needle-Free Delivery of Botulinum Toxin A (XeominŽ) for Minimally Invasive Treatment
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BROOKLYN, N.Y., Oct. 28, 2024 /PRNewswire/ -- Vensica Medical ("Vensica"), a pioneering urology therapeutics company, today announced the successful closing of an $11 million funding round. The investment will fund the company's upcoming Phase 2 clinical trials across the United States and Europe for its revolutionary treatment of overactive bladder (OAB) using botulinum toxin A (XeominŽ) delivered through a proprietary, needle-free device.
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The investment round was led by Israel Biotech Fund (IBF), alongside key strategic partners, Merz, a global player in neurotoxins, and Laborie, a prominent urology medical device company. This funding will enable Vensica to continue its mission of providing a minimally invasive, simple, and effective solution for people with overactive bladder ("OAB").
Vensica's unique technology leverages a needle-free drug delivery system, that administers XeominŽ directly to the bladder wall. This approach is expected to offer patients a less invasive, more comfortable treatment option compared to traditional injections, potentially transforming the standard of care for OAB. Vensica's needle-free drug delivery system aims to be a urology treatment platform for the treatment of additional bladder indications.
"We are thrilled to have the support of leading investors and partners who share our vision of transforming overactive bladder treatment," remarked Avner Geva, CEO of Vensica. "This funding will allow us to push forward with Phase 2 trials and move one step closer to bringing this innovative therapy to the patients who need it."
As part of its strategic partnership with Merz, Vensica has secured exclusive rights to XeominŽ in needle-less therapeutic application in several urologic indications and will benefit from Merz's clinical development support. This collaboration marks a significant step forward in the company's goal of delivering next-generation urology treatments.
For more information on Vensica and its upcoming clinical trials, visit https://vensica.com/.
About Vensica Medical
Vensica Medical is a biotechnology company focused on developing novel therapies for urological conditions. The company's leading product is a needle-free delivery system for XeominŽ (botulinum toxin A) aimed at treating overactive bladder in a minimally invasive manner. Vensica was established in the incubator program of The Trendlines Group (SGX: 42T) (OTCQX: TRNLY), and The Israel Innovation Authority.
Contact: Avner Geva, Chief Executive [email protected]
Photo: https://mma.prnewswire.com/media/2541677/CTO_Co_Founder_Vensica_Medical.jpg
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SOURCE Vensica Medical
