Company name:Novasys Medical Inc.
Industry: medical devices.
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.
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.