Gynesonics: Women’s Healthcare Company Secures $67 Million

By Amit Chowdhry ● Nov 27, 2023

Gynesonics – a women’s healthcare company focused on developing minimally invasive solutions for symptomatic uterine fibroids – recently announced that it has secured an incremental $42.5 million in financing (total of $67.2 million inclusive of initial April 2023 financing). The funding round was led by existing Gynesonics investors Amzak Health, Endeavour Vision, Kaiser Permanente Ventures, Runway Growth Capital, and Bain Capital, with new investments coming from MVM Partners and several other healthcare investors excited about Gynesonics’ commercial advances.

As pioneers in women’s health, Gynesonics is committed to developing and delivering minimally invasive, incision-free, uterus-preserving, transcervical technologies for diagnostic and therapeutic applications. And Gynesonics’ flagship product – the Sonata System – is the first FDA-cleared medical device for diagnostic intrauterine imaging and transcervical treatment of symptomatic uterine fibroids, a medical condition affecting roughly 80% of adult women. Before the Sonata System, fibroid removal was limited to invasive medical procedures, like a hysterectomy, which carries greater risk and significantly more recovery time.

KEY QUOTES:

“Gynesonics continues to lay a strong foundation for success, having achieved a number of important commercial milestones in the most recent quarters. The company is very well positioned to continue the acceleration of its growth going forward. Amzak Health and our fellow Gynesonics investors are very excited about the company’s prospects to become the leading long-term solution in the treatment of symptomatic fibroids.”

— Joyce Erony, General Partner, Amzak Health

“Uterine fibroids cause suffering to millions of women. MVM is glad to support Gynesonics in offering a uterus-preserving, incisionless alternative to hysterectomy and myomectomy.”

— Hugo Harrod of MVM Partners

“This funding will enable Gynesonics to continue to expand commercial operations and provide millions of patients suffering from symptomatic fibroids a safe and efficacious minimally invasive treatment. With 275M+ U.S. covered lives (including 19 of the top 20 commercial payers) covering Sonata and our new Category 1 code going live in January, we are excited to accelerate our commercial efforts in the U.S. as well as Europe.”

— Skip Baldino, President and CEO of Gynesonics