Axonics Raises $14.5M

Irvine-based Axonics, a developer of medical devices to treat urinary and fecal dysfunction, has raised $14.5M in a Series C funding round, the company announced this morning. The company said the funding is the first close of a targeted $30M funding round, and came from existing shareholders Edmond de Rothschild Investment Partners, Advent Life Sciences, Cormorant Asset Management, Legend Capital, NeoMed Management, and individuals. The company said the funding will go towards a clinical study in overactive bladder patients, to gain U.S. FDA approval. Axonics said it hopes to begin that study in the second half of the year. Raymond W. Cohen is CEO of Axonics. More information »