The funds will be used by the company to carry out the phase II multicentre clinical trials in Europe and the US
Vensica Therapeutic’s innovative ultrasound-assisted delivery catheter for needle-free use in urological procedures. (Credit: PRNewswire / Vensica Therapeutics)
Vensica Therapeutics has secured $16m in an investment round to support the clinical and regulatory development of its urology treatment platform.
Led by Israel Biotech Fund (IBF), the investment round saw participation from urology device company Laborie, medical device investor Lew Pell, Agriline and The Trendlines Group.
The company will use the funds to carry out the phase II multicentre clinical trials in Europe, as well as the US.
The investment round is said to follow the company’s signing of a strategic licence and collaboration agreement with Merz Group’s business Merz Therapeutics in August this year.
The Israeli start-up launched the partnership with Merz for needleless treatment of overactive bladder.
IBF co-founder and managing partner Ido Zairi said: “IBF is happy to join Vensica in this journey which may be life changing for many people suffering from bladder related conditions or diseases. We look forward to seeing Vensica’s unique needle-free platform embedded as a method of treatment for overactive bladder and other indications.”
Merz’s botulinum neurotoxin A (XEOMIN) has been licenced by Vensica for needle-free use in urological procedures.
Vensica intends to increase its Israeli workforce for the next stage of clinical and regulatory development of its device along with XEOMIN with a focus on overactive bladder treatment.
To treat different urological indications such as overactive bladder, neurogenic bladder, and interstitial cystitis, Vensica’s needle-free platform for drug delivery will be used for botulinum toxin type A delivery into the urinary bladder.
Vensica’s needle-free platform is expected to hold potential to address multiple needle-associated issues, including pain and urinary retention.
The platform is also expected to enable improved treatment through uniform delivery of the neurotoxin to the bladder wall.
Vensica CEO Avner Geva said: “Closing this investment round is an exceptional step for Vensica. Together with our partner and shareholder, Merz Therapeutics, and with the necessary funding, we are poised to plan and complete clinical and regulatory processes that will enable us to bring innovative and less invasive treatment of bladder diseases to the market.”