Devices & Diagnostics, Startups

Channel Medsystems raises $23.9M for cryothermic ablation device that reduce heavy menstrual bleeding

Bay Area startup Channel Medsystems’ technology freezes the uterine lining to prevent excess menstrual building. It just raised $23.9 million for this device, which can be used in less than three minutes.

As menopause approaches, many women experience heavy menstrual bleeding. One popular method to treat this is endometrial ablation – a procedure in which the endometrial lining of the uterus is destroyed.

The Bay Area’s Channel Medsystems just raised a hefty chunk of change for its handheld, cryothermic ablation device that reduces heavy menstrual bleeding with a quick, in-office procedure.

It has raised $23.9 million of a potential $29.5 million round, according to a regulatory filing. The company raised $6 million in debt last fall and $9.8 million in equity in 2013. Aperture Venture Partners, Boston Scientific, DFJ Ventures, Scientific Health Development and others invested in that first round.

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Channel Medsystems has yet to return outreach from MedCity News to learn more about how it will use the funding.

Here’s how it works: Channel Medsystems’ probe is inserted into the uterus, and its cryothermic technology freezes the endometrial lining to limit heavy menstrual bleeding. Because the cold temperature itself numbs the area, it can be done without anesthesia. Notably, current endometrial ablation procedures usually need general, epidural or local anesthesia. Instead of being used in a hospital setting, this procedure can be completed in two or three minutes.

The device is still in R&D mode – it isn’t available for sale or investigational use in the U.S. or Europe. It’s been tested in Canada, however. Here’s a video of how it works.