Company name: Novasys Medical Inc.
Industry: medical devices.
Location: Newark, California.
Behavioral Health, Interoperability and eConsent: Meeting the Demands of CMS Final Rule Compliance
In a webinar on April 16 at 1pm ET, Aneesh Chopra will moderate a discussion with executives from DocuSign, Velatura, and behavioral health providers on eConsent, health information exchange and compliance with the CMS Final Rule on interoperability.
Solution/product: The Renessa System uses a probe guided through the urethra and radio frequency energy to treat female stress urinary incontinence in lieu of surgical treatments. The product has been cleared by the U.S. Food and Drug Administration.
Money raised: $3.9 million, according to a regulatory filing.
How it will be used: A call to a spokeswoman wasn’t immediately returned.
Investors: Alloy Ventures, Three Arch Partners, Versant Ventures, Skyline Ventures.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Management team: Scott Cramer, president and CEO; Michael Gandy, chief financial officer; Damian P. Alagia III, medical director and vice president of Medical Affairs
Market: The National Association For Continence estimates that 75 percent to 80 percent of the 25 million Americans who suffer stress urinary incontinence are women. Aside from the Renessa, another noninvasive treatment is the neuromodulation product Urgent PC developed by Uroplasty; companies like Boston Scientific make a urethral bulking agent that is more invasive that Renessa or Urgent PC, but less invasive than Medtronic’s implantable neuromodulation product called InterStim.
