Augmenix is a privately held Boston-area company developing minimally invasive hydrogel products to improve outcomes following cancer radiotherapy. Its core product, the SpaceOAR System, is a soft, absorbable hydrogel injected to push the rectum away from the prostate and reduce rectal radiation injury. SpaceOAR received FDA clearance in April 2015 and has been adopted by more than 129 cancer centers in 35 states; it is in use or being installed in 75% of the top 20 U.S. cancer centers identified by U.S. News & World Report. The SpaceOAR hydrogel has been featured in over 50 peer-reviewed publications and conference abstracts and was named by the ECRI Institute as one of the 10 top technological advances to watch in 2016. Augmenix also markets TraceIT Hydrogel, an absorbable tissue marker with CT, MRI and ultrasound visibility that is FDA cleared, CE marked and TGA approved. The SpaceOAR hydrogel remains stable for three months during radiotherapy and is then absorbed and cleared in the patient’s urine. The company plans to use new financing to develop next-generation products and expand commercial operations domestically and internationally. Augmenix develops minimally invasive absorbable hydrogel products aimed at improving outcomes from cancer radiotherapy. Its lead product, the SpaceOAR System, is an absorbable hydrogel designed to push the rectum away from the radiation field during prostate radiotherapy to reduce side effects and enable hypofractionation. SpaceOAR holds CE Mark and TGA clearance and the company expected FDA approval in early 2015, with commercialization activities planned to commence in earnest in 2015. Its second product, TraceIT Hydrogel, is an absorbable tissue marker visible on CT, MRI and ultrasound and is CE Mark and FDA cleared for improving radiation targeting of bladder tumors. Augmenix is privately held, based in Waltham, Massachusetts, was founded in 2008, and is funded by several venture capital groups. The completed Series D financing provides capital intended to support regulatory approval and the U.S. market launch of SpaceOAR. Augmenix is focused on the development and commercialization of implantable biomaterial-based solutions to improve radiotherapy safety and efficacy. Its lead product is the SpaceOAR System, an injectable tissue spacer intended to decrease rectal morbidity or enable improved efficacy in prostate radiotherapy. The company has used financing to support clinical and commercial development of SpaceOAR in Europe and the United States. Proceeds from the announced round will also fund development of other products in the Augmenix pipeline. Augmenix closed a $6.1M Series B to advance these clinical and commercial plans. The company is based in Waltham, Massachusetts.

Total raised

$23M

Funding rounds

3

Latest round

Series E

Latest activity

Jul 2016