Channel Medsystems raises $30M Series C to expand Cerene rollout
What's the deal? Channel Medsystems, a Berkeley-based medical technology company, has reached $30 million in its ongoing Series C financing, led by InnovaHealth PartnersDealroom has a profile for this one. Try Dealroom →. The round will support the commercial expansion of Cerene, the company's endometrial cryotherapy treatment for heavy menstrual bleeding and dysmenorrhea.
What's the product? Cerene is a non-hormonal, incision-free treatment for premenopausal women with heavy menstrual bleeding from benign causes who have completed childbearing. The 2½-minute procedure can run in an office or outpatient setting without general anaesthesia.
Where does the money go? Channel Medsystems will expand its commercial team, raise physician and patient awareness, and strengthen education and training programmes. Funds also support clinical evidence generation, market development initiatives and infrastructure for long-term growth.
Why now? The raise follows what the company calls a successful commercial relaunch of the Cerene platform. Channel Medsystems CEO Nelson Whistance said the financing reflects increasing investor confidence in its updated commercial strategy.
Who's backing it? InnovaHealth Partners, a healthcare-focused private equity firm, has invested in Channel Medsystems since 2021. Founder and managing partner Mortimer "Tim" Berkowitz III said Cerene is the most advanced treatment option for women seeking a minimally invasive alternative for heavy menstrual bleeding and pain.
Read more: Business Insider
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