Channel Medsystems, based in Emeryville, Calif., has developed the Cerene® Cryotherapy Device to treat heavy menstrual bleeding. Cerene is designed to allow women who are finished with childbearing to receive treatment in their gynecologist’s office and is currently limited to investigational use in the U.S., Canada, and Mexico. The company completed the treatment phase of a 242-patient, multicenter pivotal study in March and received CE mark approval in July. Channel Medsystems raised $14.1M in a Series C-1 financing to support initiatives leading up to anticipated FDA approval and initial commercial launch preparation. The insider-led round included participation by Third Point Ventures, InCube Ventures, Aperture Venture Partners, Scientific Health Development, Longwood Fund and Boston Scientific. Ric Cote serves as President and CEO. Channel Medsystems has developed a cryothermic technology and a self-contained, handheld delivery system for endometrial ablation that eliminates the need for separate control units or capital equipment. The system is designed to enable gynecologists to perform the procedure in a standard office exam room without conscious sedation. Company data include a 40-patient feasibility study in Canada demonstrating that gynecologists can successfully and comfortably deliver the procedure in an office setting. Channel Medsystems aims to shift endometrial ablation away from hospitals and surgery centers to the gynecologist's office and to displace heat-based ablation technologies. The firm will use new funding to initiate a pivotal study and move closer to commercialization of the first true office-based endometrial ablation procedure. The company positions its technology as delivering value to patients, physicians and payers by enabling lower-cost, convenient care. Channel Medsystems is a San Francisco, CA–based clinical-stage medical technology company and a spin-out of incubator TheraNova. It has developed a cryogen-based Global Endometrial Ablation (GEA) technology to treat excessive menstrual bleeding as an alternative to more invasive surgical procedures. Co-founded by Dr. Dan Burnett and led by newly appointed president and CEO Ric Cote, the company is advancing its GEA platform through clinical work and regulatory activities. The company raised $9.7M in a Series B to support continued development of its cryogen-based GEA technology and to fund ongoing R&D and clinical regulatory efforts. Proceeds are intended to further product development and progress clinical/regulatory programs toward commercialization.

Total raised

$46M

Funding rounds

3

Latest round

Series C

Latest activity

Aug 2017