SoniVie Raises $60m in Round C Financing and Appoints New Board Members
SoniVie, a medical device company developing a proprietary solution to treat hypertension, announced today the completion of a $60 million series C round financing. The financing was led by Andera Partners, with participation from Supernova Invest and Omega Funds. Current SoniVie shareholder TechWald also participated. In conjunction with the financing, the Company appointed two renowned medtech experts to its Board of Directors, Raymond W. Cohen and Zeev Zehavi, as independent directors.
SoniVie has developed an ultrasound-based denervation technology with application in multiple therapeutic areas. TIVUS™ (Therapeutic Intra-Vascular Ultrasound System) employs high-frequency non-focused ultrasound energy to ablate nerves in the renal artery to decrease blood pressure. This minimally invasive investigational procedure can be used to treat patients suffering from hypertension, which impacts millions of people worldwide and substantially increases their risk of heart attack, stroke and kidney failure. The proceeds from SoniVie financing are envisioned to be used to reach clinical and regulatory milestones and to support TIVUS™ renal artery denervation program.
Following this financing, the Board of Directors of the Company is chaired by Zvika Slovin and composed of directors appointed by Andera Partners (Raphaël Wisniewski), Omega Funds (Claudio Nessi), Supernova Invest (Rémi Spagnol) and TechWald Holding (Alessandro Piga), Sonivie CEO Tomaso Zambelli and independent directors Raymond W. Cohen (CEO of Axonics) and Zeev Zehavi (former executive JJDC).
“We are very pleased that this financing round concluded with such a resounding success,” said Tomaso Zambelli, CEO of SoniVie Ltd. “The new investors and the Board of Directors bring significant experience to the Company in the field of Renal Denervation for Hypertension”.
Raphaël Wisniewski of Andera Partners commented, “SoniVie TIVUS™ has the potential to provide patients and physicians with a safe, efficient and easy to use device. We are thrilled to support this talented management together with our syndicate partners and our new board members”.
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