Meditrina, Inc. completes $10M equity financing led by Deerfield

News provided by

Jun 02, 2020, 10:03 ET

SAN JOSE, Calif., June 1, 2020 /PRNewswire/ -- Meditrina, Inc., a premier women's healthcare company and developer of the state-of-the-art Aveta™ System, for the treatment of intrauterine pathologies such as polyps, fibroids, and/or RPOC, announced today that it has completed a $10 million equity financing as a first tranche of a $20- million commercialization round. The financing was led by Deerfield Management Company. Steven Hochberg, a Partner at Deerfield, will join the Meditrina Board of Directors.

"We are very excited about the potential of the Aveta System which allows for full control of procedures by integrating resection devices with a fluid management system, providing more accuracy and procedural efficiency in comparison to the alternative approaches," said Mr. Hochberg.

Meditrina's Aveta™ System was developed by entrepreneurs with a history of developing leading products in various healthcare fields, including, but not limited to, the EnSeal® tissue sealing devices, the Symphion® bi-polar tissue resection device, and the Minerva endometrial ablation system.

"The Aveta System was designed with full flexibility and scalability to perform various procedures in any setting, whether in an operating room or in a physician's office," said Csaba Truckai, President and CEO of Meditrina. "For the first time, fully integrated electronic hysteroscopes and resection devices have been developed for single use, which is a key differentiator from other decades-old technologies on the market. Single-use systems will greatly reduce the chance of infectious disease cross-contamination that can arise from re-usable hysteroscopes. We believe our single-use systems will provide significant clinical benefits, as well as lower the costs of diagnostic and therapeutic procedures," added Mr. Truckai.

"The Aveta System distances itself over the competition given the direct operator control of distending fluid flow and pressure in the operative field, along with a camera system that continually self-corrects the orientation of the surgical field. The resection blade is second to none in its efficiency and speed of excising difficult to remove myomas," said Dr. Steve Balaloski, OBGYN at WomanKind Obstetrics and Gynecology in Columbus, Ohio.

"Once you experience the Aveta System in a hysteroscopic surgery, it is hard to go back to using the old systems. It is a truly innovative product that is far more effective and efficient than the other competing products which I have used for years. My staff and I find so much less frustration with set-up and implementation as well," said Dr. Elizabeth Coronado, OBGYN Women's Specialists of Plano, Texas.

Abnormal uterine bleeding (AUB) is a common gynecologic problem, estimated to affect up to 30% of women.¹ Endometrial polyps are common, affecting 7.8%–41% of women occurring in premenopausal and postmenopausal women,² and approximately 25% to 50% of women with fibroids are symptomatic.³

Meditrina will use the proceeds from the financing to expand U.S. commercialization of the Aveta™ System and to further develop its product portfolio.

About Deerfield
Deerfield is a healthcare investment management firm committed to advancing healthcare through investment, information and philanthropy.

About Meditrina, Inc.
Founded in 2016, Meditrina, Inc. designs and develops innovative medical devices for minimally invasive gynecology. For more information, visit www.avetasystem.com.

Contact:
Abbey Taylor
Director, Clinical Marketing
[email protected]
SOURCE Meditrina, Inc.

¹ Arnold, Amy & Ketheeswaran, Ashradha & Bhatti, Mominah & Nesbitt-Hawes, Erin & Abbott, Jason. (2016). A Prospective Analysis of Hysteroscopic Morcellation in the Management of Intrauterine Pathologies. Journal of Minimally Invasive Gynecology. 23. 10.1016/j.jmig.2016.01.013.
² Lee, S.C., Seibel, B. & Kaunitz, A.M. When Should Endometrial Polyps Be Treated?. Curr Obstet Gynecol Rep 1, 89–93 (2012).
³ Marsh, E. E., Al-Hendy, A., Kappus, D., Galitsky, A., Stewart, E. A., & Kerolous, M. (2018). Burden, Prevalence, and Treatment of Uterine Fibroids: A Survey of U.S. Women. Journal of women's health (2002), 27(11), 1359–1367.

SOURCE Meditrina, Inc.