Madison, Wisconsin-based medical device company NeuWave Medical Inc has closed $25 million in Series C financing. Versant Ventures led the round with participation from other investors that included H.I.G. BioVentures and Venture Investors. In conjunction with the funding, NeuWave has added Kirk Nielsen, managing director at Versant Ventures, to its board of directors.
MADISON, Wis. & MINNEAPOLIS–(BUSINESS WIRE)–NeuWave Medical® Inc., a privately held medical device company focused on developing disruptive technology for use in the ablation of soft-tissue lesions has completed its Series C financing, led by Versant Ventures. The financing round was oversubscribed with all existing investors participating, including H.I.G. BioVentures, Venture Investors and others. The capital raised will be used to expand commercialization efforts, and to develop the next generation of breakthrough innovations.
“NeuWave Medical’s Intelligent Ablation System is a proven technology for the ablation of soft-tissue lesions, including primary and metastatic lesions in the lung, liver and kidney which combined represent more than 11.6 million new patients each year,” said Dan Sullivan, CEO, NeuWave Medical. “With this round of financing, we are well positioned to accelerate our commercial and R&D expansion plans to advance our mission of offering cost-effective and clinically efficacious alternatives for millions of patients worldwide.”