UroMems Completes € 23 Million Series B Funding

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New participation from existing investors raised an additional € 7 million

Additional capital to fund the launch of the first clinical trial of eAUS in patients with stress urinary incontinence (SUI) caused by sphincter insufficiency

GRENOBLE, France, April 06, 2021 (GLOBE NEWSWIRE) – UroMems, developer and manufacturer of the Electronic Artificial Urinary Sphincter (eAUS), today announced it has raised an additional € 7 million in a second tranche of its previously announced Series B round table completed in May 2020. The additional capital was provided by existing investors including Hil-Invent GmbH, Financière Arbevel, Wellington Partners, Bpifrance, via its FABS fund, Supernova Invest and btov Partners, and brings the total raised in this fund. round to € 23 million.

The additional proceeds from this funding are expected to fund the final development, manufacturing and early clinical trials of the UroMems eAUS.

EAUS is an active implantable medical device that compensates for sphincter insufficiency in patients with SUI. Protected by more than 90 patents, the device has been developed with a focus on patient benefits based on the latest technologies in on-board intelligent, digital and robotic systems.

“Our development strategy remains on track, the next major phase being the launch of the first human studies of our eAUS device, one of the most sophisticated devices in development for the treatment of SUI,” said said Hamid Lamraoui, CEO and co-founder of UroMems. “This additional capital allows us to continue moving forward towards our goal of bringing our new technology to this very large, underserved patient population. In addition to our ongoing preclinical work, we are executing market access initiatives, which confirm that the business opportunity for eAUS is significant. We are grateful to our investor union for their continued confidence and support in our mission. “

About UroMems

Founded in 2011 by Prof. Pierre Mozer, Hamid Lamraoui and Stéphane Lavallée, UroMems aims to restore the quality of life, dignity and self-esteem of millions of men and women around the world suffering from untreated chronic diseases by committing to changing the perception that these disorders are inevitable as one ages and are simply something to be endured with no real solution. The first challenge for the company will be to apply robotic methods and intelligent systems to treat urinary incontinence: designed by urologists and collaborating scientists and engineers, the UroMems eAUS will present a new standard of care combining safety, efficiency. , durability and ergonomics adapted to the lifestyle of each individual. and anatomy.

Since the creation of the company, significant investments have been made for the development of the first UroMems product. It includes a round of funding of 12 million euros of Serie A led by Wellington Partners, Bpifrance via FABS Fund, Cita Investissement, Supernova Invest and btov Partners. The company has been awarded several renowned innovation prizes including the Prix Galien Award Medstart’up, and the Worldwide Innovation Challenge initiated by the French government. For more information, please visit www.uromems.com

About eAUS
The eAUS is an electronic artificial urinary sphincter designed to overcome the limitations of current solutions by optimizing safety and performance, patient experience and surgeon convenience.

Business :
E-mail: [email protected]

Media: Ryo Imai / Robert Flamm
Burns McClellan
212-300-8364, ext. 155 / 212-300-8364
[email protected] / [email protected]

Investors: Lee Roth
Burns McClellan
212-213-0006, ext. 331
[email protected]

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