Novasys Medical's core product, the Renessa System, uses a probe guided through the urethra and radiofrequency energy to treat female stress urinary incontinence as an alternative to surgical treatments. The Renessa System has been cleared by the U.S. Food and Drug Administration. The company competes with other noninvasive and minimally invasive options, such as Uroplasty's Urgent PC, Boston Scientific's urethral bulking agents, and Medtronic's implantable InterStim. The National Association for Continence estimates that 75–80% of the 25 million Americans who suffer stress urinary incontinence are women, indicating a large addressable market. Management listed in the article includes Scott Cramer (president and CEO), Michael Gandy (CFO), and Damian P. Alagia III (medical director and VP of Medical Affairs). The company reported a $3.9 million raise in a regulatory filing, but the article notes the company did not disclose how proceeds will be used and a spokeswoman did not return a call. Novasys Medical makes a medical device intended to treat female stress urinary incontinence. The company’s product is described by its CEO as the only real alternative to surgery for women with the condition. Novasys is based in Newark, Calif. The company recently completed a $49.5 million funding round. The financing was reported in VentureWire alongside a CEO interview about the device. Investors in the round span multiple venture firms and institutional backers.

Total raised

$53M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2012