AVAVA has raised $45 million in financing led by Catalio Capital Management to accelerate commercialization, product development and international expansion of its energy-based medical aesthetics platform.
The financing consists of $30 million in equity and a $15 million debt facility. Catalio, AVAVA’s first institutional investor, led both portions of the financing, with participation from additional new and existing investors.
AVAVA is developing next-generation aesthetic devices around its proprietary Focal Point Technology, which is designed to deliver energy to the skin precisely while preserving surrounding tissue.
The company says the architecture can support highly customizable treatments across a broad range of skin types and treatment areas.
A significant portion of AVAVA’s next phase will center on further developing that technology.
Future generations of Focal Point Technology are already in development and have entered testing as the company expands its innovation pipeline.
The financing follows the rollout of AVAVA 2.0, a software upgrade for the company’s platform, and comes as AVAVA advances additional clinical and regulatory programs.
Management also plans to continue expanding the company’s commercial organization and international footprint.
UBS Investment Bank and Oak Hills Securities served as strategic financial advisers to AVAVA.
KEY QUOTES:
“This financing gives us additional resources to scale our business, advance our innovation pipeline and bring AVAVA technology to more providers and patients around the world.”
Clint Carnell, CEO of AVAVA
“Focal Point Technology® opens new possibilities for how we deliver energy to the skin, and we are only beginning to explore its potential.”
R. Rox Anderson, M.D., Co-Founder and Board Member of AVAVA
