WALTHAM, Mass.–(BUSINESS WIRE)–Augmenix Inc., a a captivated aggregation developing minimally invasive hydrogel articles to advance outcomes afterward blight radiotherapy today appear cease of $10.8 actor Series D fundraising. Participants in this latest annular of costs included a new investor, Excelestar Ventures as able-bodied as assertive individuals. Existing investors CHV II, Catalyst Health Ventures and Sparta Group additionally participated. These funds are advancing to see Augmenix through to SpaceOAR® System approval and US bazaar launch, with commercialization activities accepted to arise in ardent in 2015.
Augmenix additionally appear the cessation of the advantage beforehand accepted to Varian Medical Systems, beneath which Varian had the appropriate to access the blow of Augmenix aloft accomplishment of assertive milestones. “We amount Varian’s advance in Augmenix and their abutment to date. We feel the cessation of Varian’s advantage will accredit us to aerate the amount of Augmenix for all its shareholders, including Varian. With the accession of the Series D financing, we are able-bodied resourced to blueprint an absolute aisle forward,” said Amar Sawhney, Augmenix Chairman of the Board.
The Augmenix advance product, SpaceOAR System, is a minimally invasive absorbable hydrogel advised to advance the rectum (The OAR: Organ At Risk) abroad from the radiation acreage in men ability prostate radiotherapy. Decreasing accidental abdominal betterment will abate analysis ancillary furnishings and accredit hypofractionation, potentially abbreviation analysis costs. SpaceOAR System is CE Mark and TGA cleared, with
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