Series B investors include Swiss-based investment firm BlueOcean Ventures and two private investors. All Series A investors, including Novartis Venture Funds, Gran Plasa and Initiative Capital Romandie, participated in this round of funding.
Philippe Pouletty, managing director and general partner of Truffle Capital, said: ‘MyoPowers has the potential to solve a major medical problem affecting the wellbeing of millions of patients with a very well designed proprietary device.’
MyoPowers says it is currently developing an artificial urinary sphincter (AUS), an implantable medical device for the treatment of severe stress urinary incontinence.
In operation, two cuffs are said to be placed around the urethra to control the flow of urine by squeezing the urethra. The cuffs are actuated by a microdrive control unit that is powered by a subcutaneous battery.
The patient can operate the device with a small remote-control key fob. Similarly, a doctor can adjust the device post surgically with an advanced remote control. Click here to learn more.
Since raising its first CHF5m round of Series A funding in May 2010, MyoPowers has finalised its management team, received ISO 13485:2003 certification and strengthened its board of directors.
The company is now preparing for clinical trials to obtain a CE mark in Europe.
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